HUNTSVILLE AREA ASSOCIATION OF REALTORS®

BOARD OF DIRECTORS MEETING AGENDA

535 Monroe Street, Huntsville, AL

Tuesday,

December 17, 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. TREASURER’S REPORT KATHY MANN

a) September Financials

b) Signature Cards

V. PRESIDENT REMARKS JULIE LOCKWOOD

a) 2014 Calendar

b) R.C.E Announcement

c) Overview of Roads Initiative by Mayor Tommy Battle

VI. CEO UPDATE KIPP COOPER

a) Updates

b) Letter from Dekalb County

c) Building

VII. COMMITTEE REPORTS

a) Finance & Budget KATHY MANN

b) Governmental Affairs STEVEN LAMAR

c) Affiliate Director CRAIG PAULUS

d) North Alabama CRS BONNIE BALLARD

e) WCR CINDI PETERS

f) YPN Huntsville JOHN EVANS

g) 2014 REALTOR Gala BETTY HUGHES

VIII. OTHER BUSINESS

a) 2014 Committees

IX. New BUSINESS

ADJOURN MEETING

IMPORTANT DATES

January 11 REALTOR Gala 6:00pm

January 15 Director/Committee Chair & Co-Chair Orientation 9-1:30am

January 21-23 AAR Winter Conference, Montgomery

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BOARD OF DIRECTORS MEETING

OF

THE HUNTSVILLE AREA ASSOCIATION OF REALTORS®

December 17, 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.”)

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HAAR Consent Agenda December 17, 2013 ITEM PAGE Approval of November 2013 Minutes 3-5 Approval of 10/31/2013 Electronic Minutes 6 Approval of 12/5/2013 Electronic Minutes 7 November Committee Reports 7 November/December 2013 Membership Report 8 NALMLS November Statistics 9

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HUNTSVILLE AREA ASSOCIATION OF REALTORS®

OFFICERS & DIRECTORS MEETING MINUTES Tuesday, November 19, 2013

8:30 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, Betty Hughes, Steven LaMar, Zelda Lanza, Terry Lewis, Valerie Miles, Clif Miller, Cindi Peters, Tommy Pruett, Michael Rosenblum, Rod Schumann, Regina Underwood, Bill Ward, Rod Weaver, Mark Williams ABSENT: Lynn Kilgore, Craig Paulus, Landa Pennington, Robert Simons, Jan Wells STAFF: CEO Kipp Cooper, Christina Hearne, Rhonda Ricketts, Katy Fitzgerald At a meeting of the Officers and Directors, held at 535 Monroe Street, Huntsville, AL., 35801, the meeting was called to order by President Julie Lockwood at 8:35 am, Central Standard Time. Invocation and Pledge of Allegiance were led by Julie Lockwood. MOTION: To approve the HAAR Consent Agenda Motion Carried. TREASURERS REPORT Secretary/Treasurer Kathy Mann presented the September 2013 Financials.

HAAR Balance Sheet The HAAR balance sheet currently reflects total assets of $1,193,984 compared to $13,484 in liabilities. 96% of the current assets are in cash, CD, money market or restricted reserves. HAAR Profit and Loss Statement / Income Statement Income line 1503 - Application fee reflects 155 new members and 8 returning members. Income line 152513 - HAAR Dues 2013 reflects dues collection for 1,744 members (only 1,440 members were budgeted for 2013). As of September we are 19% ahead of budget in dues collection. Income line 1533.1 - Technology Expo reflects income of $2,250 and expense line 1854.1 - Technology Expo reflects expenses of $2,404 resulting in a net income loss for September of $154.46. The remaining sponsor payment posted in October for a final net income of $95.54. Income line 1539 - GMM Luncheon of $15,785 is attributable to the collection of prepaid reservations as well as the paid monthly reservations. The offsetting expense of $9,452 is on line 1843 - Membership Meetings. The average attendance for paid and comp reservations is 163. The HAAR Income Statement reflects total income of $568,355 and total expense of $415,038 as of September 2013. The Net Income is $153,317 which is $59,212 more than budgeted for September. 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 $113 savings to HAAR. Secretary/Treasurer Kathy Mann presented the motions from the November 18, 2013 Finance and Budget Committee meeting

HAAR Motion: To require 6 months of reserves based on the budgeted annual expenses and to commit the remainder to long term investments. Rationale: In researching what other associations have as reserve goals, most maintain 6 months of reserves on hand. Keeping 6 months of liquid reserves will allow for immediate access to the funds if needed and prevent us from incurring the higher penalties associated with long term investments. The 6 months of liquid reserves would be invested in CD’s and Money Markets. Any remainder will be committed to a long term investment which will provide the potential for better yield on the funds.

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A board of trustees would be established to oversee the long term investment and to create an investment strategy and policy. The Finance & Budget Committee would ratify decisions made by this board of trustees.

Motion to table Motion to table is carried.

