HUNTSVILLE AREA ASSOCIATION OF REALTORS®

BOARD OF DIRECTORS MEETING AGENDA

535 Monroe Street, Huntsville, AL

Tuesday,

September 24, 2013

9:30 AM

CALL MEETING TO ORDER JULIE LOCKWOOD

I. INVOCATION

II. PLEDGE OF ALLEGIANCE

III. CONSENT AGENDA JULIE LOCKWOOD

a) Motion to approve the HAAR Consent Agenda/Minutes

IV. APPROVE NALMLS MOTIONS

V. TREASURER’S REPORT KATHY MANN

a) July Financials

b) 2014 HAAR Budget

VI. PRESIDENT REMARKS JULIE LOCKWOOD

a) Election Committee

VII. CEO UPDATE KIPP COOPER

a) Updates

VIII. COMMITTEE REPORTS

a) Forms ROD SCHUMANN

b) Building Task Force BILL WARD

c) Finance & Budget KATHY MANN

d) Governmental Affairs STEVEN LAMAR

e) Affiliate Director CRAIG PAULUS

f) North Alabama CRS BONNIE BALLARD

g) WCR CINDI PETERS

h) YPN Huntsville JOHN EVANS

i) REALTORS in Action BETTY HUGHES

IX. OTHER BUSINESS

a)

ADJOURN MEETING

IMPORTANT DATES

October 4-7 2014 Officer Elections

October 10 Annual Membership Meeting

October 15 Finance & Budget Meeting (9am)

October 24-25 CRS Core Classes

October 25-28 Election of Directors

October 31 Membership Meeting (Speaker: Lt. Governor Kay Ivey)

1

BOARD OF DIRECTORS MEETING

OF

THE HUNTSVILLE AREA ASSOCIATION OF REALTORS®

September 24, 2013

CONSENT AGENDA

(Items listed on the Consent Agenda are expected to be routine and non-controversial and, unless the Board directs that an item be held for further discussion, the entire CONSENT AGENDA will be acted upon

for block approval. If the Board directs that an item listed on the CONSENT AGENDA be held for further discussion, the item will be addressed under “Other Business.”)

2

HAAR Consent Agenda September 24, 2013 ITEM PAGE Approval of August Minutes 3-6 Approval of Minutes (Special Called Meeting) 7 August Committee Reports 8 August/September 2013 Membership Report 9 NALMLS August Statistics 10

3

HUNTSVILLE AREA ASSOCIATION OF REALTORS®

OFFICERS & DIRECTORS MEETING MINUTES

Tuesday, August 20, 2013

9:30 AM

PRESENT: President Julie Lockwood, President-Elect Bill Stewart, MLS President Opie Balch, Secretary/Treasurer Kathy Mann, Attorney Bo Harrison, Bonnie Ballard, Ginny Brandau, Larry Carroll, John Evans, Steven LaMar, Zelda Lanza, Terry Lewis, Valerie Miles, Clif Miller, Craig Paulus, Landa Pennington, Cindi Peters, Tommy Pruett, Michael Rosenblum, Robert Simons, Regina Underwood, Bill Ward, Rod Weaver, Jan Wells, Mark Williams ABSENT: Betty Hughes, Lynn Kilgore, Rod Schumann STAFF: CEO Kipp Cooper, Christina Hearne, Rhonda Ricketts, Katy Fitzgerald, Tammy Owen At a meeting of the Officers and Directors, held at the Huntsville Area Association of REALTORS, 535 Monroe Street, Huntsville, AL., 35801, the meeting was called to order by President Julie Lockwood at 9:11am, Central Standard Time. Invocation and Pledge of Allegiance were led in the previous NALMLS Meeting. MOTION: To approve the HAAR Consent Agenda Motion Carried. TREASURERS REPORT Secretary/Treasurer Kathy Mann presented the June 2013 Financials.

HAAR Balance Sheet The HAAR balance sheet currently reflects total assets of $1,176,528 compared to $7,979 in liabilities. 98% of the current assets are in cash, CD, money market or restricted reserves. HAAR Profit and Loss Statement / Income Statement Income line 152513 - HAAR Dues 2013 reflects dues collection for 1,698 members (only 1,440 members were budgeted for 2013). Income line 1533.1 - Tech Expo is a new line item. The line currently reflects payment for 2 vendor booths. The Tech Expo is scheduled for July 31. We anticipate $2,500 in income and $2,210 in expenses for a net of $290. Attendance was around 125. Income line 1552 - Lockbox shows a profit of $9,447 for June depleting the inventory. In July, more lockboxes were ordered for inventory. The expense and income will be presented on the July financials. Expense line 1806 - Insurance is over budget by $357 as a result of a premium increase in our professional liability coverage thru NAR. The HAAR Income Statement reflects total income of $416,899 and total expense of $275,531 as of June 2013. The Net Income is $141,367 which is $40,070 more than budgeted for June. CONTRACT RENEGOTIATIONS: The janitorial contract was renegotiated mid-2012 for a savings of $8,844. The window cleaning contract was cancelled in 2013 for a savings of $600. Net Savings is $9,444. PRESIDENTS REMARKS President Julie Lockwood reminded everyone that between syndication, MLS Vendor, the building etc. there is going to be a lot going on the next few months. She encouraged everyone to get the info out to everyone so that our members know what is going on. She also emphasized how important the MLS Vendor Demo will be and encouraged everyone to get as many people there as possible. CEO UPDATE

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CEO, Kipp Cooper told everyone about the plans to have a Strategic Planning Session. He wants as many people to attend as possible so dates were discussed and the final date chosen was September 23

rd from 9am-Noon.

MOTION: To cancel the September Membership Meeting due to building renovations.

Motion Carried.

MOTION: To approve the NALMLS Motions from the previous meeting. (see Attachment A)

Motion Carried.

COMMITTEE REPORTS

Robert Simons gave a report from the Building Task Force. MOTION: If there is an increase in cost that an email be sent out to the Officers and Directors for consideration. Motion Carried. Rationale: If we do not do it now and do it right then we will not have a good opportunity to. And it is imperative for our future Governmental Affairs Committee Chair Steven Lamar had nothing to report. CRS President Bonnie Ballard reported that their next meeting is September 10

th and that the CRS Core Course will be here

October 24-25th

WCR President Cindi Tanner reported that their next meeting will be offsite on September 11

th and that they will be having

their annual basket auction and proceeds will go to benefit Harris Homes for Children and WCR. YPN Chair John Evans said their next event will be a Cornhole Tournament at Below the Radar and it will be on September 19

th.

