The Stepping Stone Association Annual Meeting of Members March 6, 2012

Stepping Stone Annual Meeting

The Stepping Stone Association Annual Meeting of Members

March 6, 2012


Agenda

• Welcome and Introduction of Board Members

• Review Stepping Stone Property

• 2011 Accomplishments

• Landscaping Update

• Barn Update

• Financial Update

• Social Committee Update

• 2012 Plans

• Architectural Review Board Update

• Mail Box Painting Proposal

• Resident Concerns

• Election of new Board Members

• Provide New Directories


2011 Board Members and Officers Board Members

Dan Strait - PresidentScott Fitzgerald - TreasurerMichelle Slisher – ARB

OfficersSusie StraitJennifer Stouffer, Social Lisa Dawes, SocialSandy Sanford, BarnPam Benson, BarnTrisha Jordan, Neighborhood LiaisonLisa Warner, Neighborhood Liaison


Stepping Stone Review

What we own:

12.725 acres Large pond An additional 5.991 acres at the barn (18.716 acres total).

In 2011 we leased an additional 5 acres for pasture. 13 stalls Indoor and Outdoor Riding Arenas Conference Room Two Bedroom Apartment


2011 Accomplishments

• The Neighborhood Street Signs were repainted and improved Routine Maintenance and Upkeep of Grounds,

Barn and Apartment Community Newsletter and Directory Community Social Events

• Barn Improvements A shed was added which allowed for expansion of

the Tack Room and the addition of stalls. This should increase our revenue.

Drainage issues were addressed Barn and Apartment Maintenance


Landscaping Update

- Maintenance, Flowers, Repairs and Pond Management Our landscape contractor, Brinkman, continued routine annual

maintenance including planting spring and fall annuals and providing holiday decorations.

Brinkman planted pine trees free of charge to replace pine trees damaged by a DuPont herbicide.

We signed a 2 year lease renewal with Brinkman Regular maintenance of lighting on roadway at entrance Regular maintenance of pond


Barn Update

- Maintenance and Projects The shed allowed for an expansion of stalls and improved Tack Room Lindsay signed a two year lease in December Regular maintenance of barn and surrounding land


Stepping Stone HOA Financial Review

Revenue 2011 2010

Assessments $ 43,034 $ 41,063

Apt. Rental 7,140 7,020

Barn Rental 20,465 18,615

Barn Electric

Misc. Income

2160

1025 650

Total Revenue $ 73,824 $ 67,348


Stepping Stone HOA

Barn Expense/Apartment Exp 2011 2010

Capital Improvements $ 9,856 $ 5,676

Barn Insurance 2,442 2,311

Barn Real Estate Taxes 6,470 5,938

Barn Electric 4,861 5,584

Barn Water 2,265 2,347

Barn/Apt Repair/Maint. 11,413 4,830

Total Barn Expense $37,307 $26,686


Stepping Stone HOA

HOA Expense 2011 2010

Landscape Maintenance $27,005 $27,805

Electric 5,696 4,927

Repairs/Maintenance 6,220 923

Pond Expense 2,495 2,495

Insurance 1,562 1,540

Taxes Real Estate 1840 1,689

Misc. Expense 714 519

Social Expense 624 520

Total HOA Expense $46,156 $40,418


Stepping Stone HOA

2011 2010

Revenue (HOA, Barn, Rental) $73,824 $67,348

Barn Expense 37,307 26,686

HOA Expense 46,156 40,418

Total Expense $83,463 $67,104

Profit (Loss) $ (9,639) $244

Income Statement


Stepping Stone HOACheckbook Balance

Ledger Balance 12/31/10 $ 15,262

Ledger Balance 12/31/11 $ 5,024

Change $(10,238)


The Barn / Apartment– Financial Update

2011 2010

Apartment Rental $ 7,140 $7,020

Stable Rental 20,465 18,615

Electric Refund

Barn Income

2,160

29,765

None

25,635

Barn Expense 37,307 26,686

Profit (Loss) $ (7,542) $(1,051)


Summary of 2011 Stepping Stone HOA Financials

Revenue increased 8.5% due to increased barn revenue & HOA fees

Barn expenses increased nearly 40% predominantly due to barn additions and drainage upgrades

HOA expenses increased 14% due increase repairs & maintenance

Overall the total HOA had a loss of $(9639) TY vs. $244 profit LY

In general, the loss was largely due to barn upgrades & unusually high barn repair expenses.