PRESIDENTS REMARKS President Julie Lockwood presented the 2014 Calendar

2014 Proposed Calendar

Orientation Membership Mtg HAAR O&D NALMLS January n/a n/a 28-Jan 28-Jan February Feb 3-4 6-Feb 25-Feb n/a March March 3-4 6-Mar 25-Mar 25-Mar April April 7-8 10-Apr 22-Apr n/a May May 5-6 8-May 20-May 20-May June June 2-3 5-Jun 24-Jun n/a July July 7-8 10-Jul 22-Jul 22-Jul August August 4-5 7-Aug 26-Aug n/a September September 8-9 11-Sep 23-Sep 23-Sep October October 6-7 9-Oct 21-Oct n/a November November 3-4 6-Nov 25-Nov 25-Nov December December 1-2 n/a 16-Dec n/a

President Julie Lockwood reminded everyone that since Larry Carroll is moving into the Secretary/Treasurer spot that the remainder of his term needs to be filled. Board went into executive session Board reconvened. It was decided that Paul Buxton will serve the remaining year (2014) left in Larry Carroll’s term. CEO UPDATE CEO, Kipp Cooper shared with everyone that Arely Jaimes Gomez received her Professional Standards Certification.

CEO, Kipp Cooper reminded everyone that we will be having a Committee Open House on December 2nd and he encourage everyone to share it with their offices and get everyone to come out and check out ways to get involved.

CEO, Kipp Cooper reminded everyone that the Annual Open House is December 12th from 5-8pm.

CEO, Kipp Cooper told everyone that there is a Call to Action from NAR in regards to the Flood Insurance. He asked that everyone please take the time and encourage their offices to respond to it.

COMMITTEE REPORTS

Finance and Budget Chair, Kathy Mann reminded everyone that the next Finance and Budget meeting is December 16th at 9am. Forms Chair Rod Schumann said that he and Betty Hughes met and they talked to Chris Booth from the Real Estate Commission and got some clarification in regards to HOA’s. His response on the HOA was that because we are a caveat emptor state that we cannot require it, but we can request it. If we require info that is not required by law then we put the association and agents at risk.

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Governmental Affairs Chair Steve Lamar had nothing to report. WCR President Cindi Peters Tanner reported that their Installation is on December 11th. REALTOR Gala Chair Betty Hughes reminded everyone that the Gala is on January 11th and that they can purchase their tickets online. NEW BUSINESS MOTION: To approve the following committee Chairs and Co-Chairs: MLS Committee Chair: Kathy Mann

Staff Liaison: Rhonda Ricketts

Orientation Committee Chair: Jim Hoekenschnieder Co-Chair: Leslie Turner

Staff Liaison: Christina Hearne

Professional Standards Chair: Rod Schumann Co-Chair: Clif Miller

Staff Liaison: Barbara Adams/Arely Jaimes

REALTORS in Action Chair: Jim Johnson

Staff Liaison: Arely Jaimes

ARPAC Committee Chair: Sha Jarboe Co-Chair: Barbra Hubler Staff Liaison: Christina Hearne and Katy Fitzgerald

Bylaws Committee Chair: Bill Ward Co-Chair: Nancy VanValkenburgh Staff Liaison: Elizabeth Pruett

Caravan Committee Chair: Roy Claytor Co-Chair: Jim Davis Staff Liaison: Page Brooks

Forms Committee Chair: Marsha Buxton Co-Chair: Lisa Montijo

Staff Liaison: Rhonda Ricketts

Governmental Affairs Chair: Steven Lamar Co-Chair: Larry Carroll

Staff Liaison: Christina Hearne

Grievance Committee Chair: Terry Lewis Co-Chair: Barry Berman Staff Liaison: Barbara Adams/ Arely Jaimes

Education Committee Chair: Dave Trueb Co-Chair: April Parker

Staff Liaison: Christina Hearne Motion Carried. Board went into Executive Session Board reconvened.

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Meeting adjourned at 9:58am Minutes submitted respectfully by Christina Hearne for Kathy Mann.

HUNTSVILLE AREA ASSOCIATION OF REALTORS

OFFICERS AND DIRECTORS ELECTRONIC MEETING MINUTES

October 31, 2013 10:18am

ELECTRONIC NOTICE SENT TO: Opie Balch, Julie Lockwood, Bill Stewart, Kathy Mann, Ginny Brandau, Larry Carroll, Steven LaMar, Zelda Lanza, Terry Lewis, Valerie Miles, Clif Miller, Landa Pennington, Tommy Pruett, Michael Rosenblum, Robert Simons, Regina Underwood, Bill Ward, Rod Weaver, Jan Wells, Betty Hughes, Rod Schumann, Mark Williams, Craig Paulus ELECTRONIC RESPONSE RECEIVED FROM: Opie Balch, Julie Lockwood, Bill Stewart, Kathy Mann, Ginny Brandau, Larry Carroll, Steven LaMar, Zelda Lanza, Terry Lewis, Valerie Miles, Clif Miller, Landa Pennington, Michael Rosenblum, Robert Simons, Regina Underwood, Bill Ward, Rod Weaver, Jan Wells, Betty Hughes, Rod Schumann, Mark Williams, Craig Paulus VERBAL RESPONSE RECEVIED FROM: Tommy Pruett ELECTRONIC NOTICE SENT TO ASSOCIATION STAFF: Kipp Cooper, Katy Fitzgerald, Christina Hearne, Elizabeth Pruett, Frank Riddick, Rhonda Ricketts, Tammy Owen The following was sent via email on October 31, 2013 at 10:18 am TO APPROVE THE HAAR ELECTRONIC MOTION: Motion:

To have Conditioned Air Solutions (our current and very reliable vendor) repair/replace a cracked heat exchanger and leak in one of the HVAC units at a cost of $3,957.57.