NEW BUSINESS Meeting adjourned at 9:48am Minutes submitted respectfully by Christina Hearne for Kathy Mann.

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Attachment A-August 20, 2013 NALMLS Motions

MOTION TO APPROVE CONSENT AGENDA Opie Balch MOTION To approve the August 20, 2013 Consent Agenda. MOTION passed. MLS PRESDENT REMARKS Opie Balch MLS Committee Motions from the NALMLS Committee Meeting, August 13, 2013

MOTION To treat www.realtor.com like all syndication sites when NALMLS direct syndicates. Rationale: Currently realtor.com receives a separate feed with no agreement. They should be treated like all other syndication sites and should sign the same direct syndication agreement. MOTION Passed MOTION To add Square Footage field to all syndicated sites and valleymls.com. Rationale: Square Footage is not sent from NALMLS to any site. Incorrect information is posted taken from various sources. Accuracy is important to the public and to buyers and sellers. Public deserves accurate data from the best source which is us. MOTION Passed

Motions from Finance & Budget:

MOTION (This motion was revised in Finance & Budget) on August 19th

and the revised motion will be presented by Finance and Budget To borrow up to $75,000.00 from the NALMLS restricted reserves to invest into the development of the new Consumer/Public facing web site (ValleyMLS.COM) and pay it back over a 4 year period of $18,750.00 per year from the Google and Affiliate advertising revenue. Discussion: Question, will this be presented to general membership? Yes it will be presented. Hopefully we will have a tighter number coming through Finance & Budget. Amendment: Over a four year period, equal annual installments will be made. Amendment passed.

MOTION (This motion was revised in Finance & Budget) on August 19th

and the revised motion will be presented by Finance and Budget To borrow up to $75,000.00 from the NALMLS restricted reserves to invest into the development of the new Consumer/Public facing web site (ValleyMLS.COM) and pay it back over a 4 year period of equal payments per year from the Google and Affiliate advertising revenue. Note: The final cost and report from the ValleyMLS sub-committee to be presented back to Finance & Budget. MOTION passed.

MOTION: When the SouthBank CD#1306 ($105,313) matures, combine the SouthBank CD amount with the $48,159.62 from the Regions Money Market balance. Invest in a 1 – 5 year CD with a 1x no penalty withdrawal with highest available yield. Keep $75,000 in the Regions Money Market for use in the ValleyMLS website development. Rationale: Referring back to the approved June 18, 2013 motion:

To unrestrict the money market accounts for HAAR and NALMLS and rename them as HAAR and NALMLS “Money Market Operating Account.” To retain the 2013 dues in their respective money market accounts and to transfer the remaining balance into the “restricted reserve” CD or investment account.

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Company Amount Transferred Bank Account Balance As of 6/13/2013 HAAR $ 26,295.50 (2013 Dues) Regions MM $ 44,368.47 NALMLS $ 145,979.80 (2013 Dues) Regions MM $ 269,108.45

Upon review of the accounts, NALMLS does not hold a CD with Regions to move the balance of the money market into. The SouthBank CD matures at the end of August 2013. Motion 1 asked for $75,000 from reserves for ValleyMLS website development. The intent of F&B would be to have the unrestricted NALMLS Regions Money Market contain the 2013 dues amount of $145,979.80 as well as the $75,000 for Motion 1. The $75,000 will be transferred to the operating account when needed to pay for the expenditures related to the ValleyMLS website development. The balance of the funds then needing to be moved from the Regions Money Market would be approximately $48,159.62. This balance would be combined with the maturing SouthBank CD amount to open a new CD in the amount of approximately $153,472 at a financial institution which would yield a better rate as well as a one time out, no penalty option. MOTION passed.

Request for extreme family leave. Opie asked to be trusted and allow it to remain confidential.. MOTION: Move that we take Opie’s recommendation and grant leave.

MOTION passed.

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HAAR SPECIAL CALLED OFFICERS AND DIRECTORS MEETING MINUTES

September 4, 2013 10:00AM

PRESENT: Julie Lockwood, Opie Balch, Bill Stewart, Mike Sandoval, Terry Lewis, Zelda Lanza, Bill Ward, Cindi Peters, Landa Pennington, Ginny Brandau, Larry Carroll, Michael Rosenblum, Steven LaMar, Robert Simons, Clif Miller, Regina Underwood, Craig Paulus, Kathy Mann, Rod Schumann, Rod Weaver, Valerie Miles. ABSENT: Betty Hughes, Mark Williams, Tommy Pruett, Jan Wells, Carol Royster ASSOCIATION STAFF: From HAAR: Kipp Cooper, Christina Hearne, Elizabeth Pruett, Rhonda Ricketts, and Katy Fitzgerald. At the meeting of the Huntsville Area Association of REALTORS Officers & Directors, held at the Chamber of Commerce in Huntsville, AL 35801, the meeting was called to order by President Julie Lockwood. Special Called HAAR Meeting Julie Lockwood MOTION: To approve the NALMLS Motions from the previous meeting. Motion from the Special Called NALMLS Committee Meeting, September 4, 2013

MOTION Based on all of the information collected and the research done by the committee, the MLS Vendor Selection sub-committee recommends that LPS (1

st choice) or Corelogic (2

nd choice) be the replacement to the current

ListIt MLS System. Note: As previously stated, both MLS vendor selection committee and the membership rankings place LPS and Corelogic as the top 2 vendors. Cost: For budgeting purposes, the costs of the new MLS provider will not exceed our current MLS system fee. If approved, Matt Cohen with Clariety Consulting will begin contract negotiations with the 1

st choice vendor. If

negotiations fail, he will go to the 2nd

choice vendor to negotiate the best possible contract for NALMLS members. The final contract will go to the October Membership Meeting for ratification. MOTION PASSED.

Meeting was adjourned.

