2/21/18 + SMVE 2018 Homeowner Meeting + Agenda 2 n HOA Core Mission/Objectives n Acknowledge and thank volunteers n 2017 Accomplishments n 2017 Operating Expenses and 2018 Budget n Reserve Expenses n Dues 1
2/21/18 + 2017 Board Changes 3 n Kip Longan n Laura Franklin n Kiki Cheney n Guy Scharf + HOA Core Mission/Objectives 4 n To preserve and enhance homeowners’ investments n To protect financial stability n To ensure aesthetics n To maintain amenities n To cultivate community 2
2/21/18 + Thank You Volunteers 5 n HO Directory, Rep with Road n Architecture Committee Commission, Invasive Grasses n Lee Radziemski n Pam Negri n Joe Steiner n Hospitality Committee n Board Member - Pools n Sonja Allen n Kip Longan n Pat Larson n Margie McCoy n Communications n Diane Meuser n Donna McBain Evans n Teresa Scharf (past chair) n Jane Spalding (current chair) n Finance Committee n Joyce Steiner n Steve Graff n Carole Stephan n Toz Spaulding (also Reserve n Susie Struck Specialist) n Insurance n Financial Reconciliations n Andy Sherman n Sam Evans + Thank You Volunteers 6 n Lighting Design Standards n Trash Can Movement n Stevie Willett n Joseph and Grazyna Fercz n Maintenance n Tennis Courts n Rick Levy n Lee Radziemski n Rick van Hasselt n Water Watchers n Photography n Lois Coan n Bob Yanal n Ardith Grady n Roads Committee n Cathy Grant n Dale Larson n Cynthia Schneider n Bob Mix n Toz Spalding n Snakes & Lizards n Ted Forsberg n Water Aerobics n Granny Grant n Frankie Paulus n SNAP Representative n Joe Steiner 3
2/21/18 + 2017 Accomplishments 7 n ½ mile of roads were reconstructed and 2.7 miles were seal coated n 16 buckled sidewalk sections replaced n Pools n North tennis court was resurfaced n Two major landscape improvements n 64 trees trimmed and thinned with lower cost vendors used to stretch our dollars + 2017 Accomplishments continued 8 n Increased number of events hosted by Hospitality Committee to 7 n Increased homeowner volunteerism n Continued push for transparency, info on web, etc. n Architectural design notes created 4
2/21/18 + 2017 Operating Expenses: Actual versus 9 Budget for last 5 years Graph in Thousands of Dollars 300 250 200 150 Actual Budget 100 50 0 2013 2014 2015 2016 2017 2018 n Operational budget has been nearly flat for last several years and this trend will continue for 2018 + 2017 Use of Dues 10 Roads, Security, Clubhouse Other Common 2% Area 2% General / Admin 6% South Rec Area Reserves 7% 42% North Rec Area 11% Trash Collection 11% Common Area Landscaping 19% 5
2/21/18 + Reserve Status Report 11 n A reserve is a fund set aside for repair, restoration or replacement of major assets to offset ongoing deterioration n Reserve spending is typically for large items n Expenses are irregular in timing n Expenses are inevitable n Reserves prevent special assessments + Reserve Funded Status 12 43% as of year end 2017 ê Reserve % Funded 30% 70% Special Assessment Risk High Medium Low We started at approximately 24% in January 2016 and ended 2017 at 43% 6
2/21/18 13 Reserve Study Recommended Balance And Actual or 700000 600000 500000 400000 300000 200000 100000 0 01/01/16 01/01/17 01/01/18 01/01/19 01/01/20 01/01/21 01/01/22 01/01/16 01/01/17 01/01/18 01/01/19 01/01/20 01/01/21 01/01/22 Reserve Study Balance 214039 237747 380375 475553 471017 353936 407076 Actual/Projected 214039 451658 426327 429818 508454 391374 444513 Reserve Study Balance Actual/Projected 14 Reserve Spending Actual / 300000 250000 200000 150000 100000 50000 0 2016 2017 2018 2019 2020 2021 2022 7
2/21/18 + Annual Homeowner 15 Dues Over Time Annual Homeowner Dues $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $- + Why are our DUES Higher than 16 other HOAs in Fairfield n Amenities/Facilities n 3.2 miles of private roads n Trash removal n We’re playing catch up with Reserve Fund n Avoiding special assessments 8
2/21/18 + Dues Strategy 17 Board is committed to n Ensuring sufficient funds to cover operational expenses and adequate contributions to Reserve Fund n Establishing a pattern of regular small dues adjustments sufficient to cover inflation and Reserve contributions n Expect annual increases in the 2-3% range starting in 2020 n Communicating dues amount a year in advance n Continuing the history of no special assessments + Thank You Guy Scharf 18 n Our board president, Guy Scharf, is retiring. Guy was instrumental in so many positive changes during his tenure. He: n Increased transparency n Masterminded the database n Drove significant improvements with process n Handled numerous architectural requests n Spearheaded roads work n And much much more! 9
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