PRESIDENT’S REPORT
ANNUAL HOMEOWNERS’ MEETING
JULY 30, 2016
Your Board of Directors
Chris Durkin (Vice President)
John Hedderich (Treasurer)
Tim Maves (Member)
Peter Raich (Secretary) term expires
John Fitzgerald (President) term expires
PRESIDENT’S REPORT
PRESIDENT’S REPORT
Your Architectural Control Committee
Dan Duke (Chair)
Chris Metzger
Linda Boyd
Architectural Report
Dan Duke
Repaint/Restain Policy:
Homeowner to paint a patch (2 ft X 2 ft) with new paint (even if we
think it is the same) for ACC approval.
Any Outside Changes: Remodel or Repair; Trees; Landscape;
Please Contact the ACC
Road Use Fee May Apply
Fire Mitigation
Create Defensible Space
Architectural Report
Dan DukeReal Estate Closings -- July 2015-2016
Welcome new neighbors
Buyer Address Closing
Dan & Diane Duke 42 Guyot Ln. 7/1/2016
Vincent & Melissa Valentine 73 Pinnacle Ln. 5/31/2016
Robert & Deborah Kopp 507 Summerwood Dr. 5/27/2016
Larry & Charlene McArthur 177 Summerwood Dr. 3/24/2016
Samuel Bejar& Bonnie Segal 417 Summerwood Dr. 3/21/2016
Brock McKee 162 High Meadow Dr. 2/29/2016
James & Betsy Horkovich 235 Eastridge Dr. 12/21/2015
Architectural ReportDan Duke
ACC Approvals (2015-2016)
Name Address Date Project
McKee 162 High Meadow Dr. July Paint
Anderson 107 Torrey Ln. May 13 New Construction
Boyd 194 Summerwood Dr. March 6 Window
Cooledge 84 Guyot Ln. January 24 Solar
Cohen 507 Summerridge Sept. 28 Re-stucco
DiBlassi 86 Guyot Sept.1 Paint
Fitzgerald 19 Sage Rd. June 25 Deck railing
Brown 127 Torrey Ridge Aug. 12 Windows
Horkovich 235 Eastridge June 29 Paint
Kopp* 507 Summerridge June 15 Deck, hot tub
Valentin 73 Pinnacle June 10 Tree remove, replace
Welbon 14 High Meadow Tr. June 2 Paint
Yawitz 196 High Meadow Dr. Oct. 6 Patio
Architectural ReportDan Duke
Encroachment Issues Addressed:
Name Address Date Project
Del Villano 42 Guyot June Driveway/Walkway
Knight 261 High Meadow August Construction
Mauldin 295 East Ridge Dr June Garage/Walkway
McArthur 177 Summerwood April Deck
PRESIDENT’S REPORT
On Site Managers
Manager:
Eric Nicholds
Assistant Managers:
Susan Nicholds & her helper, Gary
PRESIDENT’S REPORT
Strategic Plan
Mission:
“Community of Choice”
“Sustainable Future… enhance the value of the community”
Vision:
“lead… in sound fiscal management, a strong trusting
relationship with homeowners, and as an environmentally
conscious, responsible, aware and participating citizen of our
mountain community”
Core Values:
Transparency, Integrity, Mutual Respect, Fiscal
Responsibility, Helpfulness
PRESIDENT’S REPORT
Annual Activities:
>Fill Road Cracks
>Vegetation Management
>Forest Management:
~Standing Dead & Beetle Trees Removed
~Spraying as Necessary
~Pheromone Packs Installed
~Selective Thinning & Pruning
~Tree Replanting Program
PRESIDENT’S REPORT
Completed “Projects” :
Racquetball Court Flooring Installed
Programmable Pool Pump Installed
Pool Re-plastered & Drain Leak Repaired
Hot Tub Re-plastered & Leak Repaired
Fitness Equipment Upgrade
Some Paving Patched
PRESIDENT’S REPORT
Our View of the Future
Current / Future “Projects”
Address Signs
Xeriscape where appropriate
Gilan Engineering Study (& our actual experience) continues
as the basis for reserve planning
Unknowns
Thirty Year + Old Community
Annual
Homeowner
Education
Homeowner
EducationHOA Relevant Colorado Law
Colorado Nonprofit Corporation Act (CNCA)
Summerwood Articles of Incorporation
Colorado Common Interest Ownership Act (CCIOA)
Requirements imbedded in HOA Documents
Homeowner
EducationSummerwood Documents
Summerwood Declaration of Covenants
Originated by Developer
Provides for Board of Managers
(Now known as Board of Directors)
Provides for Architectural Control Committee (ACC)
Established first (and continuing) HOA rules
Very Hard to amend:
(2/3 of owners + first mortgage holders)
Homeowner
EducationSummerwood Documents
Summerwood Bylaws
Meetings (who, when, notice, quorum, voting)
Board of Directors (number, terms, etc.)
