HUNTSVILLE AREA ASSOCIATION OF REALTORS®

BOARD OF DIRECTORS MEETING AGENDA

535 Monroe Street, Huntsville, AL

Tuesday,

June 18, 2013

9:30 AM

CALL MEETING TO ORDER JULIE LOCKWOOD

I. INVOCATION

II. PLEDGE OF ALLEGIANCE

III. APPROVE NALMLS MOTIONS JULIE LOCKWOOD

IV. CONSENT AGENDA JULIE LOCKWOOD

a) Motion to approve the HAAR Consent Agenda/Minutes

V. TREASURER’S REPORT KATHY MANN

a) April Financials

VI. PRESIDENT REMARKS JULIE LOCKWOOD

VII. CEO UPDATE KIPP COOPER

a) Updates

VIII. COMMITTEE REPORTS

a) Bylaws JENNIFER PERRAULT

b) Governmental Affairs STEVEN LAMAR

c) Affiliate Director CRAIG PAULUS

d) North Alabama CRS BONNIE BALLARD

e) WCR CINDI PETERS

f) YPN Huntsville JOHN EVANS

g) REALTORS in Action BETTY HUGHES

h) Installation Banquet BETTY HUGHES

IX. OTHER BUSINESS

ADJOURN MEETING

IMPORTANT DATES

June 24-26 ABR/SFR Designation Courses

July 16 Finance and Budget 9-11am

July 23 HAAR O&D Meeting

June 30 Social Media and Facebook CE Classes

July 31st HAAR Technology Expo

August 1 Google Bootcamp

May 20th

Finance & Budget Meeting 9am

October 24-25 CRS Core Classes

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BOARD OF DIRECTORS MEETING

OF

THE HUNTSVILLE AREA ASSOCIATION OF REALTORS®

June 18, 2013

CONSENT AGENDA

(Items listed on the Consent Agenda are expected to be routine and non-controversial and, unless the Board directs that an item be held for further discussion, the entire CONSENT AGENDA will be acted upon

for block approval. If the Board directs that an item listed on the CONSENT AGENDA be held for further discussion, the item will be addressed under “Other Business.”)

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HAAR Consent Agenda June 18, 2013 ITEM PAGE Approval of May Minutes 3-5 May Committee Reports 6 May/June 2013 Membership Report 7 NALMLS May Statistics 8

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HUNTSVILLE AREA ASSOCIATION OF REALTORS®

OFFICERS & DIRECTORS MEETING MINUTES

Tuesday, May, 21, 2013

8:30 AM

PRESENT: President Julie Lockwood, President-Elect Bill Stewart, MLS President Opie Balch, Secretary/Treasurer Kathy Mann, Attorney Bo Harrison, Bonnie Ballard, Ginny Brandau, Larry Carroll, John Evans, Steven LaMar, Zelda Lanza, Valerie Miles, Clif Miller, Craig Paulus, Landa Pennington, Cindi Peters, Tommy Pruett, Michael Rosenblum, Rod Schumann, Robert Simons, Regina Underwood, Rod Weaver, Mark Williams ABSENT: Betty Hughes, Lynn Kilgore, Terry Lewis and Jan Wells STAFF: CEO Kipp Cooper, Christina Hearne, Rhonda Ricketts, Katy Fitzgerald, Tammy Owen OTHER PRESENT: Sha Jarboe At a meeting of the Officers and Directors, held at the Huntsville Area Association of REALTORS, 535 Monroe Street, Huntsville, AL., 35801, the meeting was called to order by President Julie Lockwood at 8:33am, Central Standard Time. Invocation was led by Julie Lockwood. Pledge of Allegiance was led by Rod Weaver. MOTION: To approve the HAAR Consent Agenda with one change to the Minutes. 1) On page 8 it should read under discussion of the third motion, “The policy was taken…” instead of “The policy way taken…” Motion Carried. TREASURERS REPORT Secretary/Treasurer Kathy Mann presented the March 2013 Financials.

HAAR Balance Sheet The HAAR balance sheet currently reflects total assets of $1,201,186 compared to $4,956 in liabilities. 99% of the current assets are in cash, CD, money market or restricted reserves. Deferred Income of $468 are overpayments on dues which members want held on their account HAAR Profit and Loss Statement / Income Statement The HAAR Income Statement reflects total income of $287,232.97 and total expense of $118,184.32 as of March 2013 resulting in a Net Income of $169,048.65. Income line 152513 - HAAR Dues 2013 reflects dues collection for 1,636 members (only 1,440 members were budgeted for 2013). Income line 1530 - Miscellaneous Income includes sponsors for Realtor Day and Past President / Brokers Breakfast. Expense lines 18271-18276 consist of purchases of Supra items to be sold to the member. The corresponding income lines are 1552 - 1556. The Net Income is $169,048 which is $25,626 more than budgeted for March. CONTRACT RENEGOTIATIONS: The janitorial contract was renegotiated mid-2012 for a savings of $8,844. The window cleaning contract was cancelled in 2013 for a savings of $600. Net Savings is $9,444. PRESIDENT’S REMARKS President Julie Lockwood asked the officers to share about their trip to D.C for the NAR Midyear conference. President Julie Lockwood reminded everyone that the next Past President/Broker meeting will be on May 23

rd at HAAR at

8:30am.

