Margil Farms
nd
2
Filing
Annual HOA Meeting
March 8, 2016
Mead Town Hall
Agenda
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Call to Order
– Quorum
Board Introductions
Town of Mead Snow and Ice Plan
Treasurer’s Report
Old Business
– Income Overview
– Current Financials
– Proposed Budget
New Business
– Issues
– Election of officers
– HOA annual dues
– Other new business
Summary
Adjourn
Introductions
• Board President
– Herman Schranz
• Board Vice-President
– Open
• Board Treasurer
– Linda Bollig
• Board Secretary
– Cristina Meiers
• At Large Board Members
– Kay Bredvik
– Shauna Lloyd
• Property Manager
– Joe Dollarhide
Treasurers Report
• Current bank account status
– $14,615.86
• Current CD status
– $10,924.80
• By resolution the HOA is required to maintain a minimum of
$20,000 in reserve
• HOA Budget vs Actuals for 2015
• HOA Expenses vs Actuals for 2015
2015 Income
INCOME
2015 BUDGET
2015 ACTUALS
PROPOSED 2016
BUDGET
Association Dues
$ 48,620
$ 49,065
$54,230@$75
$59,840@$85
Reserve Income
$ 500
$ 725
$ 500
Utility Reimbursement
$ 0.00
$0.00
$ 0.00
Late Fees
$0.00
$ 0.00
$ 0.00
Water Reimbursement
$ 2,000
$ 2,212
$ 2,000
Transfer from HOA
$0.00
$0.00
$0.00
TOTAL INCOME
$ 51,120
$ 52,002
$ 56,730
$ 62,340
Expenses Budget / Actuals
EXPENSES
2015 BUDGET
2015 ACTUALS
PROPOSED 2016
BUDGET
Insurance
$ 1,000
$ 816
$ 1,000
Back Flow Inspection
$ 100
$ 85
$ 100
Electricity
$ 480
$414
$ 480
Water / Sewer
$ 4,200
$ 2,953
$ 4,200
Trash Service
$ 25,668
$24,307
$ 25,668
HOA Mailings / Billings
$ 1,000
$ 1,274
$ 1,000
Maintenance / Repair
$ 500
$ 0.00
$ 500
HOA Signage
$ 250
$ 0.00
$ 250
Christmas Lights
$ 500
$ 0.00
$ 0.00
Snow Removal
$ 3,000
$ 2,633
$ 3,000
Expenses Budget / Actuals (Cont.)
EXPENSES
2015 BUDGET
2015 ACTUALS
PROPOSED 2016
BUDGET
Mowing
$ 6,200
$ 11,951
$ 9,160
Fertilize
$ 750
$ 580
$ 580
Clean – up
$ 900
$ 500
$ 750
Pruning / Weeding
$ 200
$ 650
$ 200
Sprinkler Repair
$750
$1,797
$750
Landscape replacement
$ 2,500
$150
$500
Park Improvements
$0.00
$0.00
0.00
HOA Website
$ 240
$ 176
$240
Professional / Legal Fees
$ 2,250
$ 2,974
$ 3,600
Management Fees
$ 7,800
$7,800
$ 10,200
Total Expenses
Surplus / Deficit
$ 58,288
$ (7,168)
$ 59,060
$ (7,058)
$ 62,178
$ (5,448)@$75
$ 162@$85
Issues
• Architectural Committee requests
– Number of submitted requests - 84
• Accepted - 78
• Denied - 6
• Increase in covenant violations
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Paint
Trailers
Vehicles
Roofs
Landscaping
New Business
• Officer Elections
– 1 Board positions – term conclusion
• Herman Schranz – President
• Jessica Paswaters – Vice-President (resignation)
– Open position
• ARC committee (3)
• HOA annual dues
– The HOA Board recommends that the dues be increased as
follows:
• Current = $65/quarter
• Proposed = $85/quarter
– Main Reasons
• Normal annual cost growth (inflation)
• Weather related events
– Additional mowing
– Damaged trees in island at entry
• Legal fees (contested violations)
Summary
• According to the HOA bylaws, we are suppose to have an executive
board and a group of officers.
• It is the current boards intent to improve the relationship between the
HOA and the homeowners, but this can only be done with involvement
from the homeowners. We can accomplish our goals with volunteers,
where people contribute a small amount of their time to assist the
board. The creation of committee’s to address a particular issue would
be extremely helpful.
• We are expecting a heavy volume of ARC request this year. We
encourage everyone to follow the ARC guidelines and submit a form for
ANY outside activity you may be planning for this year. Items include
paint, roofs, landscaping, fences and any other things you may do
outside.
• It’s your community please get involved
Q&A
• Questions and Answers