Rationale:

Conditioned Air discovered the cracked heat exchange during their quarterly inspection and shut off the gas to avoid releasing carbon monoxide gases into the building. This particular HVAC unit services the large kitchen, executive foyer and an office. This is an extreme necessary repair.

Two quotes have been obtained. The repair will go to the HAAR line item 18566 - Heating & Air.

Motion passed.

Minutes respectfully submitted by Katy Fitzgerald

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HUNTSVILLE AREA ASSOCIATION OF REALTORS OFFICERS AND DIRECTORS ELECTRONIC MEETING MINUTES

December 5, 2013 10:18am

ELECTRONIC NOTICE SENT TO: Opie Balch, Julie Lockwood, Bill Stewart, Kathy Mann, Ginny Brandau, Larry Carroll, Steven LaMar, Zelda Lanza, Terry Lewis, Valerie Miles, Clif Miller, Landa Pennington, Tommy Pruett, Michael Rosenblum, Robert Simons, Regina Underwood, Bill Ward, Rod Weaver, Jan Wells, Betty Hughes, Rod Schumann, Mark Williams, Craig Paulus ELECTRONIC RESPONSE RECEIVED FROM: Opie Balch, Julie Lockwood, Bill Stewart, Ginny Brandau, Steven LaMar, Zelda Lanza, Terry Lewis, Valerie Miles, Clif Miller, Landa Pennington, Michael Rosenblum, Bill Ward, Rod Weaver, Jan Wells, Betty Hughes, Rod Schumann, Mark Williams, Craig Paulus ELECTRONIC NOTICE SENT TO ASSOCIATION STAFF: None The following was sent via email on December 5, 2013 at 1:38pm Your URGENT action is needed on the following issue: This morning the Government Affairs Committee and Executive Committee were briefed by Huntsville City Mayor Tommy Battle on a major long-term road improvement plan that he will be presenting to the City Council this evening. This plan will require an expenditure of twenty five million dollar per year to be match by the State of Alabama over the next five years for major road improvements and expansions that will allow for us to maintain or current 19 minute working commute and quality of life. The plan will also provide the ability for our entire region to continue to attract major new companies and jobs. According to the Mayor, every means of funding this match has been debated and studied. Due to the regional nature of the use of these roads, he believes the sales tax is the fairest place to look as twenty five percent of the city sales tax is paid by commuters purchasing items and traveling these roads. His proposal would call for a one percent increase in the sales tax and this would bring the Huntsville tax up to the level of our surrounding major cities that are already at 9%. After a lengthy question and answer period with the Mayor and a great deal of discussion, it was unanimously decided by the Government Affairs Committee to send a letter of support for the Mayors Road and infrastructure improvement plan and to have our President speak in support of the proposal at this evenings City Council Meeting where the plan will be formally introduced. Motion from the Government Affairs Committee and the concurrence of the Executive Committee: To send letters of support of the Mayors Road and Infrastructure Proposal to each of the Huntsville City Council members and to have our Association President speak in favor of the proposal on behalf of the Huntsville Area Association of REALTORS® at the proposals introduction at this evenings City Council meeting. Please reply with your approval or opposition of this Motion by 5pm. Motion passed.

Minutes respectfully submitted by Christina Hearne

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November Committee Reports ARPAC No report. BYLAWS Nothing to report. CARAVAN Nothing new to report. We need more help for next year. We do not have enough to do tours at this point. –Jim Davis FINANCE & BUDGET No report. FORMS No report. GRIEVANCE Nothing to report. GOVERNMENTAL AFFAIRS No report. Education Committee No report. ORIENTATION Nothing to report. PROFESSIONAL STANDARDS No Report. REALTORS in Action Nothing to Report.

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Nov.-Dec. 2013 HAAR MEMBERSHIP REPORT

The Huntsville Area Association of REALTORS® has received 1 Designated REALTOR® Applications, 16 REALTOR® Applications, 0 Affiliate Applications and 1 Member Benefits Partners Applications from Nov. 11, 2013 thru Dec. 09, 2013.

DESIGNATED REALTOR®

Amanda Howard Amanda Howard New Construction

REALTOR®

Jean Nicole Bishop “Nikki” Legend Realty Torey Boyd Legend Realty Ivonne I. Campbell Weichert Realtors-The Space Place Freddie “Delane” Erby Exit Realty of the Valley-HSV Hugh Hartwig Austin Realty Group Shannon T. Hoyt Weichert Realtors-The Space Place Michael Kase Legend Realty Glenn Meder Legend Realty Angie Raetz Avar Realty Carl D. Randal Keller Williams Realty-HSV Mary Satoro Keller Williams Realty-Madison Tamara Snyder Avast Realty Shanaz Soltani Keller Williams Realty-Madison Nathan Thomas Adams Homes Ricky “Brett” Underwood Underwood Land Company Matthew Underwood Underwood Land Company

AFFILIATE

MEMBER BENEFITS PARTNERS

Anthony Smith Infinity Fire & Water Restoration, LLC

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Alabama Housing Statistics Reporting Form North Alabama Multiple Listing System, Inc. (NALMLS)

Board: HUNTSVILLE AREA ASSOCIATION OF REALTORS

Month: November, 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 343 $180,859 $160,000 104 3030

# Pending This Month

Average Pending Price

Median Pending Price

Average Days On Market

# of Units Currently Pending

Total 206 $188,087 $175,000 111 455

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):

