Point Aquarius POA Annual Meeting

POINT AQUARIUS PROPERTY OWNERS ASSOC. ANNUAL MEETING2012

April 28, 2012

PRESIDENT’S REPORT

2012 POA Annual Meeting

• THANKS for being here today!

• A special “thanks” to the 2011 Board of Directors

• We look forward to working with the 2012 Board



• Drought presented many challenges

- for roads- for tree removal- for ramp repair- for marina repair

• Improvements in Communicating with Assoc. Members

- New, improved website - Email Blasts

Register thru the website or with the POA office



• • Playground Committee

- Committee Members Needed- Donations Needed- Funds will be dedicated only to playground equipment

INTRODUCTIONS


• Steve Durham - Owner

Investment Management Co.

• Jeri Harness - our Property ManagerInvestment Management Co.

• Bryan Fowler - our attorney The Fowler Law Firm

TREASURER’S REPORT THRU DEC 2011


Budget Report

2011 Budget 2011 Actual Difference% Actual to Budget with 100% of Year

Complete

Income

POA Total 755,650 750,876 -4,774 99.4%

Section 5 Amenities Total 10,870 8,303 -2,567 76.4%

Section 7 Marina Total 31,990 31,842 -148 99.5%

Total Income $798,510 $791,021 -$7,489 99.1%

Expenses

POA Total 738,149 782,955 44,806 106.1%


Section 7 Marina Total 22,200 23,059 859 103.9%

Total Expenses $776,309 $813,261 $36,952 104.8%



Cash

12/31/10 12/31/11

Bank Accounts

POA 286,285 234,663

Section 5 Amenities 24,141 27,314

Section 7 Marina 43,313 59,578

Cash in Bank $353,739 $321,555

Less Liabilities -35,450 -19,700

Less Contingency Fund (15% of Expense Budget) -107,879 -116,446

Available Cash $210,410 $185,409



Prior Years Comparison

2009 2010 2011

Income 851,121 848,415 791,021

Expenses -789,060 -789,584 -813,261

Difference $62,061 $58,831 -$22,240

Note: Records are available for inspection by Members when

requested in writing. A request form is available at the office.

TREASURER’S REPORT THRU MARCH 2012


Budget Report

TOTAL POA 2012 Budget 2012 Actual Difference% Actual to

Budget with 25.0% of Year Complete

Income

POA Total 742,850 610,369 -132,481 82.2%


Section 7 Marina Total 31,840 30,818 -1,022 96.8%

Total Income $783,060 $647,663 -$135,397 82.7%

Expenses

POA Total 737,904 113,902 -624,002 15.4%


Section 7 Marina Total 34,565 7,554 -27,011 21.9%

Total Expenses $780,494 $123,123 -$657,371 15.8%



Cash Flow Projection

Bank Accounts

POA 707,035

Section 5 Amenities 32,123

Section 7 Marina 82,843

Total Checking/Savings $822,001



Additional Receipts

POA 132,481

Section 5 Amenities 1,894

Section 7 Marina 1,022

Total Additional Receipts $135,397



Additional Payments

POA -624,002

Section 5 Amenities -6,358

Section 7 Marina -27,011

Sub Total -$657,371

Liabilities -18,300

Total Additional Payments -$675,671



Cash $281,727

Contingency Fund ($780,494 x 15%) -$117,074

Available Cash in Bank at 12/31/12 $164,653

MANAGER’S REPORT….POA/COLLECTIONS


• We are keeping on top of PAST DUE assessments. Since this time last year, we have collected:

- $572,010.00 for 2012 assessments - $ 78,794.00 in prior years assessments

• 10 residents taken to small claims court and judgments received

•3 judgments from last year paid off to facilitate property sale

•$7,200.00 collected in property transfer fees48 parcels changed hands

this is down 50% from the prior year

MANAGER’S REPORT….POA/COLLECTIONS


• THANKS to all volunteers who helped

with ballots and envelopes stuffing

• Many changes to the rules and regulations for HOAs in Texas

• Copies of changes affecting our By-Laws are in your ballot packet - Call the POA office next week with

any questions.

MANAGER’S REPORT….DEED RESTRICTIONS


New Violations 397Cleared Violations 359Registered Letters 100$ 50.00 fines 21$100.00 fines 8$150.00 fines 3$200.00 fines 1$250.00 fines 1$300.00 fines 0

MARINA COMMITTEE REPORT….PEGASUS BOAT RAMP


• 2011 Water Levels kept boating to a minimum

• Looking forward to a GREAT 2012 boating season with lake nearly at pool

• Pegasus Boat Ramp Repair- Lake level receding caused major damage- 30 feet of the ramp removed and replaced- High density fill used below pavement and side footings- We project 30+ years of service from the new ramp- New cross-bracing added to the dock; restained- We will reposition NO WAKE buoys for swim area

MARINA COMMITTEE REPORT…..SECTION 7 MARINA


• The Section 7 Marina is open for business

• Project List for 2012

- Repair and upgrade electrical service to the docks

- Make repairs caused by low water levels as needed

- Power wash and re-stain docks

- Re-position NO WAKE buoys

- Paint the marina sign and tower

NEIGHBORHOOD WATCH COMMITTEE


• Meetings in 2011 showed very little interest

• Will try again before school is dismissed for summer

ROADS REPORT … PAST BUDGET YR


• Major activity was the repair/replacement of the outbound side of PA Blvd.

• Drought necessitated many emergency repairs (for example, Aries Loop)

• Projects completed so far this budget year:- Pavement drop on P.A. Blvd. between Antares and Lyra- Sagittarius West near the sewer treatment plant – pavement

failure- PA Blvd. at Gemini to replace the asphalt in the median and

concrete the intersection to level up the roadway

ROADS REPORT … UPCOMING PROJECTS


- PA Blvd and Antares – Level up and replace the intersection- PA Blvd and Constellation Cir – Road failure to Constellation Cir- Cygnus Ct - repair the tee- Gemini – road surface failing and curb/gutter drop- Sagittarius E – approximately 80 feet of road failure

• Priority will be given based on safety and long-term value of repairs

• Consistent rainfall would be helpful!

• Projects currently under bid and/or budget review:

POOLS REPORT


• No significant issues with either pool this past year

• Routine maintenance continued. A few warranty issues handled.

• Issues delayed due to budget constraints

- Resurfacing of the Pegasus pool- Repairing the deck of the Constellation Cir pool

(An estimate 3 years ago was $27K)

COMMONS & BEAUTIFICATION REPORT


• TreeGators around median trees at the entrance during drought

• New island in kitchen at Community Center

• Replaced exterior of PA tower by Pegasus boat ramp

• Fences around both pools repaired & painted

• Replaced 30 wax myrtles at entrance

COMMONS & BEAUTIFICATION REPORT


• Sprayed ponds for Alligator Weed

• Maintenance of flower bed

• Pick up after your dog!’ signs

• Mowing contract is being reviewed

TREE REMOVAL


• 61 trees removed from the commons area

• Next allotment of trees being removed now

ARCHITECTURAL CONTROL COMMITTEE


May 1, 2011 thru April 30, 2012

Since Last April's Meeting, 66 Projects have been submitted,

25 of those in 2012.

New Homes 12

Home Additions 2

Storage Facilities 5

Fences 19

Boat Houses/Docks 1

Pools/Spas 3

Decks/Patios14 10

Driveways 7

Miscellaneous 7

ARCHITECTURAL CONTROL COMMITTEE


Status of Projects

Completed 50

Not Started 3

Under Construction 11

Rejected 0

Expired (over 1 year) 2

Point Aquarius POA Annual Meeting

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