Minutes respectfully submitted by Christina Hearne

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August Committee Reports ARPAC The ARPAC fundraiser, Peace, Love and ARPAC is scheduled for September 26th from 5:30-9:30pm at the Depot Roundhouse. There will be food, drinks and fun! Dust off those platforms and put on your 70’s finest! We will have a drawdown for a chance to win up to $5000 in cash and a silent auction for some great items! We will also have a dance competition so if you want to enter yourself or a group from your company start working on your choreography. BYLAWS

Nothing to report. CARAVAN Nothing to report. FINANCE & BUDGET No report. FORMS No report. GRIEVANCE Nothing to report. GOVERNMENTAL AFFAIRS Nothing to report. Education Committee No report. ORIENTATION Nothing to report.

PROFESSIONAL STANDARDS Nothing to Report. REALTORS in Action No Report.

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Aug.-Sept., 2013 HAAR MEMBERSHIP REPORT

The Huntsville Area Association of REALTORS® has received 3 Designated REALTOR® Applications, 21 REALTOR® Applications, 4 Affiliate Applications and 1 Member Benefits Partners Applications from Aug. 12, 2013 thru Sep. 16, 2013.

DESIGNATED REALTOR®

Maria Binkley Binkley Real Estate Timothy Brown The Favour Group, Inc. G. Richard Demeree Demeree Realty

REALTOR®

Robert “Owen” Anderson @Home Realty Group Sheila Collins Trans Action Kimberly Dubak Opie Balch Realty Hannia C. Duncan Keller Williams Realty-MAD Wallace “Howard” Ellett Avast Realty Beverly Gallegos C-21 Steele & Asso.Mad. Kimberlee Grant Exit Total Realty Benjamin Heath Keller Williams Realty-HSV Thomas Kaeding Rise Real Estate-Main Tobiah “Toby” Karluk Exit Total Realty Benjamin Nemec Keller Williams Realty-HSV Grant Preston Rise Realty-Main Lindsey Ramsden Keller Williams Realty-Madison Kimberly H. Russell Keller Williams Realty-HSV Darcy L Saulnier Keller Williams Realty-HSV Jamie Schreiber Keller Williams Realty-HSV Monica D. Sharpe Smartt Realty, Inc. Pamela Shepard Legend Realty, LLC Nancy R Smith Averbuch Realty Rachel Smitherman Davenport Agents Kevin Waddell Leading Edge Real Estate

AFFILIATE

Fred Brown Eva Bank Mary Lawrence Southcrest Mortgage Marcia St. Louis Realty Title & Escrow Services of Alabama,Inc. Christina Williams 2-10 Home Buyers Warranty

MEMBER BENEFITS PARTNERS

Karen Price Conditioned Air Solutions

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Alabama Housing Statistics Reporting Form

North Alabama Multiple Listing System, Inc. (NALMLS)

Board: HUNTSVILLE AREA ASSOCIATION OF REALTORS Madison County

Month: August, 2013

MONTHLY TOTALS (This represents our previous form.)

# Sold This Month

Average Selling Price

Median Selling Price

Average Days On Market

# of Units on the Market

Total 552 $200,458 $173,210 103 3103

# Pending This Month

Average Pending Price

Median Pending Price

Average Days On Market

# of Units Currently Pending

Total 337 $200,429 $172,450 100 569

BY PROPERTY TYPE (Please mark "NR" if MLS cannot retrieve these figures)

# Sold This Month

Average Selling Price

Median Selling Price

Average Days On Market

# of Units on the Market

Existing SF (Single Family, Garden & Townhomes):

358 $184,679 $156,000 113 2,503

Condo(New & Existing):

14 $109,344 $74,656 221 99

New Construction: (Single Family, Garden & Townhomes)

180 $238,928 $219,481 83 501

PRICE DISTRIBUTION

Price Range: # of Total Sales: AVG DOM # of Current Active Listings

$99,999 OR UNDER 85 87 505

$100,000 - $124,999 46 117 252

$125,000 - $149,999 69 87 300

$150,000 - $199,999 125 65 640

$200,000 - $249,999 80 87 407

$250,000 - $299,999 57 62 341

$300,000 - $349,999 40 42 175

$350,000 - $399,999 22 90 150

$400,000 - $449,999 10 34 77

$450,000 - $499,999 7 99 69

$500,000 - $549,999 3 98 41

$550,000 - $599,999 3 26 35

$600,000 - $649,999 1 850 15

$650,000 - $699,999 1 277 21

$700,000 - $749,999 1 102 10

$750,000 - $799,999 0 13

$800,000 OR OVER 2 279 52

Motion from September 11, 2013 HAAR BYLAWS Committee Meeting Motion: To make the follow clarification to HAAR Bylaws:

ARTICLE X - DUES AND ASSESSMENTS

SECTION 1. APPLICATION FEE. The Board of Directors may adopt an application fee for REALTOR® membership in a reasonable amount, not exceeding three (3) times the amount of the annual dues for REALTOR® Membership. This fee must accompany each application and becomes the property of the Association upon final approval of the application. “ NOTE: REALTOR® membership dues for the purpose of this section includes Local, State and National Association Dues “

HUNTSVILLE AREA ASSOCIATION OF REALTORS

As of July 2013

Notes to HAAR 2013 July Financial Statement

HAAR Balance Sheet

The HAAR balance sheet currently reflects total assets of $1,187,066 compared to $7,976 in liabilities.

98% of the current assets are in cash, CD, money market or restricted reserves.

HAAR Profit and Loss Statement / Income Statement

Income line 152513 - HAAR Dues 2013 reflects dues collection for 1,705 members (only 1,440 members

were budgeted for 2013).

Income line 1503 - Application fee reflects 117 new members and 7 returning members.

Income line 1533.1 - Technology Expo shows receipt of $1000 in sponsorship.Expense line 1854.1 - Technology Expo

shows the expenses incurred as of July. Projected Income is $2,250, projected expense is $2,243.

Expense line 1843 - Membership Meetings consists of the expense for the luncheons. We are averaging 149 attendees.

The HAAR Income Statement reflects total income of $474,447 and total expense of $322,539 as of July 2013.

The Net Income is $151,907 which is $47,509 more than budgeted for July.

CONTRACT RENEGOTIATIONS:

The janitorial contract was renegotiated mid-2012 for a savings of $8,844.

The window cleaning contract was cancelled in 2013 for a savings of $600.

