VERRADO COMMUNITY ASSOCIATION, INC 1st QUARTER BOARD OF DIRECTORS MEETING The Center on Main™ | March 4, 2014 | 6:00 PM
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 VIII. Business IX. Adjournment X. Discussion
Secretary’s Report Approval of October 28, 2013 Board of Directors 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.
Treasurer’s Report Balance Sheet – Assets – 12/31/13 Current Quarter Prior Quarter Change ASSETS VERRADO COMMUNITY ASSOCIATION, INC 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) Please note: Unaudited for the period ending December 31, 2013
Treasurer’s Report Balance Sheet – Liabilities & Equity – 12/31/13 Current Quarter Prior Quarter Change LIABILITIES AND MEMBERS' EQUITY Accrued expenses $ 354,181 $ 394,452 $ (40,271) VERRADO COMMUNITY ASSOCIATION, INC 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) 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 Community building 21,092 24,050 2,958 VERRADO COMMUNITY ASSOCIATION, INC 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
Community Management Report Report covers updates and informational items for the Board’s review. VERRADO COMMUNITY ASSOCIATION, INC 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.
Community Management Report 4 th 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 VERRADO COMMUNITY ASSOCIATION, INC 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.
Community Management Report Landscaping: Spring planting scheduled for 1 st Quarter 2,260+ – shrubs and groundcover 200+ - Trees VERRADO COMMUNITY ASSOCIATION, INC Irrigation water use up significantly to start 1 st Qtr due to lack of normal rain and warmer than normal temps.
Community Management Report Design Review: 4 th Quarter 2013: 90 Applications |Down 20 from 3 rd Quarter 4 th Quarter 2012: 49 Applications Custom Home Reviews – 7 in Process VERRADO COMMUNITY ASSOCIATION, INC 4th Quarter 2013/2012 40 35 30 2013 25 20 2012 15 10 5 0
Community Management Report Community Standards: 4 th Quarter 2013: 206 Compliance Cases 4 th Quarter 2012: 166 Compliance Cases 114 Demand Requests with CCI’s | Down 55 from 4 th Quarter VERRADO COMMUNITY ASSOCIATION, INC 4th Quarter 2013/2012 Violations 120 100 80 2013 60 2012 40 20 0 CCI with Recreation Holiday Landscape Other Commercial/ Trash / Unapproved Violations Vehicle/ Decorations Maintenance Inoperable Recycling Archictectural Trailer Vehicle Container Modification Parking Parking
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, VERRADO COMMUNITY ASSOCIATION, INC B & C
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 VERRADO COMMUNITY ASSOCIATION, INC 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.
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 VERRADO COMMUNITY ASSOCIATION, INC Western Channel, Parcel 3.206.
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 VERRADO COMMUNITY ASSOCIATION, INC amount of $10,400.00 (Ten Thousand Four Hundred Dollars). The Board authorized this purchase to be funded by the Verrado Reserve Fund.
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 VERRADO COMMUNITY ASSOCIATION, INC Hundred Fifty Dollars and 23/100). The Board authorized this purchase to be funded by the Verrado Reserve Fund.
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 on Main three (3) times per week during the off season and seven (7) times VERRADO COMMUNITY ASSOCIATION, INC per week during the peak season, as described in accordance with the Agreement, in the amount of $100.00 (One Hundred Dollars) per visit.
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 VERRADO COMMUNITY ASSOCIATION, INC described in accordance with the Agreement, in the amount of $803.78 (Eight Hundred Three Dollars and 78/100) per year.
Upcoming News & Events Community Garage Sale | March 8 | Individual Homes Exterior Painting Design Review Workshop | April 8 | 6pm – 8pm | The Center On Main VERRADO COMMUNITY ASSOCIATION, INC 2 nd Quarter Board of Directors Meeting | May 13 | 6pm |The Center on Main
Discussion VERRADO COMMUNITY ASSOCIATION, INC
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