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President Julie Lockwood said that they had two people send in their resume and endorsement letters to us that are requesting our support for 2014 AAR Secretary, Mugs Mullins and Cindy Dyer. MOTION: That HAAR not endorse anyone for AAR Secretary. Motion Failed. MOTION: That HAAR endorse Cindy Dyer for 2014 AAR Secretary Motion Carried Unanimously. President Julie Lockwood reminded everyone that it s time to appoint the Nominating Committee. Per the HAAR bylaws it will be made up of the Past 5 Presidents (willing to serve) and 2 members at large that will be voted on at the June 6

th Membership

Meeting. MOTION: To affirm the appointment of Valerie Miles, Bill Ward, Sid Pugh, Cindy Allen and Clif Miller to the Nominating Committee. Motion Carried. CEO UPDATE

CEO, Kipp Cooper shared that we will be having the first annual HAAR Technology Expo July 30-August 1st

and that more details will be coming soon.

CEO Kipp Cooper reminded everyone that the office will close at Noon on May 24th

for staff to do some major Spring cleaning. CEO Kipp Cooper shared that while at a Jackson County Board of REALTORS membership meeting he was told that their Board voted to let their home inspectors have keys. The problem is that they use our keys and lockboxes and that is against our rules. There is an affiliate key that requires a code that is given by the realtor to allow access. Kipp suggested that we either deny the request or allow the affiliate keys but the decision is up to our Board. MOTION: To allow Jackson County board of REALTORS members to allow licensed and bonded home inspectors to purchase an affiliate key that will require a unique code provided by the listing agent. Amendment to Motion: To include a wholehearted indemnity agreement be signed (if not already in the contract) Amendment to the Motion Carried. AMMENDED MOTION: To allow Jackson County board of REALTORS members to allow licensed and bonded home inspectors to purchase an affiliate key that will require a unique code provided by the listing agent and a wholehearted indemnity agreement be signed (if not already in the contract) Motion carried as amended.

COMMITTEE REPORTS

ARPAC Committee Chair Sha Jarboe updated everyone on the new ARPAC numbers and that as of the end of April we were at 39% of our goal. She also shared with everyone that at the Major Donor/Top Producer Event that they raised in donations and pledges over $21,000. She sadi the next big event withh be September 27

th at HAAR and will have a 70’s theme.

Governmental Affairs Committee Chair Steven Lamar told everyone that the Historic Tax Credit Bill passed and that the Per Unit License Ban (HB 257) was defeated. He urged everyone to contact their representatives. Affiliate Director Craig Paulus said he has been in contact with all the affiliate members and they expressed an interest in having a meeting so he will be setting that up soon.

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CRS Chair Bonnie Ballard was also at the National CRS meetings at NAR midyear. She shared that Landa Pennington has been appointed Regional Vice President of CRS. She informed everyone that June 24-28 is National CRS week and there will be a lot of webinars available. She also reminded everyone that they are selling tickets for their annual “Be a Santa to A Senior Charity Event” (Tickets are 10 for $30,) and that the CRS Core Class will be October 24-25. WCR President Cindi Peters thanked everyone that supported the inaugural Huntsville Derby Event, it was a great success. At their next meeting on June 12

th, Olly Orton from the Downtown 47 is coming to speak.

YPN Chair John Evans said the next YPN event will be June 17

th at Concerts in the Park at Big Spring Park.

President Julie Lockwood on behalf of REALTORS in ACTION Chair Betty Hughes read the following note from Betty:

Still selling tickets for the June membership drawing, next will be patio set. Some of us worked the Madison derby. We received thank you notes from the Madison Historic Society and Kipp Cooper family. Talking to some folks about giving donations to the REALTORS in Action fund, so far we have a commitment of $1500. The monies will be going into an account already set up thru HAAR, with Betty Hughes and kipp signing. We sent out three condolence cards last week. Committee has agreed to support the crisis center as ongoing charity. Please encourage ticket sales. The owner of brooks and collier will be at our membership meeting in June to do the drawing. HOA state task force Update: Rep Mac McCutcheon, will be introducing at next session one of three issues he will be bring forth, one being the HOA issues. A private owner spoke to the house and senate about non disclosure. One of the issues coming forth is the buyer have enough time to review docs and it must be disclosed if there has been any loans placed on common amenities without homeowners knowledge. Additionally, license issue, i will forward the docs he will be presenting as soon as they are forwarded to me.