252 $154,910 $140,500 101 2,416

Condo(New & Existing): 7 $155,786 $117,000 191 92 New Construction: (Single Family, Garden & Townhomes)

84 $260,795 $242,094 109 522

PRICE DISTRIBUTION Price Range: # of Total Sales: AVG DOM # of Current Active Listings $99,999 OR UNDER 73 88 489 $100,000 - $124,999 39 80 246 $125,000 - $149,999 43 94 348 $150,000 - $199,999 78 100 610 $200,000 - $249,999 42 105 374 $250,000 - $299,999 17 75 354 $300,000 - $349,999 19 56 147 $350,000 - $399,999 17 56 139 $400,000 - $449,999 7 31 76 $450,000 - $499,999 3 321 70 $500,000 - $549,999 2 0 36 $550,000 - $599,999 2 79 30 $600,000 - $649,999 0 15 $650,000 - $699,999 1 25 23 $700,000 - $749,999 0 11 $750,000 - $799,999 0 13 $800,000 OR OVER 0 49

ARPAC

YEAR 2014 CHAIR Sha Jarboe CO-CHAIR Barbra Hubler Comm. Members Holly Polston Susan Gatlin Ginny Brandau Lisa Glisson Steven Lamar Larry Carroll Regina Green Betsy Jarret Julie Laten

Richard VanValkenburgh

Isaac Winkles

BYLAWS

YEAR 2014 CHAIR Bill Ward

CO-CHAIR Nancy Van Valkenburgh

Kathy Mann (2nd vp) Larry Carroll sec/treas) Barbara Martin Jenninfer Perrault Mark Williams Elbert Balch Heather Batchelor Jay Jones Ginny Brandau Landa Pennington

EDUCATION

YEAR 2014 Chair Dave Trueb Co-Chair April Parker

Paula Mahalik

Lynn Watts

Chuck Johnson

Tim Brown

Opie Ba;lch

Tracy Hitt

Carlos Romero

Bruce Walker

Amy Frakes

Kathleen Gardner

Andrea Carraway

Dee James

Mary Lynne Dowling

Melanie Brooks

Janice Gilbreath

PERSONEL POLICY

YEAR 2014 A Past President Julie Lockwood

MLS President Kathy Mann

Director Regina Underwood

Member-At-Large Sherry Dinges (2014)

Member-At-Large

Elizabeth Cooper-Golden (2015)

Ex officio (pres.) Bill Stewart

FINANCE & BUDGET

YEAR 2014 CHAIR Larry Carroll CO-CHAIR MLS President Kathy Mann President Elect Opie Balch Ex Officio Julie Lockwood Bill Ward (1) Paul Buxton (1) Carrie Turner (2) Sarah Hereford (2) Tommy Pruett (3) Kristina Bass (3)

FORMS

YEAR 2014 CHAIR Marsha Buxton CO-CHAIR Lisa Montijo MEMBERS Barbra Hubler Gerald Maxwell Robert Simons

Michelle Omenski

Rod Schumann Tammy Owen Deb Welbourn Bill Ward Leslie Turner Mike James John Richard Linda Sheffield Theresa Moss Tammy Maden Barry Berman

GOVERNMENTAL AFFAIRS

YEAR 2014 CHAIR Steven Lamar CO-CHAIR Larry Carroll COMM MEMBERS Bruce Walker James Lomax Tim Brown Barbra Hubler Pat Cassity Opie Balch Lore Hislop

Tabitha Kontour

Regina Green John Dickerson Sha Jarboe Bill Ward Mark Williams Bill McEwen Sid Pugh Dennis Puent Patty Winkles Zelda Lanza Mike Crawford

CARAVAN

CHAIR Roy Claytor CO-CHAIR Jim Davis

MEMBERS Denise Edwards

Christina Williams

GRIEVANCE

YEAR 2014 CHAIR Terry Lewis CO-CHAIR Barry Berman MEMBERS John Morley Thelma Dawson

Nancy VanValkenburgh

Carey Rosenblum Ashley Brown Marsha Buxton Robin Graham

ORIENTATION

YEAR 2014 CHAIR Jim Hoekenschnieder CO-CHAIR Leslie Turner COMM MEMBERS Ainsley Bowen Tony Laten Patty Winkles Sandra Seay Tammy Owen Craig Lamar Paul Buxton Denise Edwards Loraine Cordule Amy Frakes MaryLynne Dowling Mike James Bill Ward Robert Simons Clif Miller Steve Cawthon Richard VanValkenburgh

PROFESSIONAL STANDARDS

YEAR member

count 2014 CHAIR Rod Schumann CO-CHAIR Clif Miller

MEMBERS 1 Sid Pugh 2 Dorris Griffin 3 Isaac Winkles 4 Barbra Hubler 5 Dee James 6 Sonia Burnett 7 Gerald Maxwell 8 Kathleen Gardner 9 Regina Underwood 10 Jeff Nixon 11 Landa Pennington 12 Theresa Moss 13 Julie Laten 14 Craig Lamar 15 Loraine Cordule 16 Michael Davis 17 Bill Ward 18 Leslie Turner 19 Anne Owen 20 Jim Hoekenschnieder 21 Margaret Mann 22 Jennifer Perrault 23 Larry Perrault 24 Cindi Peters 25 Sophia Moore

