Annual Meeting - November 5, 2014Annual Meeting - November 5, 2014

Call to Order & Introductions

2014 Review and Recognition

HOA Communications

Treasurer’s Report and Financial Update

Amendments

2015 Ideas

Open Floor for Other Topics

Agenda

Board of Trustees

Robert Weeks, President Brent Hardesty, Vice President Dave Perry, Treasurer

Association Manager Monica Bowles, Towne Properties

Association Attorney Lisa Conn, Esq. (Cuni, Ferguson & LeVay Co., L.P.A.)

Call to Order & Introductions

Improvements

Replacement Heater for Swimming Pool Updated landscaping at Weber road entrance

Continued Financial Transparency

Continued Efficient General Assessment Collections

4th Annual Mitchell Farm Yard Sale

Swim Club Maintenance Replaced pool furniture and umbrellas Repaired pool gate

2014 Review

Coral Kerns - 4th Annual Mitchell Farm Yard Sale

Holly Sattler & volunteers - Swim Club Maintenance

Karen Diercks– Pool Keys

Leslie Copp - Social Events

Lisa Moloney - Communications

2014 Recognition

Mitchell Farm Facebook & Yahoo page is managed

privately by one of the residents – no connection to HOA

Official HOA communication channels www.mitchellfarmhoa.com Email (Board members’ addresses found on site) Newsletter (email) Financials

Searching for a new Communications Chair Lisa Moloney (current chair) is ready to hand over the

baton – please let us know if you are interested in managing HOA communications

HOA Communications

OfficialMitchell Farm Website

www.mitchellfarmhoa.com

Give us your feedback

through our “Quick poll” section on the site!

This may also be the area we could use in the future for secure voting on HOA issues (if the electronic voting amendment passes)

OfficialMitchell Farm Website

Proposed Amendments

Robert Weeks, HOA President

Voting (Quorum)

Current: Requires high % of membership to attend HOA meeting in-person (or proxy) to reach a quorum

Future: Online and write-in voting will be equal to in person or proxy vote reaching quorum more likely

Proposed Amendment

Solar Panel InstallationCurrently, Section 8.3(E) prohibits temporary structures like solar panels and provides no approval authority to the Board

Proposed amendment for additional clarity (similar to fences)

Must mount on roof facing away from street Must maintain color scheme and style of home Must follow codes and get permit for installation Wiring must be contained in painted conduit

(hidden)

Proposed Amendment

Financial Update

Dave Perry, HOA Treasurer

As of September 30, 2014 Statements:

Operating Cash on hand: $74,983 Reserve CD Investments: $95,820 Total Assets: $170,803

Plus: Outstanding Receivables: $3,798.10

Treasurer’s Report and Financial Update

2014 Operating Budget: $63,000

YTD Operating Expenses (9/30): $35,892 Several large bills pending for insurance & tax acct/audit

before year end

Expecting to finish year under budget, AND contribute a positive cash flow to reserves!

2014 Expense & Budget Savings:

Treasurer’s Report and Financial Update

2014 Capital Improvement Spending from Reserves:

$8,584.38

Pool Heater $8,296.38

Gas line installation $288.00

Treasurer’s Report and Financial Update

Current Past Due (10/30/2014): $10,496.51 -

34 lots $5,895 of balance is from 2014 dues & late fees $4,723 previous past due balance

Includes late fees, collection fees, and lien fees

5 active liens >$5,000 of receivables

16 of the past due were $20 late fees 1 was $40 2 were $60

Treasurer’s Report and Financial Update

2015 Ideas

Robert Weeks, HOA President

Potential Improvements – VOTE ONLINE!

Pool Shade Playground update/renovation

Looking Ahead to 2015

Remember…

Be respectful when others are speaking

Keep your questions & comments to one minute or less

Open Floor for Other Topics