Limerick Park Community Association PO Box 73052 (253) 336-4040 April 18, 2018 Dear Association Member, Annual Membership & Budget Ratification Meeting Notice This letter serves as notice for the upcoming Limerick Park Community Association Annual Membership & Budget Ratification meeting. It will be held Saturday May 12, 2018 at 2:00 pm at our community park. Please bring a chair and umbrella if needed. The agenda for the meeting will be as follows: Registration of Members 2:00 Call to Order / Proof of Notice Introduction of Board & Management Community Report/Update Review of 2018 Proposed Budget Budget Ratification Call for Nominations Board of Directors Election of Board of Director (3-Two-year & 1 One-Year term open) 3:30 Adjournment Question & Answers A proxy has been enclosed for your convenience. If you are unable to attend the meeting, please complete and return it to our office or to the person attending and representing your vote. To conduct business and hold the required election we must meet quorum of 20% of the membership. If you are interested in volunteering to serve on your community s Board of Directors or would like to learn more about the open positions, please contact Cassie Tompkins at Cassie@CMProServices.com or at (253) 336-4040. We look forward to seeing you at the meeting. Sincerely, C. Tompkins Cassie Tompkins, CMCA, AMS Community Manager Enclosures: Proposed 2018 Budget 2017 Meeting Minutes Proxy Nomination Form Reserve Disclosure Gate Information
Limerick Park 2018 Proposed Budget Limerick Park Year: 2018 Notes: Account Budget Total Notes Auxiliary Income $ 50,400.00 $420 Per Lot Annually Management Fees $ 11,700.00 Accounting Fees $ 200.00 Website $ 1,000.00 Community Out Reach $ 1,000.00 Legal Fees - Collection $ 400.00 Postage $ 350.00 Storage $ 48.00 Office Supplies $ 600.00 License $ 10.00 Insurance Expense $ 2,000.00 Reserve Study $ 890.00 Repairs & Maintenance $ 9402.00 Landscaping $ 17,000.00 Water $ 3,000.00 Electricity $ 800.00 Reserves Contribution $ 2,000.00 Income Accounts Total: $ 50,400.00 Expense Accounts Total: $ 50,400.00 Difference: $ -
Limerick Park Community Association Annual Membership & Budget Ratification Meeting Minutes June 24, 2017 Location: Community Park Call to Order: 2:00 pm Quorum Achieved: Yes Introduction of Board: Introduction of current Board members and Cassie Tompkins, CM Pro Services. Introduction of CM Pro Services as full management vendor. Review of 2017 Proposed Budget: Cassie Tompkins, CM Pro Services reviewed the proposed 2017 budget. Ratify 2018 Budget: Per the governing documents and RCW, the 2017 proposed budget was ratified. Election: Election was held for 4 four positions on the Board of Directors (Two 2-year and Two 1-year terms) The following candidates ran for the positions: Stephanie Neurer James LeClear Tim Holen Ted Foley Julie Laney Jennifer Lorenzen Will Hutcheson Marla Earle By vote of the membership, the following members were elected to the Board of Directors. James LeClear Stephanie Neurer Jennifer Lorenzen Will Hutcheson Meeting Adjourned: 4:15 pm General Discussion Speeding Gate Maintenance Compliance Park Improvements Landscaping Board / Association communication Street Maintenance & Flooding Page 1 of 1
Limerick Park Community Association PO Box 73052 (253) 336-4040 Proxy A Washington Nonprofit Corporation The UNDERSIGNED, being all the Owners of Lot Number or Address, of Limerick Park Community Association, do hereby appoint (the Proxy ), or the Secretary of the Association if left blank, as Proxy at the Annual Membership & Budget Ratification Meeting scheduled for May 12, 2018. The Proxy shall have the authority to cast all votes of the undersigned as a Member of Limerick Park Community Association. The UNDERSIGNED hereby revokes any prior proxies and states that the appointment of this Proxy is the full power of substitution. This power may be revoked in writing prior to the meeting, or by one of the undersigned being present at the meeting and voting his/her rights personally instead of through the Proxy. This appointment shall automatically terminate at the conclusion of the meeting referenced above. DATED this day of, 2018. Lot Number or Address Owner(s) / Member(s) Signature Owner(s) / Member(s) Printed Name Owner(s) / Member(s) Signature Owner(s) / Member(s) Printed Name Mail, or scan and email this form to: Community Management Pro Services PO Box 73052 Cassie@CMProServices.com