Records
May be amended by Board of Directors
Summerwood Rules Adopted by Resolution
Road Use Fee, Fines, Exterior Maint., Clubhouse, ACC
May be amended by Board of Directors
Homeowner
EducationSummerwood Documents
Summerwood Operating Manual
Board:Policies; Meetings; Communications; Financial Procedures; Annual Meeting
ACCPhilosophy; Procedures; Policies; Notification; Signs;
Annual Schedule
Site ManagerDuties; Schedules; Policies
Records Policies
Contracts & Agreements
Homeowner
Education
Wildfire Mitigation
Summerwood Wildfire Hazard Rating: Moderate
Defensible Space: Fuels Reduction Area (Cut Tall Grass)
Common Property within your defensible space needing work:
Please inform HOA.
Selected Rules: All pets must be kept on a leash when off its Owner's
Site
No pets in Common Facilities
Sports Complex Under 14 …supervised by an adult
No Glass in pool/spa area
When Renting Your Home Owner is responsible for renters
No Pets
OHV restricted from our roads
Tenant info to HOA if > 30 days
Homeowner
Education
PRESIDENT’S REPORT
Safety Reminders
Walk our Roads Defensively
Respect non-motorized users when driving our roads (Speed Limit 20 mph)
Entrance Bike Crossing Caution:
Bikes have a stop sign, but often don’t look for cross traffic
Cars have right of way, but…
HOMEOWNER
EDUCATIONWebsitehttp://www.summerwoodassociation.com
Owners Login Section:
Password: Summerwood
Welcome Page: President’s Corner
Meetings & Minutes: BOD Schedule/Agenda/ Minutes
(You are welcome to attend any meeting)
BOD Members:
ACC Members:
Financials:
Insurance: Summary
Vendors: Disclaimer
MANAGEMENT COMPANY REPORT
Gary; Susan; & Eric Nicholds
Basic Property Management
FINANCIAL REPORT
John Hedderich
Treasurer
Summerwood Budget Worksheet for Year 2017 Dues unchanged from $275 Draft 01
Fiscal Year: January - December Actuals Actuals Actuals Actuals Budget Budget Budget
2013 2014 2015 Jun2015 2015 2016 2017
May 2016 Approved Approved Proposed Comments
Operating Income /Owner/month
Dues: Operating _97 owners 176,637 177,114 175,496 178,605 175,498 182,960 185,235 $159.14
Mgmt Fee - Ridge 4-Plex 4 2,866 2,928 2,988 3,013 2,987 3,047 3,047 + 0.0%
Mgmt Fee - Summer Ridge 6 4,299 4,380 4,468 4,505 4,468 4,557 4,557 + 0.0%
MgmtFee - Torrey Ridge 8 5,733 5,844 5,964 6,014 5,961 6,080 6,080 + 0.0%
Sale of Vehicle - 15,000 - - - - -
Trash Reimbursement $20/month 3,520 3,100 2,640 2,640 3,120 2,640 2,640
Misc Income _ Interest 120 167 47 264 - - -
Total Operating Income 193,175 208,533 191,602 195,041 192,034 199,284 201,559
Operating Expense
Bad Debt 953 - - - - - -
Administration
Annual Meeting Expense 2,411 2,712 2,177 2,177 2,500 2,500 2,500
Bank Service Charges - - - - - - -
Cable TV 1,821 1,909 1,871 1,898 2,000 2,000 2,000
Clubhouse Holiday Decorations 22 32 1,091 1,091 150 100 100
Contributions - - - - - - -
Directors Meeting Expense - 22 - 8 - - -
Filing Fees 227 26 38 68 10 20 20