NEW BUSINESS Clif Miller thanked everyone for all their support when his mother passed away. Meeting adjourned at 10:12 am Minutes submitted respectfully by Christina Hearne for Kathy Mann.

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May Committee Reports ARPAC BYLAWS

Will report at O&D. CARAVAN The builders tour is up for decisions. The builders will announce the tour but do not want to be involved in any planning or running. My feeling is if we do this we need another committee to Run it. I am willing to chair it but would give up mls tour to do it. –Jim Davis FINANCE & BUDGET No report. FORMS No report. GRIEVANCE Nothing to report. GOVERNMENTAL AFFAIRS No report. Education Committee No report. ORIENTATION No report.

PROFESSIONAL STANDARDS No Report. REALTORS in Action No report.

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May-June, 2013 HAAR MEMBERSHIP REPORT

The Huntsville Area Association of REALTORS® has received 1 Designated REALTOR® Applications, 19 REALTOR® Applications, 2 Affiliate Applications and 3 Member Benefits Partners Applications from May 14, 2013 thru June 10, 2013.

DESIGNATED REALTOR® Timothy Edwards Trans Action

REALTOR®

Diane M. Ash Weichert, Realtors-The Space Place Jaime D. Bradfield Adams Homes LLC Donna F. Brown Rise Real Estate-Parkway Plaza Andrea “Ann” Caraway Rise Real Estate, Inc. Ron Dunivant Keller Williams Realty-HSV Denise Edwards Trans Action Ashleigh Cason Green Keller Williams Realty-HSV Rick Holtz Exit Realty of the Valley-HSV Joshua Davis Rosenblum Realty, Inc. Denise McConico Rise Real Estate, Inc. Kendall “Kenny” Miller Exit Total Realty Amanda Minton Amanda Howard Real Estate Barbara Neighbors Keller Williams- HSV Brian S. North Weichert Realty, The Space Place Judith “Judy” Perry Rise Real Estate- Mad. Melody “Gina” Szinegh Davenport Agents David Charles Vetter Morley Real Estate Group, Inc. Al Weaver Re/Max Alliance-Madison Lachun Weaver Re/Max Alliance-Madison

AFFILIATE

Charles “Mark” England (w/nalmls) Mark England Appraisals John E. Gibson (w/nalmls) Gibson Appraisals, LLC

MEMBER BENEFITS PARTNERS

Odel Applewhite Applewhite Movers, LLC Justin Brewer Verizon Wireless Sasha England Smarter Agent

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Alabama Housing Statistics Reporting Form North Alabama Multiple Listing System, Inc. (NALMLS)

Board: HUNTSVILLE AREA ASSOCIATION OF REALTORS

Month: May, 2013

MONTHLY TOTALS (This represents our previous form.)

# Sold This

Month

Average Selling

Price

Median Selling

Price

Average Days

On Market

# of Units on

the Market

Total 469 $196,779 $168,000 103 3056

# Pending

This Month

Average

Pending

Price

Median Pending

Price

Average Days

On Market

# of Units Currently

Pending

Total 372 $192,794 $165,000 113 621

BY PROPERTY TYPE (Please mark "NR" if MLS cannot retrieve these figures)

# Sold This

Month

Average Selling

Price

Median Selling

Price

Average Days

On Market

# of Units on

the Market Existing SF

(Single Family,

Garden &

Townhomes):

350 $182,494 $152,500 113 2,484

Condo(New &

Existing): 15 $122,070 $98,000 178 100

New Construction:

(Single Family,

Garden &

Townhomes)

104 $255,629 $246,450 72 472

PRICE DISTRIBUTION

Price Range: # of Total Sales: AVG DOM # of Current Active Listings

$99,999 OR UNDER 88 101 508

$100,000 - $124,999 48 99 257

$125,000 - $149,999 59 97 319

$150,000 - $199,999 96 75 563

$200,000 - $249,999 57 142 420

$250,000 - $299,999 48 89 357

$300,000 - $349,999 33 103 159

$350,000 - $399,999 19 27 159

$400,000 - $449,999 7 74 68

$450,000 - $499,999 3 77 71

$500,000 - $549,999 2 101 34

$550,000 - $599,999 2 12 38

$600,000 - $649,999 0

13

$650,000 - $699,999 1 24 19

$700,000 - $749,999 0

10

$750,000 - $799,999 2 63 9

$800,000 OR OVER 4 195 52

6-18-2013 HAAR Officers and Directors Bylaws Committee

HAAR Bylaws:

1) ARTICLE X1 – OFFICERS AND DIRECTORS

SECTION 2 (d). DUTIES OF THE OFFICERS

d. The Secretary/Treasurer shall be the custodian of the funds of the Association, shall keep an accurate record of all receipts and disbursements, shall review the records of all receipts and disbursements, and shall provide to all Members of the Board of Directors s quarterly statement of all accounts and financial seal and shall affix the same to all documents properly requiring such seal. It shall be the duty of the Secretary/Treasurer to maintain the records of the meeting of the Association and its Board of Directors.

