Agenda I. Welcome and Introductions II. Call to order III. - - PowerPoint PPT Presentation

VERRADO COMMUNITY ASSOCIATION, INC

1st QUARTER BOARD OF DIRECTORS MEETING

The Center on Main™ | March 4, 2014 | 6:00 PM

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 VIII. Business IX. Adjournment X. Discussion

Agenda

VERRADO COMMUNITY ASSOCIATION, INC

Secretary’s Report

Approval of October 28, 2013 Board of Directors Meeting Minutes

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

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

VERRADO COMMUNITY ASSOCIATION, INC

Treasurer’s Report

Balance Sheet – Assets – 12/31/13

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

Current Quarter Prior Quarter Change ASSETS Operating accounts $ 870,276 $ 1,192,493 $ (322,217) Reserve accounts 798,414 797,981 433 Total Cash 1,668,690 1,990,474 (321,784) Net accounts receivable 1,115,532 937,014 178,518 Fixed assets 98,553

• 98,553

Other assets 11,982 23,382 (11,400) Total Assets $ 2,894,757 $ 2,950,870 $ (56,113)

VERRADO COMMUNITY ASSOCIATION, INC

Treasurer’s Report

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

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

Current Quarter Prior Quarter Change LIABILITIES AND MEMBERS' EQUITY Accrued expenses $ 354,181 $ 394,452 $ (40,271) Prepaid assessments 145,526 139,308 6,218 Construction deposits 60,000 75,000 (15,000) Due to Assembly 299,511 261,727 37,784 Total Liabilities 859,218 870,487 (11,269) Prior year surplus (deficit) 2,223,837 2,223,837

• Current year surplus (deficit)

(188,298) (143,454) (44,844) Total Equity 2,035,539 2,080,383 (44,844) Total Liabilities & Equity $ 2,894,757 $ 2,950,870 $ (56,113)

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

Treasurer’s Report

Budget Comparison – Expenses – 2013

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

VERRADO COMMUNITY ASSOCIATION, INC 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)

VERRADO COMMUNITY ASSOCIATION, INC

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

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

VERRADO COMMUNITY ASSOCIATION, INC

Community Management Report

4th Quarter Board Meeting Follow-Up:

Who is the contact for the City of Buckeye Neighborhood Watch Program? A program of the Buckeye Police Department, the program encourages participation of citizens in a neighborhood to organize block watch

• programs. Contact Lt. Dave Hubalik at (623) 349-6400 for more

information. What is the plan for landscaping the Western Drainage Channel? What can be done to stop vehicles from entering this area? Landscaping is complete and signage has been installed at entry points to discourage unauthorized vehicular use.

VERRADO COMMUNITY ASSOCIATION, INC

Community Management Report

Landscaping:

• Spring planting scheduled for 1st Quarter
• 2,260+ – shrubs and groundcover
• 200+ - Trees
• Irrigation water use up significantly to start 1st Qtr due to lack of

normal rain and warmer than normal temps.

VERRADO COMMUNITY ASSOCIATION, INC

Community Management Report

Design Review:

• 4th Quarter 2013: 90 Applications |Down 20 from 3rd Quarter
• 4th Quarter 2012: 49 Applications
• Custom Home Reviews – 7 in Process

5 10 15 20 25 30 35 40

2013 2012

4th Quarter 2013/2012

VERRADO COMMUNITY ASSOCIATION, INC

Community Management Report

Community Standards:

• 4th Quarter 2013: 206 Compliance Cases
• 4th Quarter 2012: 166 Compliance Cases
• 114 Demand Requests with CCI’s | Down 55 from 4th Quarter

20 40 60 80 100 120

CCI with Violations Recreation Vehicle/ Trailer Parking Holiday Decorations Landscape Maintenance Other Commercial/ Inoperable Vehicle Parking Trash / Recycling Container Unapproved Archictectural Modification

2013 2012 4th Quarter 2013/2012 Violations

VERRADO COMMUNITY ASSOCIATION, INC

Board Resolution

Supplemental Declaration of Covenants, Conditions and Restrictions for Verrado Phase 3 South, Phases A, B & C The Board acknowledged acceptance of the Supplemental Declaration of Covenants, Conditions and Restrictions for Verrado Phase 3 South, Phases A, B & C

VERRADO COMMUNITY ASSOCIATION, INC

Board Resolution

Verrado Welcome Center & Commercial Areas located between Village Green & Village Commons The Board granted permission to the Buckeye Police Department in conjunction with the property owner, DMB White Tank, LLC, in accordance with Buckeye, Arizona Code of Ordinances, Article 10-3 Public Nuisances and other applicable Town ordinances and state laws, for officers patrolling the area to ask anyone to leave the premises at any time the officers observe abusive and unacceptable behavior.

VERRADO COMMUNITY ASSOCIATION, INC

Board Resolution

DLC Resources, Inc. - CFD Landscape Maintenance - Addendum 2 The Board approved the CFD Landscape Maintenance Addendum 2, with DLC Resources, Inc., in the amount of $1,225.00 (One Thousand Two Hundred Twenty Five Dollars) monthly to perform maintenance in the Western Channel, Parcel 3.206.

VERRADO COMMUNITY ASSOCIATION, INC

Board Resolution

Phoenix Surveillance, LLC - Engagement Agreement The Board approved the Engagement Agreement, including Exhibit A, with Phoenix Surveillance, LLC to provide and install IP security cameras at The Center on Main, as described in accordance with the Agreement, in the amount of $10,400.00 (Ten Thousand Four Hundred Dollars). The Board authorized this purchase to be funded by the Verrado Reserve Fund.

VERRADO COMMUNITY ASSOCIATION, INC

Board Resolution

Collins Commercial Services - Invoice # IN96421 The Board approved Invoice # IN96421 from Collins Commercial Services to replace the water heater at The Center on Main, in accordance with Invoice # IN96421, in the amount of $1,550.23 (One Thousand Five Hundred Fifty Dollars and 23/100). The Board authorized this purchase to be funded by the Verrado Reserve Fund.

VERRADO COMMUNITY ASSOCIATION, INC

Board Resolution

Pool Ninja, LLC - Engagement Agreement The Board approved the Engagement Agreement, including Exhibit A, with Pool Ninja, LLC to provide regular pool maintenance services at The Center

• n Main three (3) times per week during the off season and seven (7) times

per week during the peak season, as described in accordance with the Agreement, in the amount of $100.00 (One Hundred Dollars) per visit.

VERRADO COMMUNITY ASSOCIATION, INC

Board Resolution

Burt-Burnett, Inc. - Engagement Agreement The Board approved the Engagement Agreement, including Exhibit A, with Burt-Burnett,

• Inc. to provide preventative maintenance, repairs and

inspections to The Center on Main heat pump condensing units, as described in accordance with the Agreement, in the amount of $803.78 (Eight Hundred Three Dollars and 78/100) per year.

VERRADO COMMUNITY ASSOCIATION, INC

Upcoming News & Events

Community Garage Sale | March 8 | Individual Homes Exterior Painting Design Review Workshop | April 8 | 6pm – 8pm | The Center On Main 2nd Quarter Board of Directors Meeting | May 13 | 6pm |The Center on Main

VERRADO COMMUNITY ASSOCIATION, INC

Discussion