26 Pat West 27 Dottie Madison 28 Rod Weaver 29 Ed Pendergrass 30 Matt Curtis 31 Paul Buxton 32 Jay Jones 33 Debbie Epperson 34 Zelda Lanza

35 Loretta Largo

To approve the 2014 signature cards for HAAR:

Bill Stewart, HAAR President

Larry Carroll, Secretary/Treasurer

Kipp Cooper, Executive Vice President

Katy Fitzgerald, Finance Director

November 21, 2013

Kipp Cooper, CEO HAAR and NALMLS 535 Monroe Street NW Huntsville, AL 35801

Dear Kipp,

The Board of Directors for the DeKalb County Association of Realtors would like to formulate an agreement with HAAR which would allow our Brokers and Agents to obtain Electronic Keys and/or Lockboxes. While this original agreement would be for the Association as a whole, any other agreements for Electronic Keys or Lockboxes would be between HAAR and each individual Broker and/or Agent. We are aware that this request for an agreement will have to be taken to the HAAR Board of Directors, for approval.

Please let me know if there is any additional information, we the Board of Directors for the DeKalb County Association of Realtors, can or need to provide to secure the above described agreement.

Sincerely,

Rita Adrian Chitwood, President DeKalb County Association of Realtors rita@southern-agency.com 256-996-0867

HUNTSVILLE AREA ASSOCIATION OF REALTORS As of October 2013

Notes to HAAR 2013 October Financial Statement

HAAR Balance Sheet

The HAAR balance sheet currently reflects total assets of $1,168,814 compared to $18,044 in liabilities.

96% of the current assets are in cash, CD, money market or restricted reserves.

HAAR Profit and Loss Statement / Income Statement

Income line 1503 - Application fee reflects 181 new members and 8 returning members.

Income line 152513 - HAAR Dues 2013 reflects dues collection for 1,770 members (only 1,440 members were budgeted for 2013). As of

October we are 19% ahead of budget in dues collection.

Income line 1552 - Keyboxes shows a profit of $11,018.07 over the expense lines 18271 & 18272 however we have more boxes on order.

Expense line 1776 - Education & Seminars of $6,902 includes the HAAR School of Real Estate surety bond and license.

Expense line 1880 - Utilites reflect expenses of $17,285. The September & October invoices were higher than anticipated however we remained

under budget. Utility usage for the year is projected to come in under budget by approximately $1,800.

The HAAR Profit & Loss Statement reflects total income of $602,819 and total expense of $478,435 as of October 2013.

The Net Income is $124,343 which is $77,150 more than budgeted for October.

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 $231 savings to HAAR as of October 2013.

Reserve Goals Update

The HAAR reserve goal for 2013 is $646,871. As of October, HAAR has $589,751 in reseves which is 91.17% of the 2013 goal.

The current reserves amount will provide approximately 11 months of operating expenses.

646,871.00$

Reserves Actual:Restricted - Operating Reserves 553,907.31

Restricted - Bldg Maint Reserve 25,607.02

Restricted - Computer Reserve 10,237.32

589,751.65$

57,119.35$

91.17%

Reserves Goal:

Reserves Actual as listed above:Difference between Goal and Actual:

Percentage of Goal:

