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Wentworth Residents’ Association Annual General Meeting March 30, 2011. Agenda. Opening Remarks Review Highlights from 2009 AGM 2010 Operating Budget Planning Nominations & Elections for Directors Open Floor for General Membership Discussion. Board of Directors. - PowerPoint PPT Presentation
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Wentworth Residents’ Association
Annual General Meeting
March 30, 2011
www.mywentworth.com [email protected]
Agenda
• Opening Remarks
• Review Highlights from 2009 AGM
• 2010
– Operating Budget
– Planning
– Nominations & Elections for Directors
– Open Floor for General Membership Discussion
www.mywentworth.com [email protected]
Board of Directors
• Directors*: Greg Hillaby
James Istvanffy
Greg Leusink
Barb Richardson
Nicole Sylvestre
• Secretary*: Liana Zingle
• Treasurer: Andrea Lanyi
• President: Sunil Joneja
* Denotes a vacancy for 2011
www.mywentworth.com [email protected]
2009 AGM Review
• Held on March 24, 2010 at the Co-op
• 22 residents in attendance in addition to the
board members
• Meeting Highlights:
– Continuation of area maintenance through
Foothills Landscaping
– Landscaping enhancements
– General call for volunteers to serve as directors
– City of Calgary land management agreement
– Wexford incorporation into WRA
www.mywentworth.com [email protected]
2010 Financial Review
Highlights
Financial position is sound
Current cash balance minus accounts payable is $95,000
2010 actual surplus was $29,000 higher than budgeted due to higher than budgeted payments from additional collections and new houses in Wentworth Glen
www.mywentworth.com [email protected]
2010 Financial Review
2010 Budget 2010 Actual
Difference
Revenue $80,500 $117,415 $36,915
Expenses $70,000 $78,692 $8,692
Net Surplus $10,500 $38,723 $28,223
www.mywentworth.com [email protected]
2010 Revenue Detail
2010 Fees Overdue Fees
Invoiced $116,400 $67,562
Paid $97,600 $24,528
Payment Rate 84% 36%
www.mywentworth.com [email protected]
2010 Expense Detail
• Total expenses $78,693– $3,794 Snow removal– $56,386 Grass cutting, garbage removal, watering, and
planting– $4,990 Invoicing and other administration costs– $1,299 Insurance– $224 taxes– $12,000 Donation to West Springs School for playground
www.mywentworth.com [email protected]
2011 Budget Outlook
Expense Estimates
$70,000 Base Services $2,600 Plantings $4,000 Extra watering and maintenance $15,000 Estate signs, graffiti, painting $5,000 Snow Removal $1,300 Insurance $225 Property Tax $4,500 Administration (invoicing, CC and online fees) $5,000 Community Events---------------------------------------
$107,625 Total Expenses
www.mywentworth.com [email protected]
2011 Budget Outlook
Revenue Projection
673 houses x $200 x 80% collection = $107,680
2011 Projected Net Surplus
$55
Sufficient cash flow to provide contingency and to consider area enhancements without further fee increase in 2011
www.mywentworth.com [email protected]
Plans for 2011• Continuation of maintenance services
• Enhancements
– Renew bushes along 85th street fence line
– Prune and mulch around some trees
– Paint black metal fences
• Ongoing communication with City of Calgary regarding Landscape Management Agreement (approximately $2,000 per year)• Implementation of new collection policy for late fee payment
• Addition of area amenities (trash cans, benches)
• Approach Wexford to merge into the Association
• Community events application process
www.mywentworth.com [email protected]
Community Events
• Event Criteria• Yearly or Per Event Budget• Special Requests• Frequency
• Updated website during the year• Subscribe to be notified of
upcoming events and changes via email
• How to Reach Us– www.mywentworth.com
www.mywentworth.com [email protected]
Call for Directors
• 2 year term open for all Wentworth
resident’s
• 1 year term remains for president and
treasurer position
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