Limerick Park CommunityAssociation POBox73052 Nomination Form In accordance with the bylaws of the Association, a call for nominations by the Board of Directors is hereby issued. You may nominate yourself or be nominated by another person. All nominees, by signing this nomination form, do declare their willingness to serve the Association for a period up to two years. Nominee: Name: Address: Phone: Email Address: Person Making Nomination (if this is a self-nomination, please indicate self below): Name: Address: Phone: Signature: You are welcome to include a brief summary of the nominee s qualifications. Please answer the following questions. 1. What background or experience do you have that might qualify you for the Board of Directors? 2. What are your goals and objectives in becoming a Board member? What would you like to accomplish while serving on the Board of Directors? 3. What suggestions do you have to make Limerick Park a better community? Mail, or scan and email this form to: Limerick Park C/O Community Management Pro Services PO Box 73052 Cassie@CMProService.com
Gate Information Updated: March 1, 2018 Gate Description(s): The Limerick Park/Lacamas Valley Estates community has 3 gates used to enter and exit the community. Main Gate: Located on 32 nd Avenue off of 288 th Avenue o Remote entry o Keypad code entry o Keypad call owner for entry Side Gate #1: Located on 289 th Avenue off of 24 th Avenue o Remote entry only Side Gate #2: Located on 293 rd Avenue off of 24 th Avenue o Remote entry only Gate Hours: The gate will remain open during peak hours: Monday through Friday, 6:00 8:30 AM & 3:30 6:00 PM The gate will remain closed outside of peak hours and on weekends. Gate Remotes: Gate remotes can be used to open all three gates. 2 remotes are allowed per lot. Remotes cost approximately $16. To purchase a remote or to report issues with a remote, please call Melissa Schultz at 253.843.1641 this is a landline and does not accept text messages. She will ask you for identifying information to verify you are a homeowner in the community. Gate remotes can also be programmed into cars with the garage door buttons on the rear view mirror. We recommend you search Google or YouTube to find instructions on how to program your specific make, model and year. Once programmed, simply push the button to open any of the three gates. Gate Codes: Each homeowner/lot should have a unique code to operate the gate. Gate codes are entered into the keypad in front of the Main Gate. To obtain a gate code or to report issues with a gate code, please call Melissa Schultz at 253.843.1641 this is a landline and does not accept text messages. She will ask you for identifying information to verify you are a homeowner in the community. On the keypad, hit the pound key (#) followed by your code. Gate Conduct: Since the three gates are our most valuable (and expensive) assets, we all need to work together to make sure they last as long as possible and require minimal repairs. A few things everyone can do to help: Do not park or stop for long periods of time near the gates. Not only could the gate arm movement cause damage to your car, but having cars stay near the sensors versus driving through them can severely impact the operating system of the gates. At no time should anyone be climbing, swinging or otherwise coming into contact with the gate arms, brick pillars, control boxes, pedestrian gates or any other component of the gates. Once the gate starts to open, clicking the remote button additional times will not make it open faster. Doing so confuses the operating system and could cause malfunctions. None of the gates should be manually opened or propped open or forced open unless in case of emergency or by approval of a Lacamas Valley Estates or Limerick Park HOA Board Member. Special requests: The gate will not be programmed to remain open for any special events (parties, open houses, deliveries, etc.) unless approved by both the Lacamas Valley Estates and Limerick Park HOA Boards. Gate Issues: If you have an issue with the gate (not related to remotes or codes) or to report a gate not operating correctly, please contact Adrianne at 253.946.1293 you may call or text this number.