Insurance 6,979 6,663 6,568 6,665 8,400 6,500 6,700
Office Supplies 121 290 111 149 250 200 200
Other Admin 3,720 3,424 3,390 3,122 3,500 3,500 3,500
Postage and Delivery 262 163 123 119 300 300 200
Printing and Reproduction 241 193 441 434 250 300 400
Secretarial Service 827 954 1,056 1,031 1,200 1,000 1,000
Security System 375 273 273 273 375 300 275
Taxes & Licenses - - - - - - -
Telephone 3,192 3,158 3,076 2,732 3,200 3,200 3,200
Unit Inspections - - - - - - -
Web Page Admin 420 420 420 420 420 420 420
Total Administration 20,620 20,238 20,634 20,187 22,555 20,340 20,515
Management Fee 111,226 113,451 115,729 116,694 115,729 118,044 118,044 + 0.0%
Fiscal Year: January - December Actuals Actuals Actuals Actuals Budget Budget Budget
2013 2014 2015 Jun2015 2015 2016 2017
May 2016 Approved Approved Proposed Comments
Professional Fees
Legal Other Than Architectural 174 2,475 4,800 3,405 200 2,500 3,500
Total Professional Fees 174 2,475 4,800 3,405 200 2,500 3,500
Repairs & Maintenance
Building Maintenance 3,223 2,866 778 15 2,500 2,500 1,000
Clubhouse - Other 4,383 4,298 4,574 4,313 4,000 4,500 4,500
Clubhouse - Pool & Spa 1,970 7,899 6,429 10,127 2,200 6,000 6,000
Grounds Maintenance 5,018 2,504 9,375 9,379 5,500 3,000 8,000
Managers Unit 202 124 - 145 300 300 300
Ordinary Road Maintenance - - - - - - -
Other Maintenance - - - - - - -
Signage Program - - - - 150 - -
Snow Removal - 75 - - 100 - -
Trash Removal 11,770 11,135 11,506 11,781 11,500 11,500 11,500
Tree Replacement - 3,000 300 300 1,000 3,000 3,000
Total Repairs & Maintenance 26,566 31,902 32,962 36,059 27,250 30,800 34,300
Utilities
Electric 10,174 9,152 7,456 6,513 9,000 8,500 8,000
Gas 4,187 4,696 4,274 4,264 4,000 5,000 5,000
Water & Sewer 3,728 5,047 5,035 5,955 3,700 5,000 5,000
Total Utilities 18,089 18,894 16,766 16,732 16,700 18,500 18,000
Vehicle Expense
Gas, Oil, Washing 2,678 4,140 1,870 1,863 3,000 3,000 2,000
Insurance, Licenses, Registr 3,740 2,789 2,508 2,332 3,000 3,000 2,500
Repairs & Maint-Trucks 4,100 4,013 1,084 1,117 3,000 2,500 2,500
Repairs&Maint-Skid Steer 94 - - - 500 500 100
Vehicle Expense - Other 155 159 - - 100 100 100
Total Vehicle Expense 10,767 11,102 5,461 5,312 9,600 9,100 7,200
Total Operating Expense 188,394 198,061 196,352 198,388 192,034 199,284 201,559
Operating Net Income/(Loss) 4,781 10,472 (4,749) (3,348) - - -
Other Income & Expense
Other Income
ACC Consulting Fees - - - - - - -
ACC Plan Review Fees - - - - - - -
Collection Fees - - - - - - -
Late Fees 78 28 40 120 - - -
Fines 100 500 - - - - -
Mail Box Charges - - - - - - - /Owner/month
Dues: Reserve Fund 114,363 131,346 138,784 138,100 138,782 137,140 134,865 $115.86
Interest - Money Market 824 825 826 816 - 800 800
Road Use Fee - 4,715 - 9,683 - - -
Total Other Income 115,365 137,414 139,650 148,718 138,782 137,940 135,665
Other/Reserve Expense
Reserve
R Clubhouse - exterior paint - - - - - - -
