VERRADO ASSEMBLY 4th QUARTER BOARD OF TRUSTEES MEETING The Center on Main ™ | November 10, 2014 | Post VCA Quarterly Meeting
Agenda Agenda I. Welcome and Introductions II. Call to order III. Establish a Quorum IV. Secretary’s Report – August 26, 2014 V. Treasurer’s Report – September 30, 2014 VI. Community Engagement Report VERRADO ASSEMBLY VII. Business VIII. Adjournment IX. General Discussion
Secretary’s Report Secretary’s Report Approval of August 26, 2014 Board of Trustees Meeting Minutes VERRADO ASSEMBLY Upon approval, Minutes are published on www.verrado.net. From the homepage, go to: Community Governance/Verrado Assembly/Board Meetings.
Treasurer’s Report Treasurer’s Report Period ending: September 30, 2014 Financial statements are published quarterly on www.verrado.net. VERRADO ASSEMBLY From the homepage, go to: Community Governance/Verrado Assembly/Board Meetings.
Treasurer’ easurer’s Repor s Report Balance Sheet – Assets – 9/30/14 Curr rrent Q t Quarter ter Prior Q Quarte ter Change ASSE SSETS Operating accounts $ 64,544 $ 63,260 $ 1,284 Reserve accounts 157,338 157,259 79 Total C Cash 221, 221,882 882 220,519 1,3 1,363 VERRADO ASSEMBLY Net accounts receivable 75,777 83,053 (7,276) Other assets 12,902 7,059 5,843 Due from Association 367,174 409,143 (41,969) Tota tal A Assets ts $ $ 677,735 $ $ 719, 719,774 774 $ $ (42,0 2,039) Please note: Unaudited for the period ending September 30, 2014
Treasurer’ easurer’s Repor s Report Balance Sheet – Liabilities & Equity – 9/30/14 Curr rrent Q t Quarter ter Prior Q Quarte ter Change LIABIL ILIT ITIE IES A AND ME MEMB MBERS' E EQUITY Accrued expenses $ 178,839 $ 302,293 $ (123,454) Total L Liabil ilit itie ies 178,839 78,839 302,293 (123,4 ,454 54) Prior year surplus (deficit) 334,116 334,116 - VERRADO ASSEMBLY Current year surplus (deficit) 164,780 83,365 81,415 Tota tal E Equity ty 498,896 417,481 81,4 ,415 15 Total L Liabil ilit itie ies & & E Equity $ $ 677,735 677,735 $ $ 719, 719,774 774 $ $ (42,0 2,039) Please note: Unaudited for the period ending September 30, 2014
Treasurer’ easurer’s Repor s Report Budget Comparison – Revenue – 2014 YTD A Actual YTD B Budget Variance 2014 B 014 Budget RE REVENUE Assembly assessment $ 573,935 $ 571,482 $ 2,453 $ 762,588 Telecommunity fee 1,022,741 966,203 56,538 1,307,278 Apartment & commercial fee 61,784 56,556 5,228 75,408 Legal fees 15,253 21,608 (6,355) 29,120 Transfer & disclosure fees 283,881 290,366 (6,485) 401,354 VERRADO ASSEMBLY Interest 274 279 (5) 372 Special events & programs 40,154 26,580 13,574 32,310 Allowance for doubtful accounts (9,029) (6,750) (2,279) (9,000) Ne Net R Revenue $ $ 1,988,9 ,988,993 $ $ 1,926 1,926,324 ,324 $ $ 62,669 ,669 $ 2,599,430 2,5 99,430 Please note: Unaudited for the period ending September 30, 2014
Treasurer’ easurer’s Repor s Report Budget Comparison – Expenses – 2014 YTD A Actual YTD B Budget Variance 2014 B 014 Budget OPER ERATING EX G EXPENSES ES General & administrative $ 496,104 $ 637,527 $ 141,423 $ 844,381 Communications 20,596 17,599 (2,997) 24,479 Community engagement 243,660 262,050 18,390 316,277 Telecommunity 1,022,907 966,203 (56,704) 1,307,278 VERRADO ASSEMBLY Other expenses 40,948 42,026 1,078 56,018 Total O Operatin ing E Expenses 1,824,215 1,824,2 1,925 1,925,405 ,405 101,190 10 1,190 2,548,433 2,5 48,433 Current Y Year Su Surplus (D (Defic icit it) $ $ 164,780 164,7 $ $ 919 919 $ $ 16 163,861 3,861 $ 50,997 50,997 Please note: Unaudited for the period ending September 30, 2014
Community Engagement Community Engagement Report Report Report covers updates and informational items for the Board’s review. The complete Community Engagement Report is published on VERRADO ASSEMBLY www.verrado.net. From the homepage, go to: Community Governance/Verrado Assembly/Board Meetings.