In 2012, HAAR spent $815 in postage to return defective items to Supra. In 2013, the member began paying HAAR

for this service: $5 lockbox, $5 key, $2.50 adapter, $2.50 fob. This has resulted in $94 savings to HAAR.

Reserve Goals Update

The HAAR reserve goal for 2103 is $646,871. As of July, we are at 91.11% of goal.

HUNTSVILLE AREA ASSOCIATION OF REALTORS

As of July 2013

Jul 31, 13

ASSETS

Current Assets

Checking/Savings 767,956.02

Accounts Receivable 180.98-

Other Current Assets 8,240.00

Total Current Assets 776,015.04

Fixed Assets 410,051.28

Other Assets 1,000.45

TOTAL ASSETS 1,187,066.77

LIABILITIES & EQUITY

Liabilities

Current Liabilities

Other Current Liabilities 7,976.91

Total Current Liabilities 7,976.91

Total Liabilities 7,976.91

Equity 1,179,089.86

TOTAL LIABILITIES & EQUITY 1,187,066.77

HUNTSVILLE AREA ASSOCIATION OF REALTORS

As of July 2013

Jul 31, 13

ASSETS

Current Assets

Checking/Savings

1101 · Petty Cash 300.00

1102 · Petty Cash - Key System 147.00

1103 · Regions Operating Account #0700 149,075.88

110594 · Regions MM #0618 44,369.49

1105 · Restricted - Operating Reserves 535,477.62

1108 · Restricted - Bldg Maint Reserve 25,594.12

1109 · Restricted - Computer Reserve 10,237.32

1112 · Regions#9286-Realtors in Action 2,754.59

Total Checking/Savings 767,956.02

Accounts Receivable

1115 · A/R Other 19.00

1121 · A/R - from MLS 199.98-

Total Accounts Receivable 180.98-

Other Current Assets

1194 · Prepaid Income Tax 8,240.00

Total Other Current Assets 8,240.00

Total Current Assets 776,015.04

Fixed Assets

1202 · Building Accessories 3,815.54

1203 · Land (Purchased July 1980) 130,722.50

1204 · Furniture & Equipment 7,805.84

1215 · Land Improvements 4,109.91

1217 · Computer Equipment 838.45

1218 · Original Building 0.12

1219 · Building Addition 128,174.86

1220 · Trademark 5,929.16

1230 · Copyright 260.69

1250 · HAAR Logo 2,880.90

1221 · Leasehold Improvements 125,513.31

Total Fixed Assets 410,051.28

Other Assets

1225 · Investment in MLS 1,000.45

Total Other Assets 1,000.45

TOTAL ASSETS 1,187,066.77

LIABILITIES & EQUITY

Liabilities

Current Liabilities

Other Current Liabilities

1300.1 · A/P - Realtors in Action 2,754.59

HUNTSVILLE AREA ASSOCIATION OF REALTORS

As of July 2013

Jul 31, 13

130413 · Payable - NAR Assmt 2013 420.00

130513 · Payable - NAR Dues 2013 790.00

130613 · Payable - AAR Dues 2013 949.17

130713 · Payable - AAR New Member fee 1,200.00

130913 · Payable - ARPAC 2013 20.00

1316 · Payable - Other 199.00

1317 · Atrium Fund 64.33

1320 · Deferred Income 618.50

1324 · Building Use - Refundable Dep 800.00

1380 · Sales Taxes Payable 161.32

Total Other Current Liabilities 7,976.91

Total Current Liabilities 7,976.91

Total Liabilities 7,976.91

Equity

3900 · Fund Balance 1,027,181.91

Net Income 151,907.95

Total Equity 1,179,089.86

TOTAL LIABILITIES & EQUITY 1,187,066.77

HUNTSVILLE AREA ASSOCIATION OF REALTORS

As of July 2013

Jan - Jul 13 YTD Budget Variance

% of YTD

Budget

2013 Annual

Budget

Ordinary Income/Expense

Income

1502 · Interest Income 813.46 800.00 13.46 101.68% 3,000.00

1503 · Application Fees 48,000.00 47,000.00 1,000.00 102.13% 60,000.00

1511 · Gift Card Sponsor Income 250.00 0.00 250.00 100.0% 0.00

1515 · Member Benefits Partner Program 2,246.33 0.00 2,246.33 100.0% 0.00

1520 · Late Fees 6,555.00 11,000.00 4,445.00- 59.59% 11,000.00

1524 · Annual Key Maintenance 30,059.00 26,900.00 3,159.00 111.74% 31,500.00

152513 · HAAR Dues 2013 187,670.21 159,840.00 27,830.21 117.41% 159,840.00

1526 · Rent Income - MLS 47,250.00 47,250.00 0.00 100.0% 81,000.00

1527 · Education Income 9,845.00 10,050.00 205.00- 97.96% 11,600.00

1527.1 · Orientation Income 5,025.00 4,125.00 900.00 121.82% 4,125.00

15291 · Banquet Sponorships & Ticket Sales 11,755.00 15,000.00 3,245.00- 78.37% 15,000.00