Assessment and Reserve Funding Disclosure Summary Limerick Park HOA, Roy For Fiscal Year Beginning: 3/1/2018 # of units: 120 1) Budgeted Amounts: Total Average Per Unit* Reserve Contributions: $2,000.00 $16.67 Total Assessment Income: $50,400.00 $420.00 per: Year Recommended Amounts: Total Average Per Unit* Reserve Contributions: $31,200.00 $260.00 per: Year Funding Plan Objective: Full Funding 2) Additional assessments that have already been scheduled to be imposed or charged, regardless of the purpose, if they have been approved by the board and/or members: Year Total Amount Per Unit* Purpose Total: $0.00 3) Based on the most recent Reserve Study and other information available to the Board of Directors, at this point in time does it appear that currently projected Reserve account balances will be sufficient at the end of each year to meet the association's obligation for repair and/or replacement of major components during the next 30 years? No 4) If the answer to #3 is no, what additional assessments or other contributions/loans to Reserves would be necessary to ensure that sufficient Reserve Funds will be available each year during the next 30 years? Approximate Fiscal Year Assessment Will Be Due Average Total Amount Per Unit* 2024 $500.00 2029 $541.67 2034 $625.00 2039 $708.33 2042 $5,250.00 Total: $7,625.00 5) All major components appropriate for Reserve Funding (components that are a common area maintenance responsibility with a limited life expectancy and predictable remaining useful life, above a minimum threshold cost of significance) are included in this Reserve Funding Plan: Yes 6) All computations/disclosures are based on the fiscal year start date of: 3/1/2018 Fully Funded Balance (based on RCW 64.34.020(24) or RCW 64.38.010(9)): $100,481 Projected Reserve Fund Balance: $500 Percent Funded: 0.5 % Reserve Deficit (surplus) on a mathematical avg-per-unit* basis: $833 From the 3/16/2018 Reserve Study by Association Reserves and any minor changes since that date. * If assessments vary by the size or type of unit, allocate per unit per the attached. 7) See attached 30-yr Summary Table, showing the projected Reserve Funding Plan, Reserve Balance, Percent Funded, and assumptions for interest and inflation. Prepared by: Nathan Rupcich Date: 4/18/2018 The financial representations at the time of preparation are based on the Reserve Study for the fiscal year shown at the top of this page and the best estimates of the preparer. These estimates should be expected to change from year to year. Some information on this form has been provided to Association Reserves, and has not been independently verified. Association Reserves 1 www.reservestudy.com
30-Year Reserve Projections as Recommended in Reserve Study 33626-0 Fiscal Year Start: 3/1/2018 Interest: 1.00 % Inflation: 3.00 % Reserve Fund Strength Calculations: (All values of Fiscal Year Start Date) Projected Reserve Balance Changes % Increase Starting Fully Special In Annual Loan or Reserve Funded Percent Assmt Reserve Reserve Special Interest Reserve Year Balance Balance Funded Risk Contribs. Contribs. Assmts Income Expenses 2018 $500 $100,481 0.5 % High 6,140.00 % $26,000 $0 $136 $0 2019 $26,636 $120,375 22.1 % High 32.00 % $34,320 $0 $207 $46,350 2020 $14,813 $97,853 15.1 % High 10.00 % $37,752 $0 $338 $0 2021 $52,903 $123,044 43.0 % Medium 10.00 % $41,527 $0 $740 $0 2022 $95,170 $149,659 63.6 % Medium -29.73 % $29,180 $0 $1,069 $6,753 2023 $118,666 $170,804 69.5 % Medium 3.00 % $30,055 $0 $1,343 $0 2024 $150,065 $200,247 74.9 % Low 3.00 % $30,957 $0 $1,393 $53,732 2025 $128,682 $175,959 73.1 % Low 3.00 % $31,886 $0 $1,453 $0 2026 $162,021 $207,038 78.3 % Low 3.00 % $32,842 $0 $1,793 $0 2027 $196,656 $239,824 