Recommendation to approve Section 2 (d) as revised above. Recommendation passed. NOTE: If approved make sure duties of Finance Director are spelled out in the Personal

Policy Manual.

2) ARTICLE XII - MEETINGS

SECTION 5. NOTICE OF MEETINGS.

Recommendation to add “or delivered electronically”

Written notice shall be given to every member entitled to participate in the meeting at least one

(1) week preceding all meetings. In the event of a special called meeting, the notice shall

contain a statement of the purpose of the meeting. Written notice shall be considered given to

every Member the day after a notice is mailed or delivered electronically to the Designated

REALTOR® Members of the Association at most current addresses of their various offices and,

unless directed otherwise by the Board of Directors, placed upon the computer system bulletin

board.

Recommendation to approve Article XII, Section 5 as revised above. Recommendation passed.

3) ARTICLE X1

SECTION 5(d) – ELECTION OF OFFICERS AND DIRECTORS

The section of this paragraph regarding paper balloting currently reads: It was requested to look at revising the bolded section below. The rationale was that some members may not know all of the officers or directors on the ballot.

Paper balloting shall be available during the Association’s normal business hours on Friday and Monday. The ballot shall contain the names of all the nominees. Names on voting ballots shall be in alphabetical order. No ballot shall be counted unless the number of individuals voted for equals the number of Directors to be elected. This information is to be noted on the ballot. (4-03) Further discussion on this topic was to revise section 5(b), which reads, “The Nominating Committee shall select one (1) or more nominees for each office and each position to be filled on the Board of Directors.” To include more candidates than the allotted openings so that members could have more choices of people to vote for in the slate of openings. Recommendation: To table and take to the HAAR Officers and Directors for further discussion and bring back a recommendation to the Bylaws Committee.

HUNTSVILLE AREA ASSOCIATION OF REALTORS

As of April 2013

Notes to HAAR April 2013 Financial Statement

HAAR Balance Sheet

The HAAR balance sheet currently reflects total assets of $1,174,641 compared to $3,172 in liabilities.

99% of the current assets are in cash, CD, money market or restricted reserves.

Deferred Income of $618 are member overpayments which they want held on their account

Two new items on the balance sheet are the Realtors in Action bank account and its offsetting payable account.

HAAR Profit and Loss Statement / Income Statement

The HAAR Income Statement reflects total income of $321,461 and total expense of $177,173 as of April 2013

resulting in a Net Income of $144,287.

Income line 152513 - HAAR Dues 2013 reflects dues collection for 1,658 members (only 1,440 members

were budgeted for 2013).

Income line items 1511 & 1515 are new income producing items.

Income line 1530 - Miscellaneous Income includes sponsors for Realtor Day and Past President / Brokers Breakfast as

well as vendor discounts.

Income line item 18271 Lockbox shows a profit of $11,390 for April depleting the inventory. In May, $11,598 in

lockboxes were ordered for inventory. This expense and income will be presented on the May financials.

The Net Income is $144,287 which is $32,036 more than budgeted for April.

CONTRACT RENEGOTIATIONS:

The janitorial contract was renegotiated mid-2012 for a savings of $8,844. The window cleaning contract

was cancelled in 2013 for a savings of $600. Net Savings is $9,444.