1530 · Misc Income 4,135.73 1,000.00 3,135.73 413.57% 1,000.00

1531 · Building Rental Income 3,850.00 3,675.00 175.00 104.76% 4,000.00

1533 · REALTOR Expo 0.00 0.00 0.00 0.0% 11,480.00

1533.1 · Technology Expo Income 1,000.00 0.00 1,000.00 100.0% 0.00

1535 · ARPAC Event Income 2,000.00 2,000.00 0.00 100.0% 15,000.00

15351 · Arbitration/Mediation Fees 750.00 250.00 500.00 300.0% 1,500.00

1538 · Maps Income 434.70 287.50 147.20 151.2% 350.00

1539 · GMM Luncheon Income 14,509.00 14,400.00 109.00 100.76% 22,789.00

1546 · Royalties from NALMLS 18,320.00 17,280.00 1,040.00 106.02% 34,560.00

1547 · POC from NALMLS 37,350.00 36,000.00 1,350.00 103.75% 72,000.00

1552 · KeyBoxes 35,600.00 35,600.00 0.00 100.0% 44,625.00

1553 · Supra Activekey Car Charger 275.00 250.00 25.00 110.0% 375.00

1554 · Supra Ekey Fob 4,140.00 3,000.00 1,140.00 138.0% 3,000.00

1555 · Supra Replacement Key Container 77.00 90.00 13.00- 85.56% 100.00

1556 · Supra IPhone Adapter 2,537.00 2,670.00 133.00- 95.02% 7,080.00

Total Income 474,447.43 438,467.50 35,979.93 108.21% 594,924.00

Gross Profit 474,447.43 438,467.50 35,979.93 108.21% 594,924.00

HUNTSVILLE AREA ASSOCIATION OF REALTORS

As of July 2013

Jan - Jul 13 YTD Budget Variance

% of YTD

Budget

2013 Annual

Budget

Expense

1735 · Accounting 424.04 475.00 50.96- 89.27% 1,500.00

1735.1 · Audit 24,115.48 27,000.00 2,884.52- 89.32% 27,000.00

1736 · Dues & Subscriptions 2,750.00 2,000.00 750.00 137.5% 2,000.00

1740 · Advertising 120.00 200.00 80.00- 60.0% 6,120.00

1743 · ARPAC (Golden R $2000) 2,000.00 2,000.00 0.00 100.0% 2,000.00

1743.1 · ARPAC Event Expense 0.00 0.00 0.00 0.0% 12,500.00

1756 · Bank Svc Charge & CC Processing 3,295.50 4,300.00 1,004.50- 76.64% 6,000.00

