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VERRADO COMMUNITY ASSOCIATION, INC ANNUAL MEMBERSHIP MEETING The Center on Main | March 4, 2014 | Immediately following VCA 1st Quarter Meeting Agenda I. Welcome and Introductions II. Call to order III. Establish a Quorum VERRADO

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VERRADO COMMUNITY ASSOCIATION, INC

ANNUAL MEMBERSHIP MEETING

The Center on Main ™ | March 4, 2014 | Immediately following VCA 1st Quarter Meeting

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VERRADO COMMUNITY ASSOCIATION, INC

I. Welcome and Introductions II. Call to order III. Establish a Quorum IV. Secretary’s Report V. Treasurer’s Report VI. Community Management Report VII. Business VIII. Adjournment IX. General Discussion

Agenda

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VERRADO COMMUNITY ASSOCIATION, INC

Secretary’s Report

Approval of March 26, 2013 Board of Directors Annual Meeting Minutes

Upon approval, Minutes are published on www.verrado.net. From the homepage, go to: Community Governance/Verrado Community Association, Inc./Board Meetings.

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VERRADO COMMUNITY ASSOCIATION, INC

Period ending: December 31, 2013

Financial statements are published quarterly on www.verrado.net. From the homepage, go to: Community Governance/Verrado Community Association, Inc./Board Meetings.

Treasurer’s Report

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VERRADO COMMUNITY ASSOCIATION, INC

Assessments & Fees

*The separate, mandatory monthly Telecommunity Fee for Cox High-Speed Internet – a special discount rate for Verrado residents – is a pass-through fee facilitated by the Verrado Assembly. Telecommunity Fees are determined by Cox Communications, and in accordance with Verrado’s governing documents, fee increases are passed directly to residential property owners. 2013 2014 Change Verrado Community Association, Inc. Assessment 101.00 104.00 3.00 Verrado Assembly Assessments 17.00 18.00 1.00 Frank Residential Special Service Area 85.00 85.00

Mandatory Telecommunity Fee*

44.27 45.91 1.64

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VERRADO COMMUNITY ASSOCIATION, INC

Treasurer’s Report

Balance Sheet – Assets – 12/31/13

Please note: Unaudited for the period ending December 31, 2013

2013 2012 Change ASSETS Operating accounts $ 870,276 $ 1,341,207 $ (470,931) Reserve accounts 798,414 572,447 225,967 Total Cash 1,668,690 1,913,654 (244,964) Net accounts receivable 1,115,532 1,062,326 53,206 Fixed assets 98,553 - 98,553 Other assets 11,982 14,959 (2,977) Total Assets $ 2,894,757 $ 2,990,939 $ (96,182)

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VERRADO COMMUNITY ASSOCIATION, INC

Treasurer’s Report

Balance Sheet – Liabilities & Equity – 12/31/13

Please note: Unaudited for the period ending December 31, 2013

2013 2012 Change LIABILITIES AND MEMBERS' EQUITY Accrued expenses $ 354,181 $ 346,518 $ 7,663 Prepaid assessments 145,526 162,804 (17,278) Construction deposits 60,000 80,500 (20,500) Due to Assembly 299,511 177,281 122,230 Total Liabilities 859,218 767,103 92,115 Prior year surplus (deficit) 2,223,837 2,107,816 116,021 Current year surplus (deficit) (188,298) 116,020 (304,318) Total Equity 2,035,539 2,223,836 (188,297) Total Liabilities & Equity $ 2,894,757 $ 2,990,939 $ (96,182)

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VERRADO COMMUNITY ASSOCIATION, INC

Treasurer’s Report

Budget Comparison – Revenue – 2013

Please note: Unaudited for the period ending December 31, 2013

Actual Budget Variance REVENUE Community association assessment $ 3,942,721 $ 3,994,042 $ (51,321) Special service area assessment 65,280 62,220 3,060 Legal, collection & compliance fees 81,394 84,180 (2,786) Transfer & disclosure fees 180,208 207,330 (27,122) Interest 3,818 7,759 (3,941) Other revenue 211,283 207,896 3,387 Allowance for doubtful accounts (13,294) (144,401) 131,107 Net Revenue $ 4,471,410 $ 4,419,026 $ 52,384

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VERRADO COMMUNITY ASSOCIATION, INC

Treasurer’s Report

Budget Comparison – Expenses – 2013

Please note: Unaudited for the period ending December 31, 2013

Actual Budget Variance OPERATING EXPENSE Administrative $ 911,044 $ 996,578 $ 85,534 Communications 17,730 21,944 4,214 Community building 21,092 24,050 2,958 Facilities 363,284 138,817 (224,467) Landscaping 1,814,350 1,934,651 120,301 Repairs & maintenance 202,992 206,883 3,891 Special service area 55,775 56,053 278 Utilities 1,141,388 1,073,020 (68,368) Other expenses 6,779 11,410 4,631 Total Operating Expense 4,534,434 4,463,406 (71,028) Surplus (Deficit) Before Reserves & Subsidies (63,024) (44,380) (18,644) Reserve Distribution (125,274) (91,723) (33,551) Current Year Surplus (Deficit) $ (188,298) $ (136,103) $ (52,195)

