Verrado Community Association, Inc. 1 st Quarter Board of Directors Meeting The Center on Main™ Presentation Title | Presentation Title 2 Date March 27, 2018 Immediately following 1 st Quarter VA Meeting
Agenda I. Welcome and Introductions II. Call to order III. Establish a Quorum IV. Secretary’s Report V. Treasurer’s Report VI. Community Management Report VIII. Business IX. Adjournment Presentation Title | Presentation Title 2 Date
Secretary’s Report Review of November 14, 2017 Board of Directors Meeting Minutes Upon approval, Minutes are published on 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 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 Cu Curre rrent Qu t Quarte ter Pri rior Qu Quarte ter Change ASSE SSETS Operating accounts $ 223,318 $ 724,271 $ (500,953) Reserve accounts 555,913 555,615 298 Tot Total C l Cash 779, 9,231 1,2 1,279,88 886 (500, (5 00,655) Net accounts receivable 1,022,001 748,809 273,192 Fixed assets 167,250 180,599 (13,349) Other assets - 578 (578) Tota tal As Assets ts $ 1,968,482 82 $ $ 2, 2,20 209, 9,872 $ $ ( (241,3 ,390) 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 nt Q Quarter Prior Q Quarter Cha hang nge LIAB ABIL ILIT ITIE IES AND AND M MEMBERS' E EQUITY Accrued expenses $ 248,104 $ 433,609 $ (185,505) Prepaid assessments 396,502 447,307 (50,805) Construction deposits 151,313 101,313 50,000 Capital Leases 88,964 94,615 (5,651) Due to Assembly/Victory 251,192 424,511 (173,319) To Total L l Liabilit ilitie ies 1,136,075 75 1, 1,501, 1,355 (365,2 ,280) Prior year surplus (deficit) 623,919 423,919 200,000 Current year surplus (deficit) 321,866 284,598 37,268 (113,378) (113,378) Current year reserve contribution/(dist) - Tota tal E Equity ty 83 832,407 708,517 12 123,89 890 To Total L l Liabilit ilitie ies & & E Equity $ $ 1,968,482 $ $ 2,209,872 $ $ (241,3 ,390) 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 Varian ance RE REVENUE Community association assessment $ 6,207,343 $ 5,999,970 $ 207,373 Special service area assessment 77,520 77,520 - Legal, collection & compliance fees 97,202 81,360 15,842 Transfer fees 107,065 98,600 8,465 Interest 5,496 1,596 3,900 Other revenue 233,719 174,450 59,269 Allowance for doubtful accounts (94,954) (97,613) 2,659 Ne Net R Revenue nue $ 6,633, 33,39 391 $ $ 6 6,335, 335,883 $ $ 297,508 Please note: Unaudited for the period ending December 31, 2017 Presentation Title | Presentation Title 2 Date
Treasurer’s Report Budget Comparison – Expenses – 2017 Ac Actual Budg dget Variance OPERAT ERATING EXPENS G EXPENSE General & Administrative $ 1,176,908 $ 1,066,881 $ (110,027) Communications 23,812 47,397 23,585 Community engagement 29,376 29,800 424 Facilities 511,275 486,616 (24,659) Landscaping 2,445,667 2,676,930 231,263 Repairs & maintenance 266,648 266,461 (187) Special service area 65,122 65,699 577 Utilities 1,792,667 1,587,173 (205,494) Other expenses 50 650 600 Total Op l Operating ing Ex Expense nse 6,311,52 525 6,227 227,6 ,607 07 (8 (83,918) Current nt Y Year S Surplus (D lus (Defic icit it) $ $ 321,866 $ $ 108,276 $ $ 213,590 (113 113,3 ,378 78) No Note: Net : Net Res Reserve C e Contribution/(Distribution) Please note: Unaudited for the period ending December 31, 2017 Presentation Title | Presentation Title 2 Date
Community Management Report Report covers updates and informational items for the Board’s review. The complete Community Management Report is available on verrado.com From the homepage, go to: My Community/Community Governance Presentation Title | Presentation Title 2 Date
Community Management Report Go Governanc rnance VCA Owner Dir A Owner Direct ctor Election or Election Results sults Voting Results: 23.68% (831 Voters) of Owners Cast Ballots Online Online + In-person Vote Tally by Candidate: Wesley Holm | 46 Votes Mr. Da Mr . David K vid Katz tz Cecilia Sheridan | 176 Votes + 3 was elect s elected d to serv serve e a a David Katz | 326 Votes + 1 tw two (2) y o (2) year t ar term on rm on the the Mark Carvis | 191 Votes + 1 VCA Boar A Board of Dir d of Direct ctors, ors, Timothy Crump (Write-In Candidate) | 1 Vote effectiv effective No e November 15, mber 15, 2017 2017. . Carl Goin | 42 Votes + 1 Jeffrey Lighthipe (Write-In Candidate | 1 Vote Justin Powless (Write-In Candidate) | 1 Vote Presentation Title | Presentation Title 2 Date
Community Management Report Go Governanc rnance, c , continued. ntinued. Unanimous Unanimous Writt itten C n Consent in nsent in Lieu of a Meeting of the Boar Lieu of a Meeting of the Board of Dir d of Direct ctors ors Resignation and Founder Appointment of VCA Board of Directors: Resignations: Todd Hornback, President Suzanne Walden-Wells, Vice President Darrell Mead, Secretary & Treasurer Founder Appointments: Georgia Moraga, President Daniel Kelly, Vice President Janice Keller, Secretary & Treasurer Presentation Title | Presentation Title 2 Date
Community Management Report Go Governanc rnance, c , continued. ntinued. Maint Maintenanc nance A e Agreement eement | Verrado Community Association, Inc. (“VCA”) and Verrado Assembly (“VA”) The VCA shall maintain and assess Members for the costs related to maintaining VA property. Unanimous Unanimous Writt itten C n Consent in nsent in Lieu of a Meeting of the Boar Lieu of a Meeting of the Board of Dir d of Direct ctors ors Establishment of the VCA Officers’ authority to execute and deliver agreements, documents, contracts and other instruments of every kind and nature on behalf of the Verrado Community Association. 2018 2018 Annual Annual Go Governanc rnance P Pack ackage Announc age Announcement ement | November 22 | Open Rate = 45.3% Presentation Title | Presentation Title 2 Date
Community Management Report Design R Design Revie view & C & Community S mmunity Standar tandards s 118 – Design Review Applications 18 Custom Homes Opened 314 Violations 137 Escalated | 83 On Hold | 126 Closed Presentation Title | Presentation Title 2 Date
Community Management Report Community C mmunity Conc ncern F ern Forms rms Total Submitt tal Submitted | d | 222 222 Resolv solved | 209 ed | 209 Irrigation | 84 Landscape Maintenance | 46 Other | 31 Compliance | 25 Parking | 16 General Maintenance | 13 Construction | 6 Pests | 1 Presentation Title | Presentation Title 2 Date
Community Management Report Landscaping Landscaping Tree Care | 988 VCA Pruned + 534 CFD Pruned Fall Plant Replacements | 5,856 shrubs/groundcovers + 1,466 trees Designated turf areas overseeded with Winter Rye Water Management in Partnership with DLC Resources, Inc. Presentation Title | Presentation Title 2 Date
Community Management Report Amenities Amenities The C e Cent nter er on Main on Main • Pump Room Shade Cover Installed • Storage Room Door Replaced • Installed new basketball backboards (vandalism) Heritage S Heritage Swim im Park ark • Replaced Shade Structure Awning • 20 Lounge Chairs Re-slung • 4 Umbrellas Repaired Presentation Title | Presentation Title 2 Date
Community Management Report 2017 Capital 2017 Capital Pr Projects ojects Funded Funded by the the Verr rrado R ado Reserv serve Fund e Fund The Center on Main™: Pools Sand Filter Replacement | $10,557.52 Fitness Room Mirrors Replacement | $1,471.83 TV Replacements (4) | Fitness Room | $3,056 Security Camera DVR Replacement | $2,920 Pool Deck Painting | $11,942 Exterior Wood Painting | $1,758 AC Unit Replaced | $7,935.93 Pump Room Shade Cover Installation + Storage Room Door Replacement | $41,500 ADA Pool Gate Arm Replacement | $5,158.19 Emergency Stairwell Door Replacement | $2,080 Basketball Court backboard replacement (vandalism) | $521.75 Presentation Title | Presentation Title 2 Date
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