1766 · Copier/Fax 1,028.42 1,050.00 21.58- 97.95% 1,800.00

1771 · Chamber of Commerce-HREGI (15K) 4,000.00 4,000.00 0.00 100.0% 10,000.00

1773 · Depreciation Expense 19,635.00 19,635.00 0.00 100.0% 35,000.00

1774 · Amortization Expense 427.00 427.00 0.00 100.0% 0.00

1776 · Education & Seminars 5,371.79 5,550.00 178.21- 96.79% 10,000.00

1785 · Grievance Committee 0.00 0.00 0.00 0.0% 500.00

1786 · Installation Banquet 9,906.05 15,000.00 5,093.95- 66.04% 15,000.00

1806 · Insurance 5,357.00 5,000.00 357.00 107.14% 5,000.00

1825 · Hospitality 0.00 0.00 0.00 0.0% 1,000.00

18271 · Lockbox-SUPRA 23,305.41 24,000.00 694.59- 97.11% 40,000.00

18272 · Lockbox Buyback 2,650.00 2,850.00 200.00- 92.98% 5,000.00

18275 · EKey Fob 3,556.94 1,000.00 2,556.94 355.69% 1,000.00

18276 · IPhone Adapter 1,924.89 2,050.00 125.11- 93.9% 6,500.00

1831 · Legal 300.00 300.00 0.00 100.0% 4,000.00

1838 · Member Profitability 0.00 0.00 0.00 0.0% 1,000.00

1839 · Member Relations 2,430.30 2,000.00 430.30 121.52% 2,000.00

1840 · Governmental Affairs 1,200.00 1,200.00 0.00 100.0% 15,000.00

1843 · Membership Meetings 7,989.29 8,700.00 710.71- 91.83% 19,000.00

1845 · Office Expense/Supplies 1,998.63 2,050.00 51.37- 97.49% 5,460.00

1846 · Open House 0.00 0.00 0.00 0.0% 5,000.00

1847 · Business Meetings 1,368.67 1,470.00 101.33- 93.11% 4,500.00

1848 · Network Server Maintenance 2,474.62 2,465.00 9.62 100.39% 4,160.00

1850 · Postage 919.24 2,044.00 1,124.76- 44.97% 3,500.00

1853 · Professional Standards Comm 129.87 150.00 20.13- 86.58% 500.00

1854 · REALTOR Expo Expense 0.00 0.00 0.00 0.0% 7,750.00

1854.1 · Technology Expo Expense 1,903.56 0.00 1,903.56 100.0% 0.00

1855 · Printing 0.00 0.00 0.00 0.0% 1,500.00

18560 · Security System 279.00 279.00 0.00 100.0% 960.00

18561 · Janitorial Services 3,899.52 5,795.00 1,895.48- 67.29% 10,620.00

18562 · Landscaping & Lawn Care 2,661.00 2,380.00 281.00 111.81% 4,080.00

18563 · Pest Control 1,120.06 1,032.00 88.06 108.53% 1,576.00

18564 · Electrical 754.61 800.00 45.39- 94.33% 1,000.00

18565 · Plumbing 0.00 0.00 0.00 0.0% 500.00

18566 · Heat & A/C 1,339.10 1,350.00 10.90- 99.19% 2,296.00

18568 · Repairs and Maintenance 1,520.06 1,675.00 154.94- 90.75% 2,850.00

18569 · Waste Dumpster Services 546.00 546.00 0.00 100.0% 1,236.00

1861 · Special Projects 0.00 0.00 0.00 0.0% 1,000.00

1864 · Orientation 2,277.10 2,350.00 72.90- 96.9% 4,125.00

HUNTSVILLE AREA ASSOCIATION OF REALTORS

As of July 2013

Jan - Jul 13 YTD Budget Variance

% of YTD

Budget

2013 Annual

Budget

1865 · Service from MLS 141,029.56 141,029.56 0.00 100.0% 241,765.00

1866 · Tax Penalty 57.00 0.00 57.00 100.0% 0.00

1867 · Strategic Planning 3,333.34 3,000.00 333.34 111.11% 3,000.00

1870 · Taxes - Property 0.00 0.00 0.00 0.0% 14,450.00

1873 · Travel 20,367.95 22,100.00 1,732.05- 92.16% 53,763.00

1874 · Telephone 1,750.00 1,960.00 210.00- 89.29% 3,360.00

1880 · Utilities 11,004.48 12,831.00 1,826.52- 85.77% 22,000.00

1892 · Miscellaneous 19.00 25.00 6.00- 76.0% 1,000.00

1990 · Provision for Income Tax 0.00 0.00 0.00 0.0% 16,000.00

Total Expense 322,539.48 334,068.56 11,529.08- 96.55% 646,871.00

Net Ordinary Income 151,907.95 104,398.94 47,509.01 145.51% 51,947.00-

Net Income 151,907.95 104,398.94 47,509.01 145.51% 51,947.00-

Reserves Goal 646,871.00

Reserves Amount 589,383.05

Difference 57,487.95

Percentage of goal 91.11%

HUNTSVILLE AREA ASSOCIATION OF REALTORS

As of July 2013

Jan - Dec 13

Ordinary Income/Expense

Income

1502 · Interest Income 3,000.00

1503 · Application Fees 60,000.00

1510 · Affiliate Sponsorship 0.00

1520 · Late Fees 11,000.00

1524 · Annual Key Maintenance 31,500.00

152513 · HAAR Dues 2013 159,840.00

1526 · Rent Income - MLS 81,000.00

1527 · Education Income 11,600.00

1527.1 · Orientation Income 4,125.00

15291 · Banquet Sponorships 15,000.00

1530 · Misc Income 1,000.00

1531 · Building Rental Income 4,000.00

1533 · REALTOR Expo 11,480.00

1535 · ARPAC Event Income 15,000.00

15351 · Arbitration/Mediation Fees 1,500.00

1538 · Maps Income 350.00

1539 · GMM Luncheon Income 22,789.00

1546 · Royalties from NALMLS 34,560.00

1547 · POC from NALMLS 72,000.00

1552 · KeyBoxes 44,625.00

1553 · Supra Activekey Car Charger 375.00

1554 · Supra Ekey Fob 3,000.00

1555 · Supra Replacement Key Container 100.00

1556 · Supra IPhone Adapter 7,080.00

Total Income 594,924.00

Gross Profit 594,924.00

Expense

1735 · Accounting 1,500.00

1735.1 · Audit 27,000.00

1736 · Dues & Subscriptions 2,000.00

1740 · Advertising 6,120.00

1743 · ARPAC (Golden R $2000) 2,000.00

1743.1 · ARPAC Event Expense 12,500.00

1756 · Bank Svc Charge & CC Processing 6,000.00

1766 · Copier/Fax 1,800.00

1771 · Chamber of Commerce-HREGI (15K) 10,000.00

1773 · Depreciation Expense 35,000.00

1774 · Amortization Expense 0.00

1776 · Education & Seminars 10,000.00

1785 · Grievance Committee 500.00

1786 · Installation Banquet 15,000.00

1806 · Insurance 5,000.00

1825 · Hospitality 1,000.00

18271 · Lockbox-SUPRA 40,000.00

HUNTSVILLE AREA ASSOCIATION OF REALTORS

As of July 2013

Jan - Dec 13

18272 · Lockbox Buyback 5,000.00

18274 · ActiveKey Car Charger 0.00

18275 · EKey Fob 1,000.00

18276 · IPhone Adapter 6,500.00

1831 · Legal 4,000.00

1838 · Member Profitability 1,000.00

1839 · Member Relations 2,000.00

1840 · Governmental Affairs 15,000.00

1843 · Membership Meetings 19,000.00

1845 · Office Expense/Supplies 5,460.00

1846 · Open House 5,000.00

1847 · Business Meetings 4,500.00

1848 · Network Server Maintenance 4,160.00

1850 · Postage 3,500.00

1853 · Professional Standards Comm 500.00

1854 · REALTOR Expo Expense 7,750.00

1855 · Printing 1,500.00

18560 · Security System 960.00

18561 · Janitorial Services 10,620.00

18562 · Landscaping & Lawn Care 4,080.00

18563 · Pest Control 1,576.00

18564 · Electrical 1,000.00

18565 · Plumbing 500.00

18566 · Heat & A/C 2,296.00

18567 · Ice Maker 0.00

18568 · Repairs and Maintenance 2,850.00

18569 · Waste Dumpster Services 1,236.00

1861 · Special Projects 1,000.00

1864 · Orientation 4,125.00

1865 · Service from MLS 241,765.00

1867 · Strategic Planning 3,000.00

1870 · Taxes - Property 14,450.00

1873 · Travel 53,763.00

1874 · Telephone 3,360.00

1880 · Utilities 22,000.00

1892 · Miscellaneous 1,000.00

1990 · Provision for Income Tax 16,000.00

Total Expense 646,871.00

Net Ordinary Income 51,947.00-

Net Income 51,947.00-

HUNTSVILLE AREA ASSOCIATION OF REALTORS

As of July 2013

HAAR Membership Count: Projected Dues Income

As of September 3, 2013: 1564 Realtors and Designated Realtors 159,840.00$

Other Notes Member Count for HAAR as of 7/8/2013

Number of members who terminated since 2012 0 Active Primary Realtor/DR 1544

Number of members who went inactive since 12/31/2012 130 Active Affiliates 87

Number of members on medical/military leave in 2013 1 Member Benefits Partner 15

Active Primary Realtor/DR count as of 12/31/2012 1571

Active Primary Realtor/DR count as of 8/1/2013 1549 Member Count for NALMLS as of 8/26/2013

Suspended Realtor/DR as of 8/1/2013 0 Active Realtor/DR 2343

Member Benefits Partner as of 8/1/2013 21 Suspended Realtor/DR 4

Active Affiliates as of 8/1/13 81 Active Affiliates 38

Renewable Contracts: Purpose Term Expires 2013 Amount

UTC (formerly Supra) - Income ActiveKEY 6 years 2/1/2015 ActiveKEY $21/holder annually

UTC (formerly Supra) - Income eKEY 6 years 2/1/2015 eKEY $2/holder monthly

UTC (formerly Supra) - Expense Lockboxes 6 years 2/1/2015 $89 new / $69 refurb + s/h & tax

UTC (formerly Supra) - Expense Lockbox key container assembly 6 years 2/1/2015 $9.30 + s/h & tax

UTC (formerly Supra) - Expense iPhone adapter 6 years 2/1/2015 $49.95 + s/h & tax

UTC (formerly Supra) - Expense eKEY fob 6 years 2/1/2015 $49.95 + s/h & tax

Chamber of Commerce Chamber website annually 12/1/2012 1,470.00$

Chamber of Commerce HREGI 5/1/2012 10,000.00$

Elavon Credit card processor 3 year 4/1/2015 $66 base fee + % on card type (1.39% - 3.21%)

