Riverhill Homeowners Association 2015 Annual Meeting 2015 Board - - PowerPoint PPT Presentation

Riverhill Homeowners Association

2015 Annual Meeting

2015 Board Members

Introductions

President: Jeromy Hicks Vice President: Edd Kruk Secretary/ Treasurer: Catherine Michaels Board Members Chris Ladner: Board Member Richard Hicks: Board Member

Meeting Topics

Budget Status for 2015 2015 Projects Completed 2016 Proposed Budget 2016 Goals Committee Reports/ Agenda Items Member Input/Discussion

Budget Status

Dues Break Down

89 owners x 345.00 Annual Payment * 7 Owners x 172.50 Annual Payment 15 Owners x 86.00 Annual Payment

Total 2014 Annual Budget= $33,015.00 Total 2015 Annual Budget= $33,015.00

Budget Status

Line Item Budgeted Remained Board Fees $3,500.00 $2,800.00 Bank Charges $5.00 $5.00 Carry Over $2,000.00 $2,000.00 Insurance $3,500.00 $849.00 License $350.00 $0.50 Property Maintenance $2,500.00 $1,625.00 Water System Repairs $4,000.00

• $5,471.36

Well Management $4,810.00 $1,310.63 Office Supplies $300.00 $13.49 Taxes (County and State) $1,000.00

• $73.48

Tree Management $1,000.00 $1,000.00 Utilities Lighting $3,200.00 $363.49 Utilities Pumps $3,200.00 $215.00 Utilites Gazebo $350.00

• $61.93

Legal Fees $300.00 $300.00 Filing Fees $250.00 $250.00 Reimbursment (Mileage, phone) $200.00 $200.00 Web Page Management $250.00 $36.22 Annual Picnic $250.00 $17.00 Accounting $200.00 $100.00 Gazebo Property $1,700.00

• $2,843.64

Door Prize $50.00 $50.00 Audit Review $100.00 $0.00 Garbage/Gazeb

Budget Status

Account Status (November 5th 2015) Checking Account

$6,535.73

Savings Account

$34,441.33

• Approx. $4788.00 Still Due

Projects Completed

Gazebo Fence Project Gazebo Parking Lot Well Electrical Upgrades Water system repairs Water Meter Research Gazebo Garbage/Porta-potty contracts Riverhill Sign Area

Information Posted

Riverhill Home Owners Association Web page WWW.riverhillhoa.com

• Covenants and By-Law Information
• CCR Reports
• Well and Water System Information
• Board Meeting Times and Locations
• What’s New Information/E-News Letter
• E-mail Access to the Board Members
• Billing Information
• Complaint /Action Needed Forms

2016 Goals

Lights at Gazebo Gazebo Roof Repair Annual Home Owners Function Well Upgrades (Pressure Tanks) Roadway Maintenance Enforce Covenants Water Meter Install

Water Meter Information

State mandated by January of 2017 Must be compliant with DOH standards Required to have ability to monitor No plans to monitor/rate charge at this time Total install cost is $60,000 Current water system technician can install

What this means to us….

Water meters cost money! Recommendation to charge $600 per home

Meters installed by road Installed at roadway Payments over 24 months Homeowners will pay association

What happens if we don’t do this?

State will impose fines, levy the system, restrict permits, suspend permits, install meters, and charge the association. If we do not pay the system will be turned over to another water purveyor to manage.

Can the association pay for this?

We are the association. If we pay for this, the money will have to be recouped through increased association fees, special fees, or loan payments. This ends up costing the association (us) money in interest.

Are other associations doing this?

Yes!

Twanoha Falls Trails End Maggie Lake Collins Lake Tahuya

All are installing and charging the homeowner.

Our Recommendation

Install meters by road Set-up accounts with all water share holders If a share is not used at this time, no need to install meter. There will be a connection fee at a later time. This will be decided at a later date. Homeowners will have 24 months to pay. Must be paid by quarter.

Action needed

We need a motion to approve the water meter install project and assessment of $600 per homeowner. We need a motion to approve obtaining a loan for $60,000 for the project to be paid back ASAP.

2016 Proposed Budget

Dues Break Down

89 owners x 345.00 Annual Payment 7 Owners x 172.50 Annual Payment 15 Owners x 86.00 Annual Payment

Total 2016 Annual Budget= $33,199.00

2011 Proposed Budget

Line Item 2016 FY Board Fees $3,500.00 Bank Charges $5.00 Carry Over $2,259.00 Insurance $3,500.00 License $350.00 Property Maintenance $2,250.00 Water System Repairs $4,000.00 Well Management $4,800.00 Office Supplies $325.00 Taxes (County and State) $1,100.00 Tree Management $750.00 Utilities Lighting $3,300.00 Utilities Pumps $3,300.00 Utilites Gazebo $450.00 Legal Fees $300.00 Filing Fees $200.00 Reimbursment (Mileage, phone) $150.00 Web Page Management $250.00 Annual Picnic $250.00 Accounting $150.00 Gazebo Property $1,700.00 Door Prize $50.00 Audit Review $100.00 Garbage/Gazeb $160.00 Total $33,199.00

Community Input/Discussion

New Business

Sewer Project Housing Development Water System Upgrades Hulk Vehicles Further Input From Membership

Elections Door Prize Drawing

Thank You