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Hillview Farms Annual Meeting January 23, 2014

Hillview Farms Annual Meeting January 23, 2014. 2012 - Financial Disaster. Financial Statements Showed Loss of ($2,157) Insurance Funds Spent & no New Roof ($4897) 2012 Tax Prep Paid From 2013 Funds ($310) 2012 Pool Contract paid f rom 2013 Funds ($983)

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Hillview Farms Annual Meeting January 23, 2014

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  1. Hillview Farms Annual Meeting January 23, 2014

  2. 2012 - Financial Disaster • Financial Statements Showed Loss of ($2,157) • Insurance Funds Spent & no New Roof ($4897) • 2012 Tax Prep Paid From 2013 Funds ($310) • 2012 Pool Contract paid from 2013 Funds ($983) • 2012 Lawn Contract paid from 2013 Funds ($690) Total Realized Loss: ($9,037) • No Cash - Bank Account in the hole ($525)

  3. Financial Overview • Income: $61,913 • Expenses: $64,070 • Net Loss: ($2,157) • Bank Balance: ($525) • Improvements: $0 • Social Events: $0 • Contract Lawn: $6,515 • Contract Pool: $9,863 • Utilities: $14,263 • Insurance: $6,102 • Legal Expense: $1,504 • Income: $81,997 • Expenses: $69,401 • Net Gain: $12,607 • Bank Balance: $12,607 • Improvements: $13,965 • Social Events: $3,032 • Contract Lawn: $4,546 • Contract Pool: $5,400 • Utilities: $8,954 • Insurance: $5,760 • Legal Expense: $510

  4. 2013 – New Self Mgmt. Financial Overview Cont’d • Mgmt. Fee: $9,370 • Copies/ Supplies: $3,197 • Electronic Transmission: $661 • Tax Prep: $300 • Security Service: $3,867 • Brian Wood Cleaning: $800 • Janitorial Services: $500 • Website: $435 • Income Capitalization Fees: $0 • Homeowner Dues: $58,903 • Sentry fee: $5,250 • Office Supplies: $923 • Elect. Trans: $0 • Tax Prep: $80 • Security Service: $0 • Clubhouse Cleaning: $100 • Janitorial: $0 • Website: $300 • Income Cap. Fees: $5,351 • Homeowner Dues: $69,226

  5. 2013 – Year of Positive Change

  6. Property Improvements - 2013 • $ 5,575 • $ 1,650 • $ 1,900 • $ 1,370 • $ 297 • $ 2,214 • $ 599 • $ 250 • $ 110 Total: $13,965 • Landscaping • Saltwater Pool • Pool Cover • Front Entrance Lights • Clubhouse Outdoor lighting • Clubhouse Furniture & Fans • Clubhouse Door Glass • Bathroom Paint & Décor • Pool Umbrellas

  7. Plans for 2014 • Replace Clubhouse Roof $6,000 • Make Additional Loan Principal Payments $3,600 • Upgrade Pool Security System $1,000 • Increased Social Committee Budget to $4,200 • Easter Egg Hunt & Fall Festival • Possibly have Santa pictures at Clubhouse • End the year with Net Income of at least $11,639 • Budgeted for $71,828 income in 2014 vs. $81,997 actual income in 2013…= more net

  8. Managing Accounts Receivable • Dec. 2012 = $16,567 • Lost Opportunity to Collect on Bankruptcy Account – Property Mgmt. did not file forms (2009) • Dec. 2013 = $11,642 • Very Old =$9,761 - 2 in Bankruptcy: $3,818 - 1 Foreclosure: $3,521 - 1 Bankruptcy: $2,422 • 5 Liens/Collection: $1,601 • Misc. Small: $280 2013 - Actual Receivables $1,881…out of $66,500 Annual Dues = 2% ***This Translates into a 98% Collection Rate*** We are actively placing liens on accounts over $175, turning accounts over to collection when they reach $200-$400, & billing homeowners with fees.

  9. Keeping our Promises Reducing Expenses Increasing Revenues Collecting Dues on Time Hiring the Best for Less Maintaining Clean, Safe Environment Increasing Community Involvement Keeping Dues Low Financial Transparency Keeping you Informed

  10. Making Hillview Farms… a Better Place to Live

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