Community Engagement Community Engagement Report Report Signature Event: Independence Signature Event: Independence Day Day VERRADO ASSEMBLY
Community Engagement Community Engagement Report Report Goal: Goal: Develop engaged, vibrant and purposeful communities Accomplishment: Community-wide Programs Accomplishment: Community-wide Programs Discover Verrado: Main & More Teen TREKS Cruise Night on Main & Pinewood Classic VERRADO ASSEMBLY Back to School Bash Holiday Lighting Neighborhood Café
Community Engagement Community Engagement Report Report Goal: Goal: Develop engaged, vibrant and purposeful communities Accomplishment: Verrado Accomplishment: Verrado Leadership Leadership Monthly Meetings Community Connector: WHAM Warm Welcome: 70 pies delivered VERRADO ASSEMBLY New Members New Neighborhood Mapping
Community Engagement Community Engagement Report Report Goal: Goal: Develop engaged, vibrant and purposeful communities Accomplishment: Volunteerism & Philanthropy Accomplishment: Volunteerism & Philanthropy Phoenix Rescue Mission –Water Donation The Giving Tree Program – Facebook Page VERRADO ASSEMBLY Monthly Meetings New Members Revised Logo
Community Engagement Community Engagement Report Report Goal: Goal: Develop engaged, vibrant and purposeful communities Accomplishment: Clubs & Groups Accomplishment: Clubs & Groups New Clubs– Viper Wrestling Club, Verrado Adult Sports New Clubs Club (co-ed), Copperstate Street Rods, DSCC Life Group, Lost Creek Bike Club, Veterans Association of Verrado VERRADO ASSEMBLY Masters Swim Club Masters Swim Club – Escape from Alcatraz Verrado Adult Sports Club Verrado Adult Sports Club - Corn Hole Tournament Verrado Coffee Verrado Coffee Co. Co.
Community Engagement Community Engagement Report Report Goal: Goal: Develop engaged, vibrant and purposeful communities Accomplishment: Recreation & Amenities Accomplishment: Recreation & Amenities TCOM Maintenance & Operations New TCOM Programming – Family Game Night, VERRADO ASSEMBLY Drop-in Coworking, KD’s Studio Vitras – Impact Camp & Summer Swim Team
Community Engagement Community Engagement Report Report Goal: Goal: Develop engaged, vibrant and purposeful communities Accomplishment: Community Affairs Accomplishment: Community Affairs Local First Arizona Mixer Experience Matters / Victory District “Meet the Author” Event VERRADO ASSEMBLY City of Buckeye Events Coordination Council
Community Engagement Community Engagement Report Report Goal: Goal: Maintain/develop cohesive organization(s) and team Accomplishment: Administration & Management Accomplishment: Administration & Management Lifeguard Policy 2015 Budgeting VERRADO ASSEMBLY Adjacent Land Usage Agreement Conferences, Certifications & Trainings Jen McSweeney’s Departure Year-End Evaluations
Business Business 2015 Budget 2015 Budget The proposed budget calls for a decrease of $5.00, of which shifts to the VCA from the Verrado Assembly for the financial responsibilities under the Community Charter. 2015 Proposed Monthly Assessment and 2015 Proposed Monthly Assessment and Fees: Fees: VERRADO ASSEMBLY Verrado Assembly $13.00 ( $5.00)* Mandatory Telecommunity Fee $51.65** *The combined net change for the VCA & VA is an increase of $3.00 ** The mandatory monthly Telecommunity Fee for residential property owners in Verrado is a pass-through fee facilitated by the Assembly currently set at $51.65 per month for Cox High Speed Internet capability. Effective June 30, 2015, this Telecommunity Fee will be eliminated. Information about planned high-speed service upgrades and future rates will be available soon from Cox Communications .
Business Business 2015 Proposed Budget VERRADO ASSEMBLY
Business Business Approve 2015 Assessment & Fee Schedule Approve 2015 Assessment & Fee Schedule The 2015 VCA & VA Assessment & Fee Schedule has been provided to the Board of Trustees for Review and Approval. Proposed Changes: Proposed Changes: • Capitalization of Assessment – 1/6 of the Annual Assessment | $224.00 • Rental Setup Fee | $25.00 ( $75.00) • Upfront Assessment Collection at Closing | 2 Months VERRADO ASSEMBLY • Exterior Architectural Maintenance; Missing/Damaged Elements | $150.00 • The Center on Main Board Room Rental | $25.00/hour ( $5.00) • The Center on Main Multipurpose Room Rental | $50.00/hour ( $10.00) • Minors’ Fitness Room Eligibility Card or Replacement Card | $15.00
Business Business Cox Communications Agreement Cox Communications Agreement VERRADO ASSEMBLY
Upcoming News & Events November 6 – VHES Cornerstone Ceremony November 11 – Veteran’s Day Celebration November 15 – Discover Verrado: Live & Learn Youth Triathlon Art of Movement November 27 – Turkey Trot VERRADO ASSEMBLY Hometown Holidays – Tree Lighting Celebration – December 6 Joy of Giving Celebration – December 7 We Heart Christmas Home Tour – Dec 14
General Discussion General Discussion VERRADO ASSEMBLY
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