Candlelight Village 2015 Annual Meeting Slide - 1
Agenda Roll Call, owners present proxies - Determine if quorum Proof of notice of meeting Reading and approval of minutes of preceding annual meeting Financial report & Approval of budget Maintenance issues and improvements Adjournment Slide - 2
Accomplishments in the last few years Roof and siding redone This took an assessment and has been very hard to manage. There are still outstanding monies owed from 2010 although very low now General improvements have been made Fence repairs, trash issues dealt with and some small landscaping work Units that were for sale and not selling are now being sold quickly and our ownership to renters ratio is slightly better Positive cash in our bank accounts This was not the case some years ago as we were always in the red Much of this has come from good management of the accounts and ensuring delinquent owners pay their dues and assessments Slide - 3
Financials Slide - 4
2013 & 2014 Break down by % of what our spending is Insurance Utilities Capital Improvements Lawn and Maintenance Insurance Utilities Lawn and Maintenance Slide - 5
2013 2014 2013 & 2014 Financials These 2 charts show the financials for the HOA You would think this is good, right? Issue is that the majority of the increase we have is from 2 things 1) Overdue assessments and dues that were paid up in 2014 We did no real large capital improvements Slide - 6
2013 Financials The Problem We Spent WAY More Than We Took In Roughly $18K Break down shows our financial flow over the year Either a surplus or deficit by month Red bar at far right is the balance for the year That s a problem Slide - 7
2015 Budget This basically just keeps the lights on and allows for the basics of operating the complex No improvements are in this budget Slide - 8
2013 Improvements Slide - 9
2013 Improvements Trash We have asked the city to ensure they place the waste containers properly so to not damage the landscaping We have a young man that walks the property once a week and picks up trash Proper Tree trimming and removal as needed Cameras near the waste containers These have lowered the amount of dumping Dog waste stations gives ease to deal with dog waste Fence Treatments will ensure longevity and increase the esthetics of the property Some repairs to the gates and parameter areas Slide - 10
2014 Improvements Some fence repairs Slide - 11
Improvements Needed Slide - 12
Fence issues Fences are in poor condition This is manageable with some repair work but it wont last and it sure wont look very good Slide - 13
Parking The parking area is in disrepair for years Water collects in areas where it shouldn t as well as lots of cracks We make repairs to it regularly but this is just patching To make these repairs we need more money Slide - 14
Large Landscaping issues These issue can have catastrophic consequences that could clean out our bank account to make the repairs And these would just be repairs The underlying issue would remain Slide - 15
2015 Budget This basically just keeps the lights on and allows for the basics of operating the complex No improvements are in this budget Slide - 16
HOA Dues from Other Properties Benchmark of other complexes Slide - 17
The Plan Pay cash for the fence repairs out of the current budget Metal poles, cemented in the ground and treated Parameter fences as well Secure a loan for the landscaping work Area between 12 and 13 Depending on cost possibly a sprinkler system around the front Continue this method for the other needed items like parking and sprinkler systems HOA Dues will need to be raised to cover the loan amounts Slide - 18
General Issues of Note Slide - 19
Dogs The city has ordinances with respect to animals A resident can be fined for these things by the city Leashes All dogs should be leashed Noise Excessive noise and barking should be avoided Waste Dogs must be cleaned up after Slide - 20
Satellite Dishes Satellite Dishes must be mounted inside the fenced in area Pictures here show what should not be done This damages the property as well as looks terrible Damages come out of the budget to repair and lower our ability to make overall improvements We as a board want to be flexible within this area so contact Century 21 in the event a satellite dish will be installed and lets work out what is compliant and workable Slide - 21
Parking This is how the signs must be done according to the state of Texas Any other type sign is not valid We will be changing out the signs Note: Many residents are using the visitors spots as over-flow or extra parking for their vehicles Slide - 22
Dumping Large Trash Items $664 was spent in 2013 for this For the most part it is something we don t deal with now but does happen at times Please be sure to not leave large items at the dumpster no one is coming to get it Slide - 23
Thanks Everyone for Coming Slide - 24