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www.mywentworth.com [email protected]
Agenda
• Opening Remarks
• Review Highlights from 2006 AGM
• 2006 Financial Highlights
• New Business
– Maintenance Contractor Selection
– 2007 Budget Highlights
– Nominations, Volunteers
• Directors
• Auditor
– Questions
www.mywentworth.com [email protected]
The WRA Board of Directors
• Directors: Janet WelshJames Waddock Sharleen Traynor Sean Reily
• Secretary: Sandra Burns
• Treasurer: Greg Leusink
• President: Brian Wilson
www.mywentworth.com [email protected]
March 2006 AGM• Held on March 14 2006• 22 residents in attendance, along with
3 rep’s from Dundee• Meeting Highlights:
– Review by Dundee of Residents Association purpose, scope
– Ongoing work, obligations by Dundee in 2006
– Financial position
– Election of a new board of directors; resignation of the Dundee board
– Brief discussion around commercial development in the area
www.mywentworth.com [email protected]
Assets $5,314 Cash $8,088 GIC $9,800 Fees Receivable $1,132 Prepaid
Insurance $13,000 Land ---------------------------------------------
$37,334 Total Assets
Liabilities $1764 Mtce. Invoice $ 489 Administration $107 Property Tax
---------------------------------------------$2,360 Total Liabilities
Equity $35,106
2006 Financial HighlightsReceipts $29,800 Fees received
287 of 365 homes invoiced (79%) 12 payments from 2005
$307 GIC interest income -----------------------------------
$30,107 Total Receipts
Disbursements $23,862 Maintenance costs $2,038 Insurance $100 Property Tax $250 2005 Audit $169 Bank Fees $738 Administration
-----------------------------------$27,157 Total Disbursements
Net Surplus $2,950
www.mywentworth.com [email protected]
Area Maintenance Proposals
• WRA sought competitive proposals in January 2007 from 4 service contractors
• 3 proposals received in February (one declined to submit)• Negotiations commenced with 2 lowest bidders on an equal service
basis; resulted in award to Foothills Landscaping; • Services commence April 1• Development & execution of a Landscape Maintenance Agreement
with City of Calgary underway – some funding available
WRA will endeavour to hold fees at new rate of $200 for some years to come
• Services provided by Clarke Property Service throughout 2006, principally administered by Dundee as area FAC process advanced
www.mywentworth.com [email protected]
2007 Budget HighlightsExpense Estimates
$47,000 Base Services $5,000 Plantings $3,000 Snow Removal $2,300 Administration---------------------------------------
$56,500 Total Expenses
Revenue Projection
400 houses x $200 x 80% collection = $64,000 50 houses x $100 x 80% collection = $4,000 (mid year move-ins)
2007 Projected Net Surplus
$11,500
Sufficient surplus to provide contingency
and to consider area enhancements
www.mywentworth.com [email protected]
Call for Volunteers
• Don’t just be informed, be involved• 4 (four) new Director positions
available on Board for several special committees:– Communications, web support
– Fund Raising (e.g. tot lot, additional amenities)
– Landscape planning & design
– Special events, social activities
• Requirement for Auditor
It’s our Association to structure as we please!
www.mywentworth.com [email protected]
Moving Forward
• Working with the Association• How to Reach Us
– Email (website contact form)
– Directors
• Bring us your ideas• By-law Infractions & Restrictive
Covenants