HUNTSVILLE AREA ASSOCIATION OF REALTORS

Summary Balance Sheet As of April 30, 2013

Apr 30, 13

ASSETS

Current Assets

Checking/Savings 749,898.77

Accounts Receivable 747.83

Other Current Assets 4,345.00

Total Current Assets 754,991.60

Fixed Assets 418,649.28

Other Assets 1,000.45

TOTAL ASSETS 1,174,641.33

LIABILITIES & EQUITY

Liabilities

Current Liabilities

Other Current Liabilities 3,172.09

Total Current Liabilities 3,172.09

Total Liabilities 3,172.09

Equity 1,171,469.24

TOTAL LIABILITIES & EQUITY 1,174,641.33

Page 2 of 9

HUNTSVILLE AREA ASSOCIATION OF REALTORS

Balance Sheet As of April 30, 2013

Apr 30, 13

ASSETS

Current Assets

Checking/Savings

1101 · Petty Cash 300.00

1102 · Petty Cash - Key System 147.00

1103 · Regions Operating Account 133,432.99

1105 · Restricted - Operating Reserves 579,489.90

1108 · Restricted - Bldg Maint Reserve 25,581.64

1109 · Restricted - Computer Reserve 10,232.24

1112 · Regions-Realtors in Action 715.00

Total Checking/Savings 749,898.77

Accounts Receivable

1121 · A/R - from MLS 747.83

Total Accounts Receivable 747.83

Other Current Assets

1190 · Prepaid Expenses 225.00

1194 · Prepaid Income Tax 4,120.00

Total Other Current Assets 4,345.00

Total Current Assets 754,991.60

Fixed Assets

1202 · Building Accessories 3,860.54

1203 · Land (Purchased July 1980) 130,722.50

1204 · Furniture & Equipment 8,474.84

1215 · Land Improvements 4,217.91

1217 · Computer Equipment 946.45

1218 · Original Building 0.12

1219 · Building Addition 132,833.86

1220 · Trademark 6,049.16

1230 · Copyright 266.69

1250 · HAAR Logo 2,937.90

1221 · Leasehold Improvements 128,339.31

Total Fixed Assets 418,649.28

Other Assets

1225 · Investment in MLS 1,000.45

Total Other Assets 1,000.45

TOTAL ASSETS 1,174,641.33

Page 3 of 9

HUNTSVILLE AREA ASSOCIATION OF REALTORS

Balance Sheet As of April 30, 2013

Apr 30, 13

LIABILITIES & EQUITY

Liabilities

Current Liabilities

Other Current Liabilities

1300.1 · A/P - Realtors in Action 715.00

130913 · Payable - ARPAC 2013 20.00

1317 · Atrium Fund 807.89

1320 · Deferred Income 618.50

1324 · Building Use - Refundable Dep 900.00

1380 · Sales Taxes Payable 110.70

Total Other Current Liabilities 3,172.09

Total Current Liabilities 3,172.09

Total Liabilities 3,172.09

Equity

3900 · Fund Balance 1,027,181.91

Net Income 144,287.33

Total Equity 1,171,469.24

TOTAL LIABILITIES & EQUITY 1,174,641.33

Page 4 of 9

HUNTSVILLE AREA ASSOCIATION OF REALTORS

Profit & Loss Budget vs. Actual January through April 2013

Jan - Apr 13 Budget Variance % of YTD Budget 2013 Budget

Ordinary Income/Expense

Income

1502 · Interest Income 438.69 445.00 6.31- 98.6% 3,000.00

1503 · Application Fees 25,800.00 27,000.00 1,200.00- 95.6% 60,000.00

1510 · Affiliate Sponsorship 0.00 0.00 0.00 0.0% 0.00

1511 · Gift Card Sponsor Income 200.00 0.00 200.00 100.0% 0.00

1515 · Member Benefits Partner Program 825.00 0.00 825.00 100.0% 0.00

1520 · Late Fees 6,555.00 11,000.00 4,445.00- 59.6% 11,000.00

1524 · Annual Key Maintenance 2,396.00 2,300.00 96.00 104.2% 31,500.00

152513 · HAAR Dues 2013 182,922.21 159,840.00 23,082.21 114.4% 159,840.00

1526 · Rent Income - MLS 27,000.00 27,000.00 0.00 100.0% 81,000.00

1527 · Education Income 25.00- 100.00 125.00- 25.0%- 11,600.00

1527.1 · Orientation Income 1,300.00 1,350.00 50.00- 96.3% 4,125.00

15291 · Banquet Sponorships 11,780.00 15,000.00 3,220.00- 78.5% 15,000.00

1530 · Misc Income 2,952.43 1,000.00 1,952.43 295.2% 1,000.00

1531 · Building Rental Income 2,660.00 2,500.00 160.00 106.4% 4,000.00

