Whispering Meadows Annual State of the Association Meeting http://wmypsi.org April 29, 2014
Welcome and Introductions Current Board Members: Sabrina Owens, Board President Jakub Biernacki, Vice- President Ever Miller, Treasurer Heather Collinash, Secretary
Outstanding Partners: It s been three years since KC Property Service was retained. They have played a major role in collecpng delinquent accounts and have facilitated beser cooperapon and collaborapon with the developer and vendors. Kimberly Mosey, Owner Beverly G. Powers, Property Manager Contact informa4on: (248) 586-9700 For Emergency: Select OpPon #4 when calling Email address: B.powers@kcpropertyservice.com K.mosey@kcpropertyservice.com
Agenda 1. IntroducPons & ExplanaPon of Purpose of MeePng 2. President s Report 3. KCP Management Report of Financials 4. Treasurer s Report 5. Homeowner s Open Forum 6. Open NominaPons from the Floor 7. IntroducPon and comments from Nominees 8. Appointment of Inspectors of ElecPon 9. ElecPon of Board Members 10. ElecPon Results 11. Adjournment
Status of Home Sites (Beverly) 217 Homes are now occupied 4 are being developed 16 Homes are spll available 8 Homes for sale 99.54% Owner Occupancy Rate
President s Report New Web Site: www.wmypsi.org NewsleSer signup available on website Whispering Meadows on FaceBook & TwiSer Successful Yard Sale Sub- wide Clean- up and Community Dumpsters New irrigapon pump installed in small pond on Jonquil Lane
Noteworthy Events Muskrats tore through the power cord on the Jonquil fountain. It has been repaired and has been returned. Ponds are scheduled to be treated to reduce algae and stagnant buildup; Aerators to be installed We conpnue to hold the developer accountable for mowing his vacant lots monthly;
Noteworthy Events, Cont d. We were not sapsfied with our Lawn Care Services, New Contractor: K&D - owner lives next door; AlteraPon ModificaPon forms and requests can take up to 30 days, so keep this in mind when making repairs to sheds, decks, papos, and fences. Forms available on web site;
Pending Projects Private Park signs at large north park
Committees Volunteers are spll needed to staff commisees: Events (block parpes; home tours; music in homes) CommunicaPons NewsleSers; Website updates and maintenance Garden Club Contests Holiday DecoraPng Caroling Potlucks
Treasurer s Report (EVER) Overview of Financial Statements The Balance Sheet
The Balance Sheet ASSETS Cash & Cash Equivalents $ 38,338.29 CD Bank of Nevada 25,119.64 Reserve Bank of Nevada 36,552.01 $ 100,009.94 Accounts Receivables 60,013.35 Total Assets 160,023.29 Current Liabili4es 6,907.69 Equity 153,115.60 Total Liabili4es & Equity $ 160,023.29
KCP Management Report (Beverly) Collec4ons and Delinquencies: 2012 Delinquencies: 40 accounts over 90 days delinquent, represenpng $ 47,159.85 2013 Delinquencies: 45 accounts over 90 days delinquent, represenpng $ 51,611.36 or 21% of owners
INCOME STATEMENT See Handout
Budget Variance Analysis Adherence to 2012 Budget ProjecPons: Year To Date 12/31/13 Total Income $88,409.70 Total Expenses $96,656.89 Over Budget by ($8,247.19) WHY? EXPENSES Transfer To Reserve: Over Budget ($30,000)
Variance Analysis, Cont d OVER BUDGET AdministraPve: Over Budget by $1,157.35. Website Setup & Service - $836.80 CollecPon Expenses $895.75 (ADAC, statements) Maintenance & Repairs - $645.00 (entrance lights) Ponds: Over Budget by $3,275.08 UNDER BUDGET Grounds, OperaPng (W&S) and Insurance
Property Inspections Property InspecPons: Mailboxes are conpnuing to deteriorate to be replaced Damaged/Dead Trees being cut down on Lilly Pathways being refilled by ponds and park Entrance trees to be mulched Lupin Court Pond, tree mounds Trees to be replaced Approved Mailbox: Descrip4on: Double- wall plaspc construcpon. Has a rear safety retrieval door which keeps children and adults away from traffic. Size: 49-1/2"H x 10"W x 21-1/2"D. (Black or Tan) Costs average $50- $60 at Home Depot or Lowes
Homeowner s Open Forum?? QUESTIONS??
Election (Jakub) NominaPons From the Floor: for One Two- year Appointment IntroducPon and Comments from Nominees Appointment of Inspectors ElecPon
Spring Cleanup Prepare for Sub- wide Clean Up
Thank you, See you next year!