WISSLER RANCH HOAAnnual Meeting – 2014

1. Welcome

2. Board Members

3. Agenda

4. Board Positions

5. Questions/New Business

6. Adjourn

Welcome!WR HOA Board Members:• Brian Freese, President• Jack Windeler, Vice President• Wayne Gardner, DRC• Eric Doremus, Landscape,

Maint., Covenant Committee• Lisa Gilbert, Water Committee• Jim Keefe, Secretary• Deloris Kenerson • Kathleen McCormick, Treasurer

(non-board position)

Committee officers• Sandy Maurer – Welcome • Gerry Major – Neighborhood

Watch

Agenda1. Roll call/certify proxies

2. Proof of notice of meeting

3. Review/approve 2013 Annual Report minutes

4. Officer/Committee Reports

5. Election of Directors

6. Unfinished business

7. New business

8. Adjourn

Officer/Committee Reports

• Design & Review Committee (DRC)

• Budget

• Landscape & Maintenance

• Forestry

• Legal Affairs

• Water

• Covenants

2014 Design Rule Committee

• One detached garage approved

• One storage building approved

• New mailbox structure: plans approved, permit obtained, work being scheduled

• Mailbox parking area: plans in approval cycle, bid solicitation and construction plans will follow

Treasurers Report

Basic Financial Information• Wissler Ranch HOA is not for profit – not tax exempt

– IRS exempts income when 60% comes from assessments and 90% is spent on maintenance of common property otherwise subject to standard taxes

• Income comes almost exclusively from annual assessments 180 x 33 = 23,940 Due February 15th

• WR HOA owns capital assets of approximately $130,000 and has a replacement reserve fund of $66,737– Major repair and replacement of mail box structure, cisterns, wind mill, trail,

parking lot, playground equipment, picnic tables and benches, entrances

• Annual budget ratified by the membership at Budget Meeting Board formulates the budget and provides copy in advance to membership Budget meeting will be in January, look for budget mailing Forward recommendations to board members in Nov/Dec

• By-laws require Board and Treasurer to effect annual review of books by certified or public accountant Outsized expense of review in relation to annual budget – develop

alternative

Operating Fund

Firewise Fund

Total Operating

Fund

Capital Reserve

Fund Total

AssetsCash Operating 16,216 2,940 19,156 19,156 Cash Reserves - 62,400 62,400 Assessments receivable, net of allowance for bad debts of $3,800 - - Prepaid Expenses - - Deposits - -

Total Assets 16,216 2,940 19,156 62,400 81,557

- Liabilities -

Accounts payable 1,427 1,427 - 1,427 Accrued Expenses 4,067 1,000 5,067 8,600 13,667 Prepaid Assessments - - - Income taxes payable - - -

Total Liabilities 5,494 1,000 6,494 8,600 15,094

Fund Balance 10,722 1,940 12,662 53,800 66,463

Wissler Ranch Homeowners Association Balance Sheet

Total Operating

Budgeted YTD Budgeted YTD Difference Budgeted YTD Difference

IncomeAnnual Assessment (homeowner dues $23,940) 22,440 22,245 1,500 1,500 (195) Annual Assessment Paid Forward - Past Due Assessment - Late Fees and Interest 152 152 Legal Fees - Water Overage Fees 512 512 Other -

Total Income 22,440 22,909 1,500 1,500 469 - - -

Reserve Fund 1,440 1,440 - 66,737 66,737 - Unallocated Cash Carried Forward 644 1,683 1,039

Total Funds Available 22,440 22,909 2,940 2,940 469 67,381 68,420 1,039

ExpensesOperating

Administrative (supplies, mailings, web services registrations) 900 605 (295) Accounting and Tax Preparation 250 170 (80) Common Area Maintenance and Entrance Mowing 4,997 5,759 762 Common Area Forest Fire Mitigation - Community Affairs 600 266 (335) Entrance Landscaping and Maintenance 2,768 1,427 (1,341) Forest Service Inspection 1,000 (1,000) Insurance 1,500 (1,500) Legal Fees 2,500 1,181 (1,320) Management Reserve 3,200 (3,200) Snow Removal 500 - (500) Taxes - - Utilities (street, entrance and mail box lights) 3,200 2,439 (761) Water Augmentation Plan 1,875 (1,875) Welcome Committee 150 59 (91)

Capital BudgetCistern InspectionCistern Replacement* 15,000 Entrance and Mailbox Lighting Update and Repair 2,500 - (2,500) Entrance Log Stabilization and Repair (Emergency) 2,446 2,446 Mailbox Bulletin Board Replacement 1,500 - (1,500) Mailbox Structure Improvements and Parking Pad^ 20,000 3,584 (16,416)

Wind Mill Motor Repair 1,000 - (1,000)

Total Expenses 22,440 11,904 1,000 - (11,536) 25,000 6,030 (18,970)

Balance - 11,005 1,940 2,940 12,005 42,381 62,390 20,009

Operating Fire Wise Capital Reserve

2014 Income and Expense Statement

Operating Fire Wise Capital

Reserve

Income

Annual Assessment (homeowner dues $21,945) 19,945 500 1,500

Annual Assessment Paid Forward

Past Due Assessment

Late Fees and Interest

Legal Fees

Water Overage Fees

Other

Total Income 19,945 500 1,500

Reserve Fund 42,381

Unallocated Cash Carried Forward 1,940

Total Funds Available 19,945 2,440 43,881

Expenses

Operating

Administrative (supplies, mailings, web services registrations) 900

Accounting and Tax Preparation 200

Common Area and Entrance Maintenance 5,500

Common Area Forest Fire Mitigation

Community Affairs 600