82.0 % Low 3.00 % $33,828 $0 $2,083 $12,526 2028 $220,041 $261,489 84.1 % Low 3.00 % $34,842 $0 $2,386 $0 2029 $257,268 $297,526 86.5 % Low 3.00 % $35,888 $0 $2,452 $62,291 2030 $233,318 $271,331 86.0 % Low 3.00 % $36,964 $0 $2,530 $0 2031 $272,811 $309,380 88.2 % Low 3.00 % $38,073 $0 $2,932 $0 2032 $313,817 $349,469 89.8 % Low 3.00 % $39,215 $0 $3,171 $35,546 2033 $320,657 $355,072 90.3 % Low 3.00 % $40,392 $0 $3,424 $0 2034 $364,473 $398,407 91.5 % Low 3.00 % $41,604 $0 $3,508 $72,212 2035 $337,373 $369,645 91.3 % Low 3.00 % $42,852 $0 $3,604 $0 2036 $383,829 $415,407 92.4 % Low 3.00 % $44,137 $0 $4,078 $0 2037 $432,044 $463,583 93.2 % Low 3.00 % $45,461 $0 $4,569 $0 2038 $482,075 $514,276 93.7 % Low 3.00 % $46,825 $0 $5,078 $0 2039 $533,978 $567,593 94.1 % Low 3.00 % $48,230 $0 $5,186 $83,713 2040 $503,681 $537,421 93.7 % Low 3.00 % $49,677 $0 $5,309 $0 2041 $558,667 $593,740 94.1 % Low 3.00 % $51,167 $0 $5,869 $0 2042 $615,704 $652,954 94.3 % Low 3.00 % $52,702 $0 $6,081 $73,486 2043 $601,002 $639,496 94.0 % Low 3.00 % $54,283 $0 $3,628 $533,913 2044 $125,000 $152,674 81.9 % Low 3.00 % $55,912 $0 $1,049 $97,047 2045 $84,915 $102,537 82.8 % Low 3.00 % $57,589 $0 $1,142 $0 2046 $143,646 $152,211 94.4 % Low 3.00 % $59,317 $0 $1,741 $0 2047 $204,704 $204,774 100.0 % Low 3.00 % $61,096 $0 $2,363 $0 Association Reserves 2 www.reservestudy.com
30-Year Reserve Projections at Board of Directors Budgeted Rate 33626-0 Fiscal Year Start: 3/1/2018 Interest: 1.00 % Inflation: 3.00 % Reserve Fund Strength Calculations: (All values of Fiscal Year Start Date) Projected Reserve Balance Changes % Increase Starting Fully Special In Annual Loan or Reserve Funded Percent Assmt Reserve Reserve Special Interest Reserve Year Balance Balance Funded Risk Contribs. Contribs. Assmts Income Expenses 2018 $500 $100,481 0.5 % High 300.00 % $1,666.67 $52,800 $279 $0 2019 $55,245 $120,375 45.9 % Medium 32.00 % $2,200.00 $0 $333 $46,350 2020 $11,429 $97,853 11.7 % High 10.00 % $2,420.00 $0 $127 $0 2021 $13,975 $123,044 11.4 % High 10.00 % $2,662.00 $0 $154 $0 2022 $16,791 $149,659 11.2 % High 3.00 % $2,741.86 $0 $149 $6,753 2023 $12,929 $170,804 7.6 % High 3.00 % $2,824.12 $0 $144 $0 2024 $15,897 $200,247 7.9 % High 3.00 % $2,908.84 $0 $0 $53,732 2025 -$34,927 $175,959 0.0 % High 3.00 % $2,996.10 $0 $0 $0 2026 -$31,931 $207,038 0.0 % High 3.00 % $3,085.99 $0 $0 $0 2027 -$28,845 $239,824 0.0 % High 3.00 % $3,178.57 $0 $0 $12,526 2028 -$38,192 $261,489 0.0 % High 3.00 % $3,273.92 $0 $0 $0 2029 -$34,918 $297,526 0.0 % High 3.00 % $3,372.14 $0 $0 $62,291 2030 -$93,836 $271,331 0.0 % High 3.00 % $3,473.31 $0 $0 $0 2031 -$90,363 $309,380 0.0 % High 3.00 % $3,577.51 $0 $0 $0 2032 -$86,786 $349,469 0.0 % High 3.00 % $3,684.83 $0 $0 $35,546 2033 -$118,647 $355,072 0.0 % High 3.00 % $3,795.38 $0 $0 $0 2034 -$114,851 $398,407 0.0 % High 3.00 % $3,909.24 $0 $0 $72,212 2035 -$183,154 $369,645 0.0 % High 3.00 % $4,026.51 $0 $0 $0 2036 -$179,127 $415,407 0.0 % High 3.00 % $4,147.31 $0 $0 $0 2037 -$174,980 $463,583 0.0 % High 3.00 % $4,271.73 $0 $0 $0 2038 -$170,708 $514,276 0.0 % High 3.00 % $4,399.88 $0 $0 $0 2039 -$166,308 $567,593 0.0 % High 3.00 % $4,531.88 $0 $0 $83,713 2040 -$245,490 $537,421 0.0 % High 3.00 % $4,667.83 $0 $0 $0 2041 -$240,822 $593,740 0.0 % High 3.00 % $4,807.87 $0 $0 $0 2042 -$236,014 $652,954 0.0 % High 3.00 % $4,952.10 $0 $0 $73,486 2043 -$304,547 $639,496 0.0 % High 3.00 % $5,100.67 $0 $0 $533,913 2044 -$833,360 $152,674 0.0 % High 3.00 % $5,253.69 $0 $0 $97,047 2045 -$925,153 $102,537 0.0 % High 3.00 % $5,411.30 $0 $0 $0 2046 -$919,742 $152,211 0.0 % High 3.00 % $5,573.64 $0 $0 $0 2047 -$914,168 $204,774 0.0 % High 3.00 % $5,740.85 $0 $0 $0 Association Reserves 3 www.reservestudy.com