1533 · REALTOR Expo 0.00 0.00 0.00 0.0% 11,480.00

1535 · ARPAC Event Income 0.00 0.00 0.00 0.0% 15,000.00

15351 · Arbitration/Mediation Fees 250.00 250.00 0.00 100.0% 1,500.00

1538 · Maps Income 388.80 193.75 195.05 200.7% 350.00

1539 · GMM Luncheon Income 7,439.98 7,650.00 210.02- 97.3% 22,789.00

1546 · Royalties from NALMLS 9,060.00 8,640.00 420.00 104.9% 34,560.00

1547 · POC from NALMLS 18,675.00 18,000.00 675.00 103.8% 72,000.00

1552 · KeyBoxes 17,220.00 17,100.00 120.00 100.7% 44,625.00

1553 · Supra Activekey Car Charger 50.00 100.00 50.00- 50.0% 375.00

1554 · Supra Ekey Fob 2,220.00 2,200.00 20.00 100.9% 3,000.00

1555 · Supra Replacement Key Container 55.00 60.00 5.00- 91.7% 100.00

1556 · Supra IPhone Adapter 1,298.00 1,420.00 122.00- 91.4% 7,080.00

Total Income 321,461.11 303,148.75 18,312.36 106.0% 594,924.00

Gross Profit 321,461.11 303,148.75 18,312.36 106.0% 594,924.00

Expense

1735 · Accounting 337.67 350.00 12.33- 96.5% 1,500.00

1735.1 · Audit 24,115.48 27,000.00 2,884.52- 89.3% 27,000.00

1736 · Dues & Subscriptions 1,040.00 1,100.00 60.00- 94.5% 2,000.00

1740 · Advertising 0.00 0.00 0.00 0.0% 6,120.00

1743 · ARPAC (Golden R $2000) 2,000.00 2,000.00 0.00 100.0% 2,000.00

1743.1 · ARPAC Event Expense 0.00 0.00 0.00 0.0% 12,500.00

1756 · Bank Svc Charge & CC Processing 2,400.22 3,400.00 999.78- 70.6% 6,000.00

1766 · Copier/Fax 578.42 600.00 21.58- 96.4% 1,800.00

1771 · Chamber of Commerce-HREGI (15K) 0.00 0.00 0.00 0.0% 10,000.00

1773 · Depreciation Expense 11,220.00 11,220.00 0.00 100.0% 35,000.00

1774 · Amortization Expense 244.00 244.00 0.00 100.0% 0.00

1776 · Education & Seminars 434.73 500.00 65.27- 86.9% 10,000.00

1785 · Grievance Committee 0.00 0.00 0.00 0.0% 500.00

1786 · Installation Banquet 9,406.05 15,000.00 5,593.95- 62.7% 15,000.00

1806 · Insurance 3,500.00 4,000.00 500.00- 87.5% 5,000.00

1825 · Hospitality 0.00 0.00 0.00 0.0% 1,000.00

18271 · Lockbox-SUPRA 3,979.21 4,000.00 20.79- 99.5% 40,000.00

18272 · Lockbox Buyback 1,850.00 1,950.00 100.00- 94.9% 5,000.00

Page 5 of 9

HUNTSVILLE AREA ASSOCIATION OF REALTORS

Profit & Loss Budget vs. Actual January through April 2013

Jan - Apr 13 Budget Variance % of YTD Budget 2013 Budget

18275 · EKey Fob 1,637.98 1,000.00 637.98 163.8% 1,000.00

18276 · IPhone Adapter 824.54 1,000.00 175.46- 82.5% 6,500.00

1831 · Legal 300.00 300.00 0.00 100.0% 4,000.00

1838 · Member Profitability 0.00 0.00 0.00 0.0% 1,000.00

1839 · Member Relations 2,361.09 2,000.00 361.09 118.1% 2,000.00

1840 · Governmental Affairs 800.00 800.00 0.00 100.0% 15,000.00

1843 · Membership Meetings 2,254.51 2,500.00 245.49- 90.2% 19,000.00

1845 · Office Expense/Supplies 913.86 950.00 36.14- 96.2% 5,460.00

1846 · Open House 0.00 0.00 0.00 0.0% 5,000.00

1847 · Business Meetings 810.44 870.00 59.56- 93.2% 4,500.00

1848 · Network Server Maintenance 1,483.75 1,470.00 13.75 100.9% 4,160.00

1850 · Postage 574.42 1,168.00 593.58- 49.2% 3,500.00

1853 · Professional Standards Comm 0.00 0.00 0.00 0.0% 500.00

1854 · REALTOR Expo Expense 0.00 0.00 0.00 0.0% 7,750.00

1855 · Printing 0.00 0.00 0.00 0.0% 1,500.00

18560 · Security System 186.00 186.00 0.00 100.0% 960.00

18561 · Janitorial Services 2,041.63 3,140.00 1,098.37- 65.0% 10,620.00

18562 · Landscaping & Lawn Care 1,466.00 1,360.00 106.00 107.8% 4,080.00

18563 · Pest Control 652.04 638.00 14.04 102.2% 1,576.00

18564 · Electrical 440.64 475.00 34.36- 92.8% 1,000.00

18565 · Plumbing 0.00 0.00 0.00 0.0% 500.00

18566 · Heat & A/C 1,015.10 1,025.00 9.90- 99.0% 2,296.00

18568 · Repairs and Maintenance 741.33 850.00 108.67- 87.2% 2,850.00