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VERRADO COMMUNITY ASSOCIATION, INC

2013 Annual Management Report Report covers updates and informational items for the Board’s review.

The complete 2013 Annual Report is published on www.verrado.net. From the homepage, go to: Community Governance/Verrado Community Association, Inc./Board Meetings.

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VERRADO COMMUNITY ASSOCIATION, INC

2013 Annual Management Report

Community Life Team:

Amy Albrecht – Welcomed, Accounts Payable Associate Devin Arbuckle – Welcomed, Community Operations Coordinator Ray Fellows – Welcomed, Landscape & Maintenance Superintendent David Gervais – Welcomed, Community Assistant Jen McSweeney – Welcomed, Events & Programs Coordinator Darrell Mead – Welcomed, Finance & Accounting Manager Chadwick Reed – Promoted to Director of Community Operations Tabatha Rook – Promoted to Community Operations Manager Josh Swartz - Welcomed, Recreation Manager

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VERRADO COMMUNITY ASSOCIATION, INC

2013 Annual Management Report

Governance:

Aaron Macneil Board of Directors Resignation
Jeremiah Hood Board of Directors Appointment
2014 Governance Mailing
Amendment of Artificial Turf Design Guidelines
Supplemental Declaration of Covenants, Conditions & Restrictions for

Verrado Phase 3 South, Phases A, B & C acknowledgment

Supplemental Declaration of Covenants, Conditions & Restrictions for

Verrado Parcels 3.408 and 4.505

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VERRADO COMMUNITY ASSOCIATION, INC

2013 Annual Management Report

Community Engagement:

Bi-annual Community Garage Sales
Monthly Community Pride Meetings
Participant in Discover Verrado series hosted by the Verrado

Assembly

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VERRADO COMMUNITY ASSOCIATION, INC

2013 Annual Management Report

Landscaping:

Park Playgrounds – Wood Chip Replenishment
Walton Park - Picnic tables replaced | Slide Repaired | Volleyball courts tilled,

boundary lines replaced, nets replaced, cooling sprinkler activation switches renovated

Strategic Water Management in partnership with DLC Resources | 25% reduction

in water use

Tree Root Systems – Engaged Artistic Arborist, a certified consulting arborist firm,

to develop a long-term tree care program based on soil, root, and site condition analysis.

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VERRADO COMMUNITY ASSOCIATION, INC

2013 Annual Management Report

Community Assets:

Park Playgrounds – Wood Chip Replenishment
Walton Park - Picnic tables replaced | Slide Repaired | Volleyball courts tilled,

boundary lines replaced, nets replaced, cooling sprinkler activation switches renovated

Contract | Stillwater Landscape | Extended 1 Year at Same Cost
The Center on Main | Assumed operations maintenance

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VERRADO COMMUNITY ASSOCIATION, INC

2013 Annual Management Report

Design Review:

292 Design Review applications 67 Approvals; 177 Conditional Approvals; 48 Denials 94 Solar Installations in Verrado YTD

5 10 15 20 25 30 35 40 45

Front Yard Landscape Rear Yard Landscape Pool Installation Satellite Dish Exterior Painting Security Door Solar Sunscreens Pergola - Shade Structure

2013 Design Review Applications

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VERRADO COMMUNITY ASSOCIATION, INC

2013 Annual Management Report

Community Standards:

560 Compliance Issues – 1st 254 Yard Maintenance; 2nd 86 Trash/Recycle Containers; 3rd 73 Unapproved modifications

0% CCI with Violations 6% Recreation Vehicle/ Trailer Parking 4% Holiday Decorations 5% Landscape Maintenance 46% Other 8% Commercial/ Inoperable Vehicle Parking 3% Trash / Recycling Container 15% Unapproved Archictectural Modification 13%

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VERRADO COMMUNITY ASSOCIATION, INC

2014 Major Initiatives

Strategic water conservation and management
Provide expert care for community facilities, physical assets and

common areas through sustainable practices

Educate, enhance and manage community design review and

standards through positive interactions

Deliver high quality association services and overall operational

excellence as the community continues to develop

Cultivate resident relationships and talents in to dynamic leadership

and robust volunteerism

Lead positive, proactive and educational community affairs
Preserve the Vision and Legacy of the Community
Build an Active and Engaged Community

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VERRADO COMMUNITY ASSOCIATION, INC