AON Insurance Professional Liability insurance annually 4/1/2014 4,600.00$

C.N.A. Insurance Building insurance annually 6/1/2013 1,679.00$

Frank Riddick Governmental Affairs annually annually 12,000.00$

Guardian Storage Unit offsite storage monthly monthly 2,460.00$

Intermedia Exchange Email & shared calendar hosting. Shared w/ NALMLS annually 2/1/2014 936.48$

Professional Security System quarterly monitoring 3 year 5/31/2015 372.00$

Jani-King janitoral service monthly monthly 5,820.00$

Elite Pest Control monthly pest control service annually 8/1/2014 900.00$

Cooks Pest Control quarterly termite service annually 11/1/2013 676.00$

Conditioned Air Solutions quarterly preventive maintenace on air units annually 8/1/2013 3,888.00$

Fish Window Cleaning quarterly window cleaning service quarterly quarterly 600.00$ cancelled

Koorsen Fire Protection annual fire extinguisher inspection annually 4/1/2014 $150 basic charge

NALMLS Intercompany services & allocation of salaries annually 1/1/2014 20,147.08$

NALMLS - POC Point of contact fee & royalties annually 1/1/2014 POC will start in 2013

Huntsville Utilities monthly monthly monthly $1800 average

Waste Away monthly monthly monthly 936.00$

Superior Trimmers monthly monthly monthly 4,080.00$

Captial Items Purchased: Amount Purchased Date

Non Budgeted Items Purchased: Amount Vendor Purchased Date

Transfers from Reserves

Date

Transferred

Date

Approved Purpose

$19,000 6/18/2013 2014 Installation Banquet deposits and expenses. To be repaid in 2014.

$75,000 7/23/2013 Remediation & repairs of the conference rooms. To be repaid in installments over a 6yr period beginning in 2014

$18,073.99 pending 6/18/2013 This will leave $26,295.50 which is the amount of the 2013 dues collected in 2012 and deposited into the Regions money

market prior to the money market being classifed as restricted. $18,073.99 will be transferred to a restricted CD or

other restricted money market account.

HUNTSVILLE AREA ASSOCIATION OF REALTORS

As of July 2013

Name Company

Sarah Slagger Rousseau's Sporting Goods & Awards

Ambre Twitty Sarah Taggart, PC

Bubba Conner Bubba's Silver Spoon Catering

Shea Brandon Superior Trimmers

Gregory Glass Schlotzskys / 5 Guys / Nothing but Noodles

Ken McFarlen Jade Communications

Ben Logan DataPro, LLC

Denise Rodgers Rodgers Painting & Repair, LLC

Katie England W & R Studios

Rhett Lambert Lambert Record Center

Otis Moore D &D Floors and Moore, LLC

Cuan Tregelles Valley Hill Country Club

Sasha England Smarter Agent

Justin Brewer Verizon Wireless

Odel Applewhite Applewhite Movers, LLC

Joe Beecroft Spray's, Inc

Virgil Allen Home Financial Services of Huntsville

Carlos Mendoza Pendragon Safety, Security, & Storm Shelters

Jeff McKelvey Jeff McKelvey Web Design

Patti Mullins Coleman American Moving Services

Kim Warren Tennessee Valley Sign & Printing

Gary Doran Elite Pest Control

Karen Price Conditioned Air Solutions

2013 Member Benefits Partners

September 17, 2013 F&B Meeting HAAR Motions

Motion: To approve the proposed 2014 travel budget as presented.

Rationale: Every effort has been made by the Travel Taskforce to present a conservative travel budget yet still provide ample reimbursement to our

volunteers. In order to accomplish this, the following are the changes we are recommending for the 2014 travel budget:

Transportation: Full reimbursement for mileage/air. Encourage carpooling.

Awards: Eliminated reimbursement.

Stipend: $200 each for 15 HAAR directors attending the AAR Winter Meeting OR the AAR Summer Meeting $200 each for 5 HAAR committee/taskforce chairs attending their respective AAR meeting

Per Diem: $50/day to AAR meetings, $75/day to NAR meetings. o HAAR and NALMLS Officers will be reimbursed as follows:

AAR Winter Meeting: 3 days AAR Summer Meeting: 4 days AAR Annual Meeting: 4 days NAR Mid-Year Meeting: 6 days NAR Annual Meeting: 5 days

o State Directors will be reimbursed as follows: AAR Winter Meeting: 1 day AAR Summer Meeting: 4 days AAR Annual Meeting: 4 days

Hotel: Full reimbursement to HAAR Officers, ½ room rate reimbursement for State Directors. Encourage room sharing and lodging at non-conference hotels.

o HAAR and NALMLS Officers will be reimbursed as follows: AAR Winter Meeting: 2 nights AAR Summer Meeting: 3 nights AAR Annual Meeting: 3 nights NAR Mid-Year Meeting: 6 nights NAR Annual Meeting: 4 nights

o State Directors will be reimbursed as follows: AAR Winter Meeting: 0 nights AAR Summer Meeting: 3 nights AAR Annual Meeting: 3 nights

AE: Travel will be equally allocated between HAAR & NALMLS.

The above proposed changes will result in estimated travel expenses to HAAR of $62,725.

Motion: To approve the proposed 2014 HAAR Budget as presented.

Page 1 of 2

September 3, 2013 F&B Meeting HAAR Motions

Motion: To approve the proposed 2014 Capital Requests as presented.

Asset Account# 2014 HAAR Capital Requests

Room B projector and screen for back wall

$ 9,279.19

12041

Upgrade of current wireless network

$ 9,000.00

12171

3 new work stations

$ 6,000.00

12171

IMS Server (registrations & dues payments) $ 12,000.00 12171

Total for HAAR Capital requests:

$ 36,279.19

HAAR Capital requests approved by O&D on July 23, 2013:

To loan $75,000 from the HAAR Restricted Reserves to the HAAR Building Reserve Fund. A payment of $25,000 will be made to the HAAR Restricted Reserve Fund in November 2014 when the HAAR Building Reserve Funds matures. The remaining $50,000 shall be repaid to the HAAR Restricted Reserves Fund over a 6 year period beginning with the 2014 budget.

To authorize up to a total of $75,000 from the HAAR Building Reserve Fund which may be expended for all necessary repairs and reasonable upgrades of the classrooms damaged by water and moisture.

