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2010 IVEY FALLS HOA ANNUAL MEETING October 23, 2010

2010 IVEY FALLS HOA ANNUAL MEETING October 23, 2010. Agenda. Welcome 2010 Annual Summary 2011 Plan Property Values Focus Planning Options Quality of Life Focus Financial Summary 2010 Year-To-Date and Q4 forecast 2011 Financial Plan/Budget Elect Two New Board Members.

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2010 IVEY FALLS HOA ANNUAL MEETING October 23, 2010

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  1. 2010 IVEY FALLS HOA ANNUAL MEETINGOctober 23, 2010

  2. Agenda • Welcome • 2010 Annual Summary • 2011 Plan • Property Values Focus • Planning Options • Quality of Life Focus • Financial Summary • 2010 Year-To-Date and Q4 forecast • 2011 Financial Plan/Budget • Elect Two New Board Members

  3. 2010 Annual Summary • Amenities improvements • Message Board at Entrance • Pool House • Inspected, cleaned, repaired and painted. Focus on weekly upkeep. • New counters, umbrellas, speakers, landscaping, upgraded play area. • Security system improvements. New Umbrellas. BA improvements. • Septic system cleaned. Easy access riser installed. • Timber Walls Replacement • Pool house • Tennis courts (postponed) • Drainage • Parking lot • Nature trail access • Entrance Enhancements • Pressure Washed • Lighting • irrigation

  4. Annual Summary, cont • Website • Rebuilt at new address: www.iveyfalls.net • Easy to edit. More cost effective • Online suggestion box created • BOD email links provided • All HOA forms available • BOD activity details available • IFBOD Communications • Very responsive to member input • Held two ice cream socials/town hall meetings • Regular group emails sent to all members • HOA organization • Detailed minutes on file and on website • Available historical records organized • Professional documentation available for all CAPEX projects

  5. 2011 Annual Plan • Property Values Focus • Neighborhood Visual Enhancement • Mailboxes (underway) • Street Signs (under consideration) • Amenities • Nature Trail (under consideration) • Quality of Life Focus • Proposal related to garbage services • Information related to Pool Rules • Operation Slow Down • Create IFHOA 3 Year Plan

  6. Mailbox Program • Overview • Currently underway and will be completed in Spring 2011 • All neighborhood mailboxes will be replaced • Approximately 30 mailboxes have been replaced to date • Cost • Total mailbox price (including install and haul away) = $312.50 • Total cost to homeowner = $200 • Total cost to HOA = $112.50 ($9675) • Options / Next Steps • Homeowners planning on replacing prior 2/1/11 • Complete form and return to vendor along with $312.50 payment. You will receive a $112.50 credit on your 2011 HOA dues invoice • Homeowners NOT planning on replacing prior to 2/1/11 • No action required at this time. A $200 assessment will be added to your 2011 dues invoice

  7. Street Sign Program • Enhance neighborhood appearance by replacing existing signage with new product that matches the mailbox design • Costs: • Street/stop signs: 7 required at $875 = $6125 • Information signs: 3 required at $450 = $1350 • Total: $7475 • Operation Slow Down adds $5300

  8. Nature Trail Improvement • Create access from south end of neighborhood • Clear north end for picnic area • Raise canopy along trail • Mulch path • Evaluate feasibility of creating a playing field • Rough estimate based on conversations with landscapers: $5-7k • Third priority, behind mailboxes and street signs

  9. IFHOA Cash Flow • Cash Flow Projections • Cash Balance EOY: $21,288.36 (below $30k target) • Net Income 2011: $9,675.00 • Total Funds Available $30,963.36 • CAPEX Projects • Mailbox Program: $9,675 • Street Signs Program: $7,475 or $12,775 • Nature Trail Program: $5000 - $7000 • Timber Wall Replacement: $20,000