HUNTSVILLE AREA ASSOCIATION OF REALTORS Summary Balance Sheet

As of October 31, 2013

Oct 31, 13

ASSETS

Current Assets

Checking/Savings 678,484.70

Accounts Receivable 556.20

Other Current Assets 23,035.00

Total Current Assets 702,075.90

Fixed Assets 465,738.05

Other Assets 1,000.45

TOTAL ASSETS 1,168,814.40

LIABILITIES & EQUITY

Liabilities

Current Liabilities

Other Current Liabilities 18,044.85

Total Current Liabilities 18,044.85

Total Liabilities 18,044.85

Equity 1,150,769.55

TOTAL LIABILITIES & EQUITY 1,168,814.40

Page 2 of 9

HUNTSVILLE AREA ASSOCIATION OF REALTORS Balance Sheet

As of October 31, 2013

Oct 31, 13

ASSETS

Current Assets

Checking/Savings

1101 · Petty Cash 300.00

1102 · Petty Cash - Key System 147.00

1103 · Regions Operating Account #0700 57,037.05

110594 · Regions MM#0618 26,297.51

1105 · Restricted - Operating Reserves 553,907.31

1108 · Restricted - Bldg Maint Reserve 25,607.02

1109 · Restricted - Computer Reserve 10,237.32

1112 · Regions#9286-Realtors in Action 4,951.49

Total Checking/Savings 678,484.70

Accounts Receivable

1121 · A/R - from MLS 556.20

Total Accounts Receivable 556.20

Other Current Assets

1190 · Prepaid Expenses 10,675.00

1194 · Prepaid Income Tax 12,360.00

Total Other Current Assets 23,035.00

Total Current Assets 702,075.90

Fixed Assets

1202 · Building Accessories 3,770.54

1203 · Land (Purchased July 1980) 130,722.50

1204 · Furniture & Equipment 7,136.84

1215 · Land Improvements 4,001.91

1217 · Computer Equipment 730.45

1218 · Original Building 0.12

1219 · Building Addition 123,515.86

1220 · Trademark 5,809.16

1230 · Copyright 254.69

1250 · HAAR Logo 2,823.90

1221 · Leasehold Improvements 186,972.08

Total Fixed Assets 465,738.05

Other Assets

1225 · Investment in MLS 1,000.45

Total Other Assets 1,000.45

TOTAL ASSETS 1,168,814.40

LIABILITIES & EQUITY

Liabilities

Current Liabilities

Other Current Liabilities

1300.1 · A/P - Realtors in Action 4,951.49

130413 · Payable - NAR Assmt 2013 385.00

130513 · Payable - NAR Dues 2013 350.00

130613 · Payable - AAR Dues 2013 566.66

130713 · Payable - AAR New Member fee 1,100.00

1316 · Payable - Other 6,169.00

1320 · Deferred Income 3,528.92

1324 · Building Use - Refundable Dep 800.00

1380 · Sales Taxes Payable 193.78

Total Other Current Liabilities 18,044.85

Total Current Liabilities 18,044.85

Total Liabilities 18,044.85

Equity

3900 · Fund Balance 1,027,181.91

Net Income 123,587.64

Total Equity 1,150,769.55

TOTAL LIABILITIES & EQUITY 1,168,814.40

Page 3 of 9

HUNTSVILLE AREA ASSOCIATION OF REALTORS Profit & Loss Budget vs. Actual

January through October 2013

Jan - Oct 13 YTD Budget Variance % of BudgetAnnual Budget

Ordinary Income/Expense

Income

1502 · Interest Income 1,184.07 1,195.00 10.93- 99.09% 3,000.00

1503 · Application Fees 73,800.00 58,000.00 15,800.00 127.24% 60,000.00

1511 · Gift Card Sponsor Income 300.00 0.00 300.00 100.0% 0.00

1515 · Member Benefits Partner Program 2,383.83 0.00 2,383.83 100.0% 0.00

1520 · Late Fees 6,635.00 11,000.00 4,365.00- 60.32% 11,000.00

1524 · Annual Key Maintenance 32,617.00 29,200.00 3,417.00 111.7% 31,500.00

152513 · HAAR Dues 2013 191,186.41 159,840.00 31,346.41 119.61% 159,840.00

1526 · Rent Income - MLS 67,500.00 67,500.00 0.00 100.0% 81,000.00

1527 · Education Income 10,380.00 11,050.00 670.00- 93.94% 11,600.00

1527.1 · Orientation Income 7,500.00 4,125.00 3,375.00 181.82% 4,125.00

15291 · Banquet Income 11,755.00 15,000.00 3,245.00- 78.37% 15,000.00

1530 · Misc Income 4,964.96 1,000.00 3,964.96 496.5% 1,000.00

1531 · Building Rental Income 4,845.00 4,000.00 845.00 121.13% 4,000.00

1533 · REALTOR Expo 11,975.00 11,480.00 495.00 104.31% 11,480.00

1533.1 · Technology Expo Income 2,500.00 0.00 2,500.00 100.0% 0.00

1535 · ARPAC Event Income 6,310.00 10,000.00 3,690.00- 63.1% 15,000.00

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

1538 · Maps Income 441.45 338.75 102.70 130.32% 350.00

1539 · GMM Luncheon Income 18,054.42 20,150.00 2,095.58- 89.6% 22,789.00

1546 · Royalties from NALMLS 27,682.00 25,920.00 1,762.00 106.8% 34,560.00

1547 · POC from NALMLS 56,025.00 54,000.00 2,025.00 103.75% 72,000.00

1552 · KeyBoxes 53,560.00 44,625.00 8,935.00 120.02% 44,625.00

1553 · Supra Activekey Car Charger 550.00 325.00 225.00 169.23% 375.00

1554 · Supra Ekey Fob 6,720.00 3,000.00 3,720.00 224.0% 3,000.00

1555 · Supra Replacement Key Container 132.00 100.00 32.00 132.0% 100.00

1556 · Supra IPhone Adapter 3,068.00 3,920.00 852.00- 78.27% 7,080.00

Total Income 602,819.14 536,018.75 66,800.39 112.46% 594,924.00

Gross Profit 602,819.14 536,018.75 66,800.39 112.46% 594,924.00

Expense

1735 · Accounting 599.04 675.00 75.96- 88.75% 1,500.00

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

1736 · Dues & Subscriptions 2,595.00 2,000.00 595.00 129.75% 2,000.00

1740 · Advertising 684.00 800.00 116.00- 85.5% 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 10,135.55 12,500.00 2,364.45- 81.08% 12,500.00

1756 · Bank Svc Charge & CC Processing 4,176.31 5,300.00 1,123.69- 78.8% 6,000.00

1766 · Copier/Fax 1,478.42 1,500.00 21.58- 98.56% 1,800.00

1771 · Chamber of Commerce-HREGI (15K) 4,900.00 5,000.00 100.00- 98.0% 10,000.00

1773 · Depreciation Expense 28,050.00 28,050.00 0.00 100.0% 35,000.00

1774 · Amortization Expense 610.00 610.00 0.00 100.0% 0.00

1776 · Education & Seminars 6,902.29 7,150.00 247.71- 96.54% 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 38,741.93 36,000.00 2,741.93 107.62% 40,000.00