Page 2 of 2

HAAR 2014 Proposed Budget

2013 Budget 2014 Proposed

Income

1502 · Interest Income 3,000.00 2,000.00

1503 · Application Fees 60,000.00 71,820.00

1511 · Gift Card Sponsor - 1,000.00

1515 · Member Benefits Partner Program - 2,500.00

1516 · Newsletter Advertising - 6,000.00

1520 · Late Fees 11,000.00 6,500.00

1524 · Annual Key Maintenance 31,500.00 36,669.00

1525 · Local Dues 159,840.00 181,471.68

1526 · Rent Income - MLS 81,000.00 81,000.00

1527 · Education Income 11,600.00 19,000.00

1527.1 · Orientation Income 4,125.00 9,000.00

1527.2 · Pre/Post Licensing Income - 7,980.00

15291 · Banquet Sponorships & Ticket Sales 15,000.00 27,500.00

1530 · Misc Income 1,000.00 1,000.00

1531 · Building Rental Income 4,000.00 4,000.00

1533 · REALTOR Expo Income 11,480.00 11,480.00

1533.1 · Tech Expo Income - 4,000.00

1535 · ARPAC Event Income 15,000.00 15,000.00

15351 · Arbitration/Mediation Fees 1,500.00 1,500.00

15352 · Ethics Fines - -

1536 · Lease of Computer System - -

1538 · Maps Income 350.00 350.00

1539 · GMM Luncheon Income 22,789.00 20,015.00

1546 · Royalties from NALMLS 34,560.00 35,550.72

1547 · POC from NALMLS 72,000.00 74,064.00

1552 · KeyBoxes 44,625.00 52,500.00

1553 · Supra Activekey Car Charger 375.00 250.00

1554 · Supra Ekey Fob 3,000.00 5,794.20

1555 · Supra Replacement Key Container 100.00 100.00

1556 · Supra iPhone Adapter 7,080.00 3,776.00

Total Income 594,924.00 681,820.60

Gross Profit 594,924.00 681,820.60

Expense

1735 · Accounting 1,500.00 500.00

1735.1 · Audit 27,000.00 24,250.00

1736 · Dues & Subscriptions 2,000.00 3,200.00

1740 · Advertising & Public Relations 6,120.00 6,504.00

1743 · ARPAC (Golden R $2000) 2,000.00 2,000.00

1743.1 · ARPAC Event Expense 12,500.00 12,500.00

1756 · Bank Svc Charge & CC Processing 6,000.00 6,000.00

1757 · BRAC Expenses - -

1761 · Charitable Projects ($5,000) - -

1762 · Contributions - -

1766 · Copier/Fax 1,800.00 1,800.00

1771 · Chamber of Commerce-HREGI 10,000.00 10,000.00

1773 · Depreciation Expenses** 35,000.00 34,800.00

1774 · Amortization Expense 1,200.00

1776 · Education & Seminars 10,000.00 9,500.00

1777 · Pre/Post Licensing Expense - 3,980.00

1785 · Grievance Committee 500.00 600.00

1786 · Installation Banquet 15,000.00 25,000.00

1806 · Insurance 5,000.00 5,500.00

1825 · Hospitality 1,000.00 -

18271 · Lockbox-SUPRA 40,000.00 39,000.00

18272 · Lockbox Buyback 5,000.00 4,000.00

18274 · ActiveKey Car Charger - 100.00

18275 · EKey Fob 1,000.00 4,500.00

18276 · iPhone Adapter 6,500.00 3,200.00

1831 · Legal 4,000.00 4,000.00

1838 · Member Profitability 1,000.00 -

1839 · Member Relations 2,000.00 2,000.00

1840 · Governmental Affairs 15,000.00 15,000.00

1842 · Maps Expense - -

1843 · Membership Meetings 19,000.00 15,000.00

1845 · Office Expense/Supplies 5,460.00 5,460.00

HAAR 2014 Proposed Budget

2013 Budget 2014 Proposed

1846 · Open House 5,000.00 5,000.00

1847 · Business Meetings 4,500.00 6,036.00

1848 · Network Server Maintenance 4,160.00 6,325.00

1850 · Postage 3,500.00 900.00

1853 · Professional Standards Comm 500.00 600.00

1854 · REALTOR Expo Expense 7,750.00 8,000.00

1854.1 · Technology Expo Expense - 2,500.00

1855 · Printing 1,500.00 1,500.00

18560 · Security System 960.00 960.00

18561 · Janitorial Services 10,620.00 6,720.00

18562 · Landscaping & Lawn Care 4,080.00 5,280.00

18563 · Pest Control 1,576.00 1,676.00

18564 · Electrical 1,000.00 1,000.00

18565 · Plumbing 500.00 1,000.00

18566 · Heat & A/C 2,296.00 2,296.00

18568 · Repairs and Maintenance 2,850.00 3,000.00

18569 · Waste Dumpster Service 1,236.00 1,136.00

1861 · Special Projects 1,000.00 500.00

1864 · Orientation 4,125.00 4,800.00

1865 · Service from MLS 241,765.00 257,392.50

1866 · Tax Penalty

1867 · Strategic Planning 3,000.00 1,000.00

1870 · Taxes - Property 14,450.00 14,250.00

1873 · Travel 53,763.00 62,725.00

1874 · Telephone 3,360.00 3,000.00

1880 · Utilities 22,000.00 20,500.00

1892 · Miscellaneous 1,000.00 500.00

1990 · Provision for Income Tax 16,000.00 15,000.00

Total Expense 646,871.00 673,190.50

(51,947.00) 8,630.10

Payback of Building Renovation Loan - (33,333.33)

Building CD#0962 maturity - 25,000.00

(51,947.00) 296.77

Other Income

1505 · Investment in NALMLS (17,909.86) - Item eliminated as of 2012 audit

Total Other Income (17,909.86) -

(69,856.86) 8,630.10

The following are Non-cash expenditures:

1773 · Depreciation Expenses 35,000.00 34,800.00

1774 · Amortization Expenses 1,200.00

1505 · Investment in NALMLS 17,909.86 - Item eliminated as of 2012 audit

(16,947.00) 43,430.10

Additional Notes:

% of reserves to meet: 646,871.00 673,190.50