18569 · Waste Dumpster Services 312.00 312.00 0.00 100.0% 1,236.00

1861 · Special Projects 0.00 0.00 0.00 0.0% 1,000.00

1864 · Orientation 1,299.06 1,350.00 50.94- 96.2% 4,125.00

1865 · Service from MLS 80,588.32 80,588.32 0.00 100.0% 241,765.00

1866 · Tax Penalty 57.00 0.00 57.00 100.0% 0.00

1867 · Strategic Planning 3,333.34 3,000.00 333.34 111.1% 3,000.00

1870 · Taxes - Property 0.00 0.00 0.00 0.0% 14,450.00

1873 · Travel 4,706.14 6,100.00 1,393.86- 77.2% 53,763.00

1874 · Telephone 1,000.00 1,120.00 120.00- 89.3% 3,360.00

1880 · Utilities 6,268.81 7,332.00 1,063.19- 85.5% 22,000.00

1892 · Miscellaneous 0.00 0.00 0.00 0.0% 1,000.00

1990 · Provision for Income Tax 0.00 0.00 0.00 0.0% 16,000.00

Total Expense 177,173.78 190,898.32 13,724.54- 92.8% 646,871.00

Net Ordinary Income 144,287.33 112,250.43 32,036.90 128.5% 51,947.00-

Net Income 144,287.33 112,250.43 32,036.90 128.5% 51,947.00-

Page 6 of 9

HUNTSVILLE AREA ASSOCIATION OF REALTORS

Profit & Loss Budget Overview January through December 2013

Jan - Dec 13

Ordinary Income/Expense

Income

1502 · Interest Income 3,000.00

1503 · Application Fees 60,000.00

1510 · Affiliate Sponsorship 0.00

1520 · Late Fees 11,000.00

1524 · Annual Key Maintenance 31,500.00

152513 · HAAR Dues 2013 159,840.00

1526 · Rent Income - MLS 81,000.00

1527 · Education Income 11,600.00

1527.1 · Orientation Income 4,125.00

15291 · Banquet Sponorships 15,000.00

1530 · Misc Income 1,000.00

1531 · Building Rental Income 4,000.00

1533 · REALTOR Expo 11,480.00

1535 · ARPAC Event Income 15,000.00

15351 · Arbitration/Mediation Fees 1,500.00

1538 · Maps Income 350.00

1539 · GMM Luncheon Income 22,789.00

1546 · Royalties from NALMLS 34,560.00

1547 · POC from NALMLS 72,000.00

1552 · KeyBoxes 44,625.00

1553 · Supra Activekey Car Charger 375.00

1554 · Supra Ekey Fob 3,000.00

1555 · Supra Replacement Key Container 100.00

1556 · Supra IPhone Adapter 7,080.00

Total Income 594,924.00

Gross Profit 594,924.00

Expense

1735 · Accounting 1,500.00

1735.1 · Audit 27,000.00

1736 · Dues & Subscriptions 2,000.00

1740 · Advertising 6,120.00

1743 · ARPAC (Golden R $2000) 2,000.00

1743.1 · ARPAC Event Expense 12,500.00

1756 · Bank Svc Charge & CC Processing 6,000.00

1766 · Copier/Fax 1,800.00

1771 · Chamber of Commerce-HREGI (15K) 10,000.00

1773 · Depreciation Expense 35,000.00

1774 · Amortization Expense 0.00

1776 · Education & Seminars 10,000.00

1785 · Grievance Committee 500.00

1786 · Installation Banquet 15,000.00

1806 · Insurance 5,000.00

1825 · Hospitality 1,000.00

18271 · Lockbox-SUPRA 40,000.00

18272 · Lockbox Buyback 5,000.00

Page 7 of 9

HUNTSVILLE AREA ASSOCIATION OF REALTORS

Profit & Loss Budget Overview January through December 2013

Jan - Dec 13

18274 · ActiveKey Car Charger 0.00

18275 · EKey Fob 1,000.00

18276 · IPhone Adapter 6,500.00

1831 · Legal 4,000.00

1838 · Member Profitability 1,000.00

1839 · Member Relations 2,000.00

1840 · Governmental Affairs 15,000.00

1843 · Membership Meetings 19,000.00

1845 · Office Expense/Supplies 5,460.00

1846 · Open House 5,000.00

1847 · Business Meetings 4,500.00

1848 · Network Server Maintenance 4,160.00

1850 · Postage 3,500.00

1853 · Professional Standards Comm 500.00

1854 · REALTOR Expo Expense 7,750.00

1855 · Printing 1,500.00

18560 · Security System 960.00

18561 · Janitorial Services 10,620.00

18562 · Landscaping & Lawn Care 4,080.00

18563 · Pest Control 1,576.00

18564 · Electrical 1,000.00

18565 · Plumbing 500.00

18566 · Heat & A/C 2,296.00

18567 · Ice Maker 0.00

18568 · Repairs and Maintenance 2,850.00

