1 / 27

Plymouth Commons Homeowners’ Association

Plymouth Commons Homeowners’ Association. 2009 Annual Association Meeting Treasurer's Report Rebecca Ufford February 16, 2009. Topics. Current Status 2004-2008 Financial Statements Moving Forward. Current Status. Approved Budget—90 homes are participating in votes. Current Status.

aneko
Download Presentation

Plymouth Commons Homeowners’ Association

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Plymouth Commons Homeowners’ Association 2009 Annual Association Meeting Treasurer's Report Rebecca Ufford February 16, 2009

  2. Topics • Current Status • 2004-2008 Financial Statements • Moving Forward

  3. Current Status • Approved Budget—90 homes are participating in votes

  4. Current Status • Approved Budget—90 homes are participating in votes • Controls on Financial Spending • Board approval on all outgoing funds prior to commitment • Dual signature required • Checks and Balances

  5. Current Status • Approved Budget—90 homes are participating in votes • Controls on Financial Spending • Board approval on all outgoing funds prior to commitment • Dual signature required • Checks and Balances • Regular monthly Treasury Report to PCHA Board

  6. Current Status • Approved Budget—90 homes are participating in votes • Controls on Financial Spending • Board approval on all outgoing funds prior to commitment • Dual signature required • Checks and Balances • Regular monthly Treasury Report to PCHA Board • U.S. Taxes Prepared and Filed • No tax burden deemed required for 2004-2007 • Tax payment will be necessary for 2008

  7. Current Status • Approved Budget—90 homes are participating in votes • Controls on Financial Spending • Board approval on all outgoing funds prior to commitment • Dual signature required • Checks and Balances • Regular complete monthly Treasury Report to PCHA Board • U.S. Taxes Prepared and Filed • No tax burden deemed required for 2004-2007 • Tax payment will be necessary for 2008 • Association Records • All records known to exist to association business have been consolidated and organized in logical method

  8. 2004-2008 Financial Statements • Extraordinary expenses in 2008: • Banking Fees $1,115.00 Research fees, prior year statements, check copies • Professional Fees $6,424.50 Accounting, Legal from 2007 and 2008 1Q • Removing these items brings 2008 expenditures to $23,632.00 • Per lot burden $181.00

  9. 2004-2008 Financial Statements • Extraordinary expenses in 2008: • Amount due from Member (Footnote #3 of Exhibit C in compilation) • $44,958.57 was returned to PCHA during 2007 and 2008 by Bhru Patel (principal amount) • $9,007.21 was received by PCHA in 2008 from Bhru Patel (interest amount)

  10. 2004-2008 Financial Statements • Extraordinary expenses in 2008: • Amount due from Member • Items in process • Small Claims issue of $3500—details later in meeting • $1100 in banking and research fees • $2400 in accounting work that had to be completely redone

  11. Moving Forward • Formalized procedures for Treasurer position being drafted for Board approval • Homeowner's Association Members rights—include all records available at regular monthly board meetings and by appointment, please!!

  12. Moving Forward • Formalized procedures for Treasurer position being drafted for Board approval • Homeowner's Association Members rights—include all records available at regular monthly board meetings and by appointment, please!! • Volunteers required!! • Special thanks to Ric Borsos, Finance Committee Members: Brahm Kataria, Phil and Michelle Bourassa, Frank Del Col, Rebecca Ufford; Diane Harrison • Thanks to others who have helped: Lois Heikkinen, Jean Hannon, Don Ufford

  13. PCHA 2009 Annual Meeting • 2009 Update/Outlook • Results of Voting • Next Steps, Implementation • PCHA Cash Position • 2009 Elections • Reach Out - Volunteers

  14. Results of 2009 Vote and Spending Proposals Quorum Achieved – 90 ballots were received, 87 (or 2/3rds of the lots) being required for quorum. Budget and Proposals 2009 Operating Budget Management Co. Proposal $100 dues for 2009 Entrance Beautification

  15. Next Steps Operating Budget Implementation of 2009 Budget

  16. Next Steps Proposal #2 Implement the 1 year reduction in Association Membership Dues $100 Dues in 2009

  17. Next Steps Proposal #3 Implementation of Entrance Beautification

  18. Updated PCHA Cash Position The cost difference of 130 lots @ $100 versus $230

  19. 2009 Elections • Any director would be expected to sign the conflict of interest policy.  • Vote will be conducted during the month of March. • First meeting of the newly elected officers to be held on April 13. • Two openings • one 3 - year term • one 1 - year term (Christine Bodies' remaining term). • Exact dates will be distributed after March 9 • (our next Board Meeting)

  20. Volunteers Your association needs volunteers for the following: Architectural Review Committee – Restrictions and Compliance Bookkeeping Support Entrance Beatification Roads Maintenance Sub-Committee Social Sub-Committee Sign up sheets available, or just send the board an email.

  21. You can please some of the people some of the time… But you can’t please all of the people all of the time.

  22. PCHA Communications Brinton Baker - Secretary

  23. BOD Meeting MinutesPCHA Communications • Your best way of keeping up on what’s happening in the association • Contents of All Minutes • Checks Paid • Account Balance • All Board votes taken • Distribution • Immediately via email • Within two weeks via printed distribution

  24. Association NewslettersPCHA Communications • Contents • Relevant subdivision/town news items • Non-urgent Board communications • Homeowner-generated topics • Distribution • Roughly Quarterly • Immediately via email • Within two weeks via printed distribution

  25. Homeowner CommunicationsPCHA Communications • Board receives many homeowner emails • Two-Tier Response • Those that are brief and straightforward can be answered directly and immediately • Those that are more complex, or that require a Board discussion, will be brought up at the new Board meeting under “New Business” and addressed • Please be understanding - remember that we are a volunteer board with full-time jobs!

  26. Web SitePCHA Communications • Strategy: Get something up as promptly as possible and enhance it going forward • Planned Content • Resources: minutes, newsletters, by-laws, covenants & restrictions, maps, key contacts, meetings schedule • Homeowner Directory: publicly available information (names), home-owner specified contact information & personal information • Contractor Central: single place for contractors to find available contracts, statements of work

  27. Email CommunicationsPCHA Communications • Please provide one or more email addresses! • Providing your email address ensure prompt receipt of all official PCHA communications

More Related