R Clubhouse - redecorate - - - - - - -
R Clubhouse - security system - - - - - - -
R Ditches and culverts cleaning - - - - - - -
R Dumpster - move and/or replace - - - - - - -
R House signs - stain - - - - - - -
R Managers Unit - improvements 987 - - -
R Plant Health and Pruning - - - - - - -
R Pool & Spa - heat exchanger - - - - - - -
R Pool & Spa - Major overhaul - - - 11,500
R Racquetball Court - repairs - - - - - - -
R Roads - sealcoat 37,843 - - - -
R Roads, crackseal (yearly) - 6,510 7,800 - - - -
R Snow Plow - replace - - - - - - -
R Tennis Court repair - - - - - - -
Subtotal Reserve 38,830 6,510 7,800 11,500 - - -
Fiscal Year: January - December Actuals Actuals Actuals Actuals Budget Budget Budget
2013 2014 2015 Jun2015 2015 2016 2017
May
2016 Approved Approved ProposedComments
Fiscal Year: January - December Actuals Actuals Actuals Actuals Budget Budget Budget
2013 2014 2015 Jun2015 2015 2016 2017
May 2016 Approved Approved Proposed Comments
Other
ACC Consulting Expense - - - - - - -
ACC Plan Review Expense - - - - - - -
Audit - - 5,000 5,000 - - -
Bad Debt - - - - - - -
Clubhouse - gutters & heat tape - - - - - - -
Clubhouse - install gas heat - - - -
Clubhouse - Security System 10,162 3,477 - - - -
Clubhouse - Boiler System 33,696 11,363 - - - - -
Clubhouse - Refurnish 12,249 9,284
Drainage improvements - ClbHs 1,010 11,060 - - - - -
Energy Improvements - - - - - - -
Fire Mitigation 21,540 - - - 20,000 20,000 20,000
Plant and tree removal, pruning - 12,229 15,000 15,000 - - -
Pool/Hottub repair - - - -
Racquetball repairs - 1,800 2,491 2,491 - - -
Small Unplanned projects 3,500 - - - -
Solar Project - - - -
Water Meter/Backflow - 1,186 - - - - -
Subtotal Other 66,408 41,138 38,217 31,775 20,000 20,000 20,000
Total Other/Reserve Expense 105,238 47,648 46,017 43,275 20,000 20,000 20,000
Other/Reserve Net Income/(Loss) 10,127 89,766 93,633 105,444 118,782 117,940 115,665
Total Revenue 308,540 345,947 331,253 343,759 330,816 337,224 337,224
Total Expense w/o Depreciation 293,632 245,709 242,369 241,663 212,034 219,284 221,559
Total Net Income (Loss) w/o Depr 14,908 100,237 88,883 102,096 118,782 117,940 115,665
Cash Assets less liabilities- Year End 597,562 694,392 784,617 843,203
Dues/month/owner 250 265 270 270/275 270 275 275
ANNUAL HOMEOWNERS’ MEETING
Election of Managers
(Board of Directors)
ANNUAL HOMEOWNERS’ MEETING
Unfinished Business?
New Business?
ANNUAL HOMEOWNERS’ MEETING
Until Next Year…
Thanks for Listening!
ANNUAL HOMEOWNERS’ MEETING
End
ANNUAL HOMEOWNERS’ MEETING
Dues Comparison
Summerwood 2016
Operations: $ 157.18
Reserves: $ 117.82(Roads; Pool; Clubhouse;
Road & Driveway Plow;
Home Inspections)
Total: $ 275.00
Keystone Ranch 2015
Operations: $161.00
Reserves: $114.00(Roads; Pool Share; Road Plow)
Subtotal $275.00
Water: $ 40.00
Total: $315.00
ANNUAL HOMEOWNERS’ MEETING
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Gas/Electric Yearly Total