18569 · Waste Dumpster Services 1,236.00

1861 · Special Projects 1,000.00

1864 · Orientation 4,125.00

1865 · Service from MLS 241,765.00

1867 · Strategic Planning 3,000.00

1870 · Taxes - Property 14,450.00

1873 · Travel 53,763.00

1874 · Telephone 3,360.00

1880 · Utilities 22,000.00

1892 · Miscellaneous 1,000.00

1990 · Provision for Income Tax 16,000.00

Total Expense 646,871.00

Net Ordinary Income 51,947.00-

Net Income 51,947.00-

Reserves Goal 646,871.00

Reserves Amount 615,303.00

Difference 31,568.00 away from goal

95% of goal has been meet

Page 8 of 9

HUNTSVILLE AREA ASSOCIATION OF REALTORS

Background Information

for 2013

HAAR Membership Count: Projected Dues Income 90% retention

As of May 1, 2013: 1533 Primary Realtors and Designated Realtors 165,834.00$ 149,250.60$

Other Notes Member Count for HAAR as of 6/2/2013

Number of members who terminated since 2012 0 Active Primary Realtor/DR 1545

Number of members who went inactive since 12/31/2012 130 Active Affiliates 79

Number of members on medical/military leave in 2013 1 Member Benefits Partner 12

Active Primary Realtor/DR count as of 12/31/2012 1571

Active Primary Realtor/DR count as of 5/1/2013 1533 Member Count for NALMLS as of 5/24/2013

Suspended Realtor/DR as of 5/1/2013 1 Active Realtor/DR 2310

Member Benefits Partner as of 5/1/2013 10 Suspended Realtor/DR 11

Active Affiliates as of 5/1/13 76 Active Affiliates 41

Renewable Contracts: Purpose Term Expires 2013 Amount

UTC (formerly Supra) - Income ActiveKEY 6 years 2/1/2015 ActiveKEY $21/holder annually

UTC (formerly Supra) - Income eKEY 6 years 2/1/2015 eKEY $2/holder monthly

UTC (formerly Supra) - Expense Lockboxes 6 years 2/1/2015 $89 new / $69 refurb + s/h & tax

UTC (formerly Supra) - Expense Lockbox key container assembly 6 years 2/1/2015 $9.30 + s/h & tax

UTC (formerly Supra) - Expense iPhone adapter 6 years 2/1/2015 $49.95 + s/h & tax

UTC (formerly Supra) - Expense eKEY fob 6 years 2/1/2015 $49.95 + s/h & tax

Chamber of Commerce Chamber website annually 12/1/2012 1,470.00$

Chamber of Commerce HREGI 5/1/2012 10,000.00$

Elavon Credit card processor 3 year 4/1/2015 $66 base fee + % on card type (1.39% - 3.21%)

AON Insurance Professional Liability insurance annually 4/1/2014 4,600.00$

C.N.A. Insurance Building insurance annually 6/1/2013 1,679.00$

Frank Riddick Governmental Affairs annually annually 12,000.00$

Guardian Storage Unit offsite storage monthly monthly 2,460.00$

Intermedia Exchange Email & shared calendar hosting. Shared w/ NALMLS annually 2/1/2014 936.48$

Professional Security System quarterly monitoring 3 year 5/31/2015 372.00$

Jani-King janitoral service monthly monthly 5,820.00$

Elite Pest Control monthly pest control service annually 8/1/2013 900.00$

Cooks Pest Control quarterly termite service annually 11/1/2013 676.00$

Conditioned Air Solutions quarterly preventive maintenace on air units annually 8/1/2013 3,888.00$

Fish Window Cleaning quarterly window cleaning service quarterly quarterly 600.00$ cancelled

Koorsen Fire Protection annual fire extinguisher inspection annually 4/1/2014 $150 basic charge

NALMLS Intercompany services & allocation of salaries annually 1/1/2014 20,147.08$

NALMLS - POC Point of contact fee & royalties annually 1/1/2014 POC will start in 2013

Huntsville Utilities monthly monthly monthly $1800 average

Waste Away monthly monthly monthly 936.00$

Superior Trimmers monthly monthly monthly 4,080.00$

Captial Items Purchased: Amount Purchased Date

Non Budgeted Items Purchased: Amount Vendor Purchased Date

Transfers from Reserves Date Purpose