2012 looks to be better year due to anticipated lower maintenance costs, lower capital improvements, and increased revenue


Social Committee Update

•Directories delivered

•Spring Egg Hunt – April 16, 2011

• Candy and goody bags provided

•Happy Hour – Friday, June 10, 2011

• Appetizers, Beer and Wine provided

•Block Party – Sat., August 20, 2011

• 30 households attended

• Games were provided by Dawes and Middlestadt families

•Halloween Party

• Entertainment provided by Peter Rushton of PT Reptiles


2012 PlansWhat we plan to do in 2012:

Fence in the South Pasture Spring 2012 Lindsay previously leased from the Cohee family of 7031 Aly Dar The Cohees raised the rent by 25% (from $400 to $500) and conveyed

that would raise the rent to $700 a month. The Cohees pay property taxes of $1,044 a year ($87 a month) and

provided no seeding or maintenance A horse grazing on the Cohee pasture was shot and killed on

December 1, 2011 Raises our monthly revenue by $400

Barn Improvements Paint cupola Replace front door Replace apartment’s privacy fence


2012 Upcoming Issues/Goals

•Continue to Improve Landscaping/Pond Management

•Work with Lindsay Yinger on strategy for barn improvements

•Look into property management company if volunteer interest continues to be low


What is the Architectural Review Board (ARB)?

Committee under the Home Owners’ Association

Monthly meetings (first Tuesday)

7:00PM at the barn

Mandate is driven by Stepping Stone covenants

Agenda driven by covenants, resident, and/or ARB member observations and requests


What is the purpose of the Architectural Review Board (ARB)?

Establish and preserve design guidelines

Ensure we maintain the character of the neighborhood

Maintain property values

Pre-approve all exterior changes and additions Additions or alterations must be submitted to ARB for prior approval

Maximum response time is 60 days Enforcement

By ARB or by the HOA Board at recommendation of ARB This may include removal of improvements and assessment of

related costs to homeowner


Which covenants are applicable to the Architectural Review Board (ARB)?

Article IV (Architectural Review), andArticle V (Protective Covenants and Restrictions)

Summary of relevant covenants distributed to all residents

Part of welcoming processfor new residents

Realtors with listings Available on Stepping Stone web site

note: the covenant language overrides the summary


Architectural Review Board (ARB)

ARB applications should be submitted for the following:

Any improvement, addition, change, or alteration visible to the exterior

any change in exterior color landscaping

land contours and gradesplans forcross sections and elevations

exterior lighting plansmail boxes, address markers and exterior ornamentation

walls, fencing and screening patios, fences, gazebos and porchesswing sets, play areas, basketball boards, and similar improvements

drawings with samples of materials and colorsvehicles, trailers, boats

antennas and dishesswimming pools


Mail Box Painting Proposal

There are many mail boxes in poor condition The mail boxes are truly front and center. They are very visible. Other communities provide a similar service and it creates a better more

uniform look to the neighborhood. The cost is low and may cost less than the resident doing the work

themselves.


Architectural Review Board (ARB) Members

Jacquie FadelMichelle SlisherAngela RichardsLisa Middlestadt

WE ARE IN NEED OF NEW MEMBERS!


Resident Concerns


Election of New Board Members

Open Nominations for Election to the Board President opens the election and asks for nominations from the floor

by asking a raise of a hand, stating name and residence address. A nomination is completed with a second

Only one individual, owner or spouse, residing at a residence may run for an elected office

Nominations are closed when no more hands are raised Nominees are Designated and Ballots Distributed for Voting

Only one vote per household. Ballots will contain the street address of said voter resident

The President (if not a nominee) will Appoint a Committee to Collect and Count Executed Ballots. If the President is a nominee for re-election, he or she will appoint a resident, at will, to supervise the vote


Election of New Board Members (cont.)

Vote Count by Appointed Committee The Vote committee is to announce the winners of the election at the

close of the Annual Meeting, but refrain from submitting the numbers of votes for each nominee

Solicit Volunteers for Officers and Committees

The Stepping Stone Association Annual Meeting of Members March 6, 2012

Documents

Transcript of The Stepping Stone Association Annual Meeting of Members March 6, 2012