Verrado Assembly 1 st Quarter Board of Trustees Meeting The Center on Main™ March 27, 2018 Presentation Title | Presentation Title 2 Date 6:00 PM
Agenda I. Welcome and Introductions II. Call to order III. Establish a Quorum IV. Secretary’s Report V. Treasurer’s Report VI. Community Engagement Report VIII. Business IX. Adjournment Presentation Title | Presentation Title 2 Date
Secretary’s Report Review of November 14, 2017 Board of Trustees Meeting Minutes Upon approval, Minutes are published on www.verrado.com From the homepage, go to: My Community/Community Governance Presentation Title | Presentation Title 2 Date
Treasurer’s Report Period Ending December 31, 2017 Financial statements are published quarterly on www.verrado.com From the homepage, go to: My Community/Community Governance Presentation Title | Presentation Title 2 Date
Treasurer’s Report Balance Sheet – Assets – 12/31/2017 Curre rrent Q t Quarte arter Prior Q r Quarte arter Chan ange ASSE SSETS Operating accounts $ 24,855 $ 193,414 $ (168,559) Reserve accounts 116,025 115,972 53 Total C Cash 140,880 880 309,386 (168,5 ,506 06) Net accounts receivable 137,659 15,921 121,738 Other assets 34,975 36,390 (1,415) Due from Association 224,030 373,774 (149,744) Total tal A Assets ts $ 537,544 $ 735,471 73 $ (197,9 ,927) 27) Please note: Unaudited for the period ending December 31, 2017 Presentation Title | Presentation Title 2 Date
Treasurer’s Report Balance Sheet – Liabilities & Equity – 12/31/2017 Current Q t Quar arte ter Pri rior Q Quarte arter Change LIABIL ILIT ITIE IES A S AND M MEMBERS' S' E EQUITY UITY Accrued expenses $ 20,251 $ 25,673 $ (5,422) Prepaid assessments - 37,973 (37,973) Total Lia l Liabilit ilities 20,251 51 63,646 (43,395) Prior year surplus (deficit) 383,482 583,482 (200,000) Current year surplus (deficit) 164,917 88,343 76,574 (31,106) (31,106) Current year reserve contribution/(distribution) Total tal E Equity ty 517,293 671,8 1,825 25 (154,532) Total tal L Liab abiliti ties & E & Equity ty $ 537,544 $ 735,471 73 $ (197,927) 27) Please note: Unaudited for the period ending December 31, 2017 Presentation Title | Presentation Title 2 Date
Treasurer’s Report Budget Comparison – Revenue – 2017 Actu tual al Budget Vari rian ance REV REVENUE Assembly assessment $ 642,312 $ 624,322 $ 17,990 Legal fees 34,422 34,875 (453) Transfer fees 750,127 662,754 87,373 Interest 242 264 (22) Special events & programs 55,851 66,260 (10,409) Allowance for doubtful accounts 44,644 (8,415) 53,059 Ne Net Re Revenue nue $ 1,52 527,59 598 $ $ 1,380,06 1,3 0,060 $ 147,538 Please note: Unaudited for the period ending December 31, 2017 Presentation Title | Presentation Title 2 Date
Treasurer’s Report Budget Comparison – Expenses – 2017 Actu tual al Budget Vari rian ance OPERAT ERATING EX G EXPENS PENSES ES General & administrative $ 912,543 $ 910,050 $ (2,493) Communications 30,713 49,536 18,823 Community engagement 293,772 350,715 56,943 Other expenses 125,603 92,496 (33,107) Total O l Operating ing E Expense nses 1,362,631 1,402,797 40,166 Curren ent Y Year S Surplus ( (Def eficit) $ 164,967 $ (22,73 737) 7) $ 187,70 18 7,704 $ (31, 1,10 106) Note te: N Net R t Reserv rve Co Contri ributi tion/(Distri ributi tion) Please note: Unaudited for the period ending December 31, 2017 Presentation Title | Presentation Title 2 Date
Community Engagement Report Report covers updates and informational items for the Board’s review. The complete Community Engagement Report is published on www.verrado.com From the homepage, go to: My Community/Community Governance Presentation Title | Presentation Title 2 Date
Community Engagement Report Signature Events: Verrado’s Hometown Holidays Presentation Title | Presentation Title 2 Date
Community Engagement Report Community Wide Programs Presentation Title | Presentation Title 2 Date
Community Engagement Report Verrado Leadership Monthly Meetings Class XI 46 new members Warm Welcome 119 pies Presentation Title | Presentation Title 2 Date
Community Engagement Report Volunteerism & Philanthropy The Giving Tree Monthly Meetings Brighter Day Luncheon Council Member Outreach Events Volunteerism Year-round Support Presentation Title | Presentation Title 2 Date
Community Engagement Report Recreation & Amenities The Center on Main™ Youth Fitness Orientation – 7 Youth Contracts Renewed Programmers Presentation Title | Presentation Title 2 Date
Community Engagement Report Amenity Reservations Parks – 14 non-weddings and 1 wedding (across 7 parks) The Center on Main – 57 Board Room (non-weddings, includes clubs) 468 Multipurpose Room (non-weddings, includes fitness/clubs) Heritage Swim Park – Heritage Swim Park Ramada – 4 Giving Tree Pavilion – 7 (non-wedding) Verrado Instant Party Trailer – 36 Presentation Title | Presentation Title 2 Date
Governance Unanimous W Unanimous Writt itten n Consent nsent in Lieu of in Lieu of a Meeting of the Boar a Meeting of the Board of T d of Trus ustees ees Resignation and Founder Appointment of VA Board of Trustees: Resignations: Todd Hornback, President Suzanne Walden-Wells, Vice President Darrell Mead, Secretary & Treasurer Founder Appointments: Daniel Kelly, President Janice Keller, Vice President Georgia Moraga, Secretary & Treasurer Unanimous W Unanimous Writt itten n Consent nsent in Lieu of in Lieu of a Meeting of the Boar a Meeting of the Board of T d of Trus ustees ees Establishment of the VA Officers’ authority to execute and deliver agreements, documents, contracts and other instruments of every kind and nature on behalf of the Verrado Assembly. Presentation Title | Presentation Title 2 Date
2017 Capital Pr 2017 Capital Projects ojects Funded Funded thr through the V ugh the VA R Reserv serve Fund e Fund Walt lton P on Park rk Seesaw & Thunder Cloud Replacement | $12,677.40 Walton Park Wood Chip Replenishment | $9,643.05 Tree Benches Replaced | $9,565 Village Gr illage Green een Fountain Retrofit | Deferred to 1 st Q 2018 Total 2017 VA Capital Projects Funded by the VA Reserve Fund = $31,885.45 Presentation Title | Presentation Title 2 Date
Upcoming Events & Programs April 6 – Movie Night - "Jumanji" April 7 – White Tank Customs Club Car Show April 14 – Vitras Craft Fair April 14 & 15- Feed My Starving Children Mobile Pack July 4 – Spirt of Independence Celebration Presentation Title | Presentation Title 2 Date
Business Business 2018 Verrado Assessment & Fee Schedule – Update
Business Business 2018 2018 Assessment & Assessment & Fee Schedule - Fee Schedule - Update pdate The 2018 Verrado Assessment & Fee Schedule has been updated to reflect the following fees: Foreclosure Monitoring Fee | $75.00/Foreclosure Lender Documentation Fee | $100 David Weekley Mountainside Special Service Area | $80
Adjournment Up Next: VCA 1 st Quarter Board of Directors Meeting Presentation Title | Presentation Title 2 Date
THANK YOU Presentation Title | Presentation Title 2 Date
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