Page 4 of 9

HUNTSVILLE AREA ASSOCIATION OF REALTORS Profit & Loss Budget vs. Actual

January through October 2013

Jan - Oct 13 YTD Budget Variance % of BudgetAnnual Budget

18272 · Lockbox Buyback 3,800.00 4,100.00 300.00- 92.68% 5,000.00

18275 · EKey Fob 6,027.81 1,000.00 5,027.81 602.78% 1,000.00

18276 · IPhone Adapter 2,478.03 2,600.00 121.97- 95.31% 6,500.00

1831 · Legal 1,991.25 2,000.00 8.75- 99.56% 4,000.00

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

1839 · Member Relations 2,479.43 2,000.00 479.43 123.97% 2,000.00

1840 · Governmental Affairs 1,600.00 1,600.00 0.00 100.0% 15,000.00

1843 · Membership Meetings 12,575.09 13,900.00 1,324.91- 90.47% 19,000.00

1845 · Office Expense/Supplies 2,780.77 3,400.00 619.23- 81.79% 5,460.00

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

1847 · Business Meetings 2,466.20 2,595.00 128.80- 95.04% 4,500.00

1848 · Network Server Maintenance 3,142.82 3,185.00 42.18- 98.68% 4,160.00

1850 · Postage 1,205.19 2,920.00 1,714.81- 41.27% 3,500.00

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

1854 · REALTOR Expo Expense 8,058.00 7,750.00 308.00 103.97% 7,750.00

1854.1 · Technology Expo Expense 2,404.46 0.00 2,404.46 100.0% 0.00

1855 · Printing 0.00 0.00 0.00 0.0% 1,500.00

18560 · Security System 372.00 372.00 0.00 100.0% 960.00

18561 · Janitorial Services 5,035.68 8,450.00 3,414.32- 59.59% 10,620.00

18562 · Landscaping & Lawn Care 3,678.00 3,400.00 278.00 108.18% 4,080.00

18563 · Pest Control 1,513.08 1,426.00 87.08 106.11% 1,576.00

18564 · Electrical 969.98 1,000.00 30.02- 97.0% 1,000.00

18565 · Plumbing 0.00 0.00 0.00 0.0% 500.00

18566 · Heat & A/C 2,260.18 1,972.00 288.18 114.61% 2,296.00

18568 · Repairs and Maintenance 2,633.83 2,850.00 216.17- 92.42% 2,850.00

18569 · Waste Dumpster Services 780.00 780.00 0.00 100.0% 1,236.00

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

1864 · Orientation 3,819.18 3,725.00 94.18 102.53% 4,125.00

1865 · Service from MLS 201,470.80 201,470.80 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 14,244.80 14,450.00 205.20- 98.58% 14,450.00

1873 · Travel 27,073.00 28,950.00 1,877.00- 93.52% 53,763.00

1874 · Telephone 2,500.00 2,800.00 300.00- 89.29% 3,360.00

1880 · Utilities 17,285.64 18,330.00 1,044.36- 94.3% 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 478,435.50 488,785.80 10,350.30- 97.88% 646,871.00

Net Ordinary Income 124,383.64 47,232.95 77,150.69 263.34% 51,947.00-

124,383.64 47,232.95 77,150.69 263.34% 51,947.00-

Net Income

Reserves Goal 646,871.00

Reserves Amount 589,751.65

Difference 57,119.35

Percentage of goal 91.17%

Page 5 of 9

HUNTSVILLE AREA ASSOCIATION OF REALTORS Profit & Loss Budget Overview

January through December 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

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

Page 6 of 9

HUNTSVILLE AREA ASSOCIATION OF REALTORS Profit & Loss Budget Overview

January through December 2013

Jan - Dec 13

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-

Page 7 of 9

HUNTSVILLE AREA ASSOCIATION OF REALTORS As of September 2013

HAAR Membership Count: Budgeted Dues Income Actual Dues Income

As of November 1, 2013: 1567 Realtors and Designated Realtors 159,840.00$ $190,237.66

Other Notes Member Count for HAAR as of 9/3/2013

Number of members who terminated since 2012 0 Active Primary Realtor/DR 1564

Number of members on medical/military leave in 2013 1 Member Benefits Partner 22

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

Active Primary Realtor/DR count as of 12/2/2013 1572 Member Count for NALMLS as of 10/25/2013

Suspended Realtor/DR as of 12/2/2013 0 Active Realtor/DR 2319

Member Benefits Partner as of 12/2/2013 24 Suspended Realtor/DR 75

Active Affiliates as of 12/2/2013 90 Active Affiliates 34

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

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

C.N.A. Insurance Building insurance annually 6/1/2014 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$

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

Cooks Pest Control quarterly termite service annually auto renew 676.00$

Conditioned Air Solutions quarterly preventive maintenace on air units open open 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

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 ReservesDate

Approved Date

Transferred Amount Used Purpose

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

$10,000.00 Deposit

$9,000.00 Remaining Balance of Banquet Loan

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

$8,243.80 Conditioned Air

$8,370.56 Jerry Minor Cleaning & Restoration

$46,613.00 Metro Commercial Contracting

$1,300.00 Terrell Technical Services (pre & post testing)

$1,158.45 B&H and Home Depot: cabling & connectors

$59.68 Additional paint & painting supplies

$1,428.39 Scott Lighting

$7,826.12 Remaining Balance of Remediation Loan

$18,073.99 6/18/2013 10/15/2013 $18,073.99 Moved to Regions CD#8604 (shown in Restricted Operating Reserves on Balance Sheet)