  10. Planning Options • 1: mailbox 2011, street signs 2011 • A: HOA mailbox offset, assess for signs (CR =$21K) • B: HOA mailbox offset, no assessment for signs (CR <$10k) • C: No HOA mailbox offset, assess for signs (CR =$31k) • Dues 2011: $920 • 2: mailbox 2011, street signs 2012 • A: HOA mailbox offset, assess for signs (CR =$30k) • B: HOA mailbox offset, no assessment for signs (CR =$18K) • C: No HOA mailbox offset, assess for signs (CR =$41k) • Dues: 2011 - $762; 2012 - $600

  11. Planning Options • 3: Nature Trail • A: 2011- if BOD selects 1A (CR =$14k), 1B (CR =$0k), 1C (CR =$24k) • B: 2012- if BOD selects 2A (CR =$23k), 2B (CR =$11k), 2C (CR =$33k) • C: 2011 or 2012, with special NT assessment • D: 2013 – if BOD selects 2A (CR =$32k), 2B(CR =$20k) • 4: Timber Wall Replacement – Priority 4 • Projects not yet assessed/prioritized • Pool Deck • Tennis Court Lights

  12. Proposal: Standardize Garbage Services • Background • 6 separate vendors are used throughout the neighborhood each with a different pickup day and time • Benefits of Consolidation • Limiting trash pickup to one day per week makes our streets SAFER!!! • Favorable group pricing for trash/recycling services • Reduced wear and tear on neighborhood streets • Less commercial traffic / associated speeding issues • Improved aesthetics; cans at curb on a single day vs. entire week • Recommendation: Waste Management • Competitive pricing • Weekly trash and recycling pickup • Tuesday morning service • 96 gallon rolling trash bin • Rolling recycling bin • Pricing locked for 24 months • WM currently provides pool trash service at no additional charge

  13. Proposal: Standardize Garbage Services, continued • With Current Participation Rate: • Current HOA WM participation rate of 31% (26 homes) • Preferred hauler rate: $45/qtr • trash, recycling services. • Optional larger 65-gallon recycling containers available for $1 extra per month. • Greater Than 60% Participation • Participation rate >= 60% (52 homes) • Price per home: $42/qtr • Greater Than 80% Participation • Participation rate >= 80% (69 homes) • Price per home: $39/qtr

  14. Pool Rules Review • Discussion with BOD this year from homeowners regarding existing pool rules • BOD reviewed existing pool rules with attorney, who is comfortable with our rules. • Better than many other HOAs, no changes needed • Pool Guests • Parties with more than 4 guests require approval of pool committee and $100 deposit. • Please submit at least 1 week in advance • Guests may not utilize any amenity, especially the pool, unescorted • Many instances of members giving their pool key to non-members for unescorted use of the pool • This is a huge liability issue and is strictly forbidden

  15. Operation Slow Down • BOD contacted Forsyth County Engineering Office to discuss options to slow down traffic in the neighborhood • Two Options Identified: • Speed Bumps • Drivers can maneuver around and/or continue to speed over speed humps with no penalty • Speed humps could pose as a nuisance to current homeowners and steer away future home buyers • Stop Signs • Recommended by the FCEO as the most legally enforceable method of slowing traffic • Stop signs installed, funded & maintained by Forsyth County until replaced by AOD • County agreed to install 1 or 2  "Watch for Children" signs at their expense • Next Steps • BOD approved the process to solicit the community for a petition on this issue • 51% of IFHOA members must sign the petition before FC will take action • Table in back of room • If Approved, FC will • Create 3 way stops at: • Ivey Falls Dr & Ivey Oaks Rd • Ivey Oaks Rd & Ivey Crossing Trail • Install the “Watch for Children” signs

  16. Financial Summary • 2010 • Balance Sheet • Budget Review • Income Statement • 2011 Budget • Budget

  17. 2010 BOD Election • Current Board • Tim, Matt and Deb remain • Geoff agreed to serve another term • Michelle resigned effective 12/31/10 • Two BOD Positions Open • This approach will stagger BOD turnover, improving continuity and stability (3 one year, 2 the next) • Announced Candidates • James Carder • Geoff Toman

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