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 COMMUNITY ASSOCIATION, INC IV. Secretary’s Report V. Treasurer’s Report VI. Community Management Report VII. Business VIII. Adjournment IX. General Discussion
Secretary’s Report Approval of March 26, 2013 Board of Directors Annual Meeting Minutes VERRADO COMMUNITY ASSOCIATION, INC Upon approval, Minutes are published on www.verrado.net. From the homepage, go to: Community Governance/Verrado Community Association, Inc./Board Meetings.
Treasurer’s Report Period ending: December 31, 2013 VERRADO COMMUNITY ASSOCIATION, INC Financial statements are published quarterly on www.verrado.net. From the homepage, go to: Community Governance/Verrado Community Association, Inc./Board Meetings.
Assessments & Fees 2013 2014 Change Verrado Community Association, Inc. 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 *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.
Treasurer’s Report Balance Sheet – Assets – 12/31/13 2013 2012 Change ASSETS Operating accounts $ 870,276 $ 1,341,207 $ (470,931) VERRADO COMMUNITY ASSOCIATION, INC 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) Please note: Unaudited for the period ending December 31, 2013
Treasurer’s Report Balance Sheet – Liabilities & Equity – 12/31/13 2013 2012 Change LIABILITIES AND MEMBERS' EQUITY Accrued expenses $ 354,181 $ 346,518 $ 7,663 VERRADO COMMUNITY ASSOCIATION, INC 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) Please note: Unaudited for the period ending December 31, 2013
Treasurer’s Report Budget Comparison – Revenue – 2013 Actual Budget Variance REVENUE Community association assessment $ 3,942,721 $ 3,994,042 $ (51,321) VERRADO COMMUNITY ASSOCIATION, INC 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 Please note: Unaudited for the period ending December 31, 2013
Treasurer’s Report Budget Comparison – Expenses – 2013 Actual Budget Variance OPERATING EXPENSE Administrative $ 911,044 $ 996,578 $ 85,534 Communications 17,730 21,944 4,214 VERRADO COMMUNITY ASSOCIATION, INC 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) Please note: Unaudited for the period ending December 31, 2013
2013 Annual Management Report Report covers updates and informational items for the Board’s review. VERRADO COMMUNITY ASSOCIATION, INC The complete 2013 Annual Report is published on www.verrado.net. From the homepage, go to: Community Governance/Verrado Community Association, Inc./Board Meetings.
2013 Annual Management Report Community Life Team: Amy Albrecht – Welcomed, Accounts Payable Associate Devin Arbuckle – Welcomed, Community Operations Coordinator VERRADO COMMUNITY ASSOCIATION, INC 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
2013 Annual Management Report Governance: Aaron Macneil Board of Directors Resignation Jeremiah Hood Board of Directors Appointment VERRADO COMMUNITY ASSOCIATION, INC 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
2013 Annual Management Report Community Engagement: Bi-annual Community Garage Sales Monthly Community Pride Meetings VERRADO COMMUNITY ASSOCIATION, INC Participant in Discover Verrado series hosted by the Verrado Assembly
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 VERRADO COMMUNITY ASSOCIATION, INC 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.
2013 Annual Management Report Community Assets: Park Playgrounds – Wood Chip Replenishment Walton Park - Picnic tables replaced | Slide Repaired | Volleyball courts tilled, VERRADO COMMUNITY ASSOCIATION, INC 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
2013 Annual Management Report Design Review: 292 Design Review applications 67 Approvals; 177 Conditional Approvals; 48 Denials 94 Solar Installations in Verrado YTD 2013 Design Review Applications VERRADO COMMUNITY ASSOCIATION, INC 45 40 35 30 25 20 15 10 5 0 Front Yard Rear Yard Pool Satellite Exterior Security Solar Sunscreens Pergola - Landscape Landscape Installation Dish Painting Door Shade Structure
2013 Annual Management Report Community Standards: 560 Compliance Issues – 1 st 254 Yard Maintenance; 2 nd 86 Trash/Recycle Containers; 3 rd 73 Unapproved modifications Unapproved CCI with Recreation VERRADO COMMUNITY ASSOCIATION, INC Archictectural 0% Violations Vehicle/ Holiday Modification 6% Trailer Decorations 13% Parking 5% 4% Trash / Recycling Container 15% Commercial/ Landscape Inoperable Vehicle Other Maintenance Parking 8% 46% 3%
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 VERRADO COMMUNITY ASSOCIATION, INC • 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
General Discussion VERRADO COMMUNITY ASSOCIATION, INC
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