Name Company

Odel Applewhite Applewhite Movers, LLC

Bubba Conner Bubba's Silver Spoon Catering

Patti Mullins Coleman American Moving Services

Karen Price Conditioned Air Solutions

Otis Moore D &D Floors and Moore, LLC

Ben Logan DataPro, LLC

Gary Doran Elite Pest Control

Virgil Allen Home Financial Services of Huntsville

Anthony Smith Infinity Fire & Water Restoration

Ken McFarlen Jade Communications

Jeff McKelvey Jeff McKelvey Web Design

Rhett Lambert Lambert Record Center

Carlos Mendoza Pendragon Safety, Security, & Storm Shelters

Denise Rodgers Rodgers Painting & Repair, LLC

Sarah Slagger Rousseau's Sporting Goods & Awards

Ambre Twitty Sarah Taggart, PC

Gregory Glass Schlotzskys / 5 Guys / Nothing but Noodles

Sasha England Smarter Agent

Joe Beecroft Spray's, Inc

Shea Brandon Superior Trimmers

Kim Warren Tennessee Valley Sign & Printing

Cuan Tregelles Valley Hill Country Club

Justin Brewer Verizon Wireless

Katie England W & R Studios

2013 Member Benefits Partners

F&B Meeting, December 16, 2013 HAAR Motion: To establish an Investment Committee which will be comprised of: · The Executive Committee · Two members from Finance & Budget · One at large member selected by the HAAR President · The CEO of the association (ex officio/non voting) · Chairperson (Secretary/Treasurer or their designee) Rationale:

In researching how other businesses have structured their investment committees, the Finance & Budget Committee agreed to structure the Investment Committee as listed above.

The Investment Committee would be required to meet at least once per year or as often as needed.

Depending upon the reporting timeline of the managing investment company, the Investment Committee would provide updates to the Finance & Budget Committee.

The Investment Committee would assist in preparing policies & procedures that would be reviewed and approved by the Officers and Directors.

The Investment Committee would report to the Finance & Budget Committee, who would report to the Officers and Directors.

HAAR Motion: To authorize up to $17,000 from HAAR Restricted Reserves which may be expended for all necessary mold remediation and repairs of the upstairs conference room to be repaired in 2014. Motion carried. Rationale:

The goal is to begin remediation and repairs to the upstairs conference room in the 1st Quarter of 2014.

The upstairs conference room has been closed off and the employees who have offices in that area have been relocated.

The $17,000 funding would be transferred from the HAAR Restricted Reserve Fund as the Building Maintenance Reserve Fund has been allocated to the repayment of the funds requested earlier this year for the repairs of Conference Rooms A, B and C.

This enables HAAR to utilize its reserve funds for their intended purpose while being able to avoid opening up a line of credit with a financial institution which would save the association from interest and fees associated with a loan.

Multiple quotes have been obtained.

F&B Meeting, December 16, 2013 HAAR Motion: To authorize up to a total of $5,000 to repair the roof drain above the executive office area as well as any other damage found as a result of the leak .

Motion carried.

Rationale: This is an urgent repair item. The roof drain above Kipp’s office is leaking. This drain has been repaired multiple times over the years with the last repair being done in the Spring of 2009. The inspection revealed cracked tar and missing rocks around the drain which is resulting in water standing on the roof. Multiple bids have been obtained. This expense would be posted to HAAR line item 18568 Repairs and Maintenance.

F&B Meeting, December 16, 2013 HAAR Motion: To establish an Investment Committee which will be comprised of: · The Executive Committee · Two members from Finance & Budget · One at large member selected by the HAAR President · The CEO of the association (ex officio/non voting) · Chairperson (Secretary/Treasurer or their designee) Rationale:

In researching how other businesses have structured their investment committees, the Finance & Budget Committee agreed to structure the Investment Committee as listed above.

The Investment Committee would be required to meet at least once per year or as often as needed.

Depending upon the reporting timeline of the managing investment company, the Investment Committee would provide updates to the Finance & Budget Committee.

The Investment Committee would assist in preparing policies & procedures that would be reviewed and approved by the Officers and Directors.

The Investment Committee would report to the Finance & Budget Committee, who would report to the Officers and Directors.

HAAR Motion: To authorize up to $17,000 from HAAR Restricted Reserves which may be expended for all necessary mold remediation and repairs of the upstairs conference room to be repaired in 2014. Motion carried. Rationale:

The goal is to begin remediation and repairs to the upstairs conference room in the 1st Quarter of 2014.

The upstairs conference room has been closed off and the employees who have offices in that area have been relocated.

The $17,000 funding would be transferred from the HAAR Restricted Reserve Fund as the Building Maintenance Reserve Fund has been allocated to the repayment of the funds requested earlier this year for the repairs of Conference Rooms A, B and C.

This enables HAAR to utilize its reserve funds for their intended purpose while being able to avoid opening up a line of credit with a financial institution which would save the association from interest and fees associated with a loan.

Multiple quotes have been obtained.

F&B Meeting, December 16, 2013 HAAR Motion: To authorize up to a total of $5,000 to repair the roof drain above the executive office area as well as any other damage found as a result of the leak .

Motion carried.

Rationale: This is an urgent repair item. The roof drain above Kipp’s office is leaking. This drain has been repaired multiple times over the years with the last repair being done in the Spring of 2009. The inspection revealed cracked tar and missing rocks around the drain which is resulting in water standing on the roof. Multiple bids have been obtained. This expense would be posted to HAAR line item 18568 Repairs and Maintenance.