The Pines of Avon Property Owners’ Association, Inc. Annual Meeting

The Pines of AvonProperty Owners’ Association, Inc.

Annual Meeting

Welcome

Agenda Introductions The Year in Review 2007 Financial Results 2008 Financial Budget Election of Directors Questions & Answers

Introductions

Pines of Avon Board Members Chad Rogers, President Kirk Wakefield, Vice President David Soline, Treasurer Ryan Troxel, Secretary Kathy Lisby, Member at Large Terry Bond, Member at Large Nancy Glass, Member at Large

Sentry Management, Inc. (317)251-9393 or aplesner@sentrymgt.com

The Year in Review

Improvements Rip-rap rock on 2 more ponds New electrical system at entrance pond New trees around large pond New mowing and landscaping company Additional pond treatments

Fewer Covenant Violations Great Association Fee Collection Rates Mailbox Review Fun Family Picnic and Successful Neighborhood

Sale Positive Financial Performance

2007 Financial Results

See Handout for 2007 Financial Results Board reviews financials monthly to ensure

smart spending Volunteers helped save $ Revenue:

Nearly full collection of annual fees Expenses:

$2,000 or 7.5% under budget Reserve Fund:

Paid for new trees and rip-rap Over $1,000 in interest earned Balance of approximately $16,000 at end of year

2008 Financial Budget

Budgeting process Annual Fees remaining the same Slight Increases: Mowing, Animal control,

Insurance, and Trees Plan to build reserve by $2,000 Special thanks to Charlie at PIP Printing for

donating printing services Help keep legal fees down by paying fees

on time and complying with covenants Volunteer, volunteer, volunteer!!!

2008 2007 2007PROPOSED ACTUAL

OPERATING ACCOUNT Annual Year End ApprovedBudget Results Budget

INCOMEASSESSMENT INCOME

45000 Assessments 36,480 36,284 36,480TOTAL ASSESSMENT INCOME $36,480 $36,284 $36,480

OTHER INCOME56100 Late Fee Income 300 533 30056990 Recovered legal fees 0 443 058800 Interest on Operating Accounts 0 13 057000 Miscellaneous Income 0 359 0

TOTAL OTHER INCOME $300 $1,348 $300

TOTAL INCOME $36,780 $37,632 $36,780

EXPENSESCOMMON UTILITIES

62200 Common Electricity 925 831 72362300 Common Water 585 625 735

TOTAL COMMON UTILITIES $1,510 $1,456 $1,458

LAWN CARE & MAINTENANCE64110 Mowing 4,760 3,910 4,76064120 Fertilization - Weed Control 1,537 1,537 1,45064160 Flowers & Plants 300 86 30064180 Tree & Shrub Pruning 840 840 84064190 Tree & Shrub Fertilizing 313 170 29564400 Mulch 500 309 70064500 Bed Weeding 560 420 56064510 Leaf Removal 350 350 350

TOTAL LAWN CARE & MAINTENANCE $9,160 $7,622 $9,255

MAINTENANCE - GROUNDS66500 Miscellaneous Maintenance 1,000 915 50066600 Animal Control 500 0 1,000

TOTAL MAINTENANCE - GROUNDS $1,500 $915 $1,500

IRRIGATION SYSTEM66992 Irrigation 165 295 50066998 Irrigation Repair 120 0 0

TOTAL IRRIGATION SYSTEM $285 $295 $500

MAINTENANCE - POND67110 Algae Control 2,760 0 067140 Pond Maintenance 250 3,185 2,90067160 Fountain Maintenance 350 350 350

TOTAL POND MAINTENANCE $3,360 $3,535 $3,250

2008 2007 2007PROPOSED ACTUAL

OPERATING ACCOUNT Annual Year End ApprovedBudget Results Budget

GENERAL & ADMINISTRATIVE70300 Postage 200 114 16571200 Social Expense 325 355 30072200 Printing 550 408 47573010 Property Taxes 485 187 60773500 Insurance Premiums 920 875 94074000 Miscellaneous Admin. Exp. 475 386 350

TOTAL G & A EXPENSE $2,955 $2,325 $2,837

PROFESSIONAL SERVICES75100 Management 8,100 8,100 8,10075200 Accounting 250 340 35075300 Legal 1,400 1,157 500

TOTAL PROFESSIONAL SERVICES $9,750 $9,597 $8,950

TOTAL EXPENSES $28,520 $25,745 $27,750

OPERATING SURPLUS (DEFICIT) $8,260 $11,887 $9,030

TRANSFER TO RESERVES $7,000 $5,000 $5,000

NET OPERATING SURPLUS (DEFICIT) $1,260 $6,887 $4,030

RESERVE ACTIVITY

INCOMERESERVE RECEIPTS

93010 Transfers from Operating Acct. 7,000 5,000 5,00093300 Interest income on Reserve Accounts 1,000 1,025 600

TOTAL RESERVE RECEIPTS $8,000 $6,025 $5,600

EXPENSESRESERVE DISBURSEMENTS

95200 Tree Removal Replacement 3,000 2,937 2,00095500 Rip Rap Installation 3,000 2,940 3,000

TOTAL RESERVE DISBURSEMENTS $6,000 $5,877 $5,000

NET RESERVE ACTIVITY $2,000 $148 $600

COMBINED CASH FLOW $3,260 $7,035 $4,630

CASH PROJECTIONS: Operating Reserve TotalCash on Hand, Jan. 1, 2007 $1,974 $15,366 $17,340Add: 2007 Surplus $6,887 $148 $7,035Projected Cash on Hand, Dec. 31, 2007 $8,861 $15,514 $24,3752008 Surplus $1,260 $2,000 $3,260

Election of Directors

How can I get involved?

Landscaping Weeding Litter pickup Committees

Social Planning

Give suggestions and feedback Contact chad@pinesofavon.org if you are

interested

Website – www.pinesofavon.org

On the website you can: Retrieve Documents

Newsletters Covenants Architectural Change Forms Maps

Submit feedback and suggestions

Questions & Answers

Thanks for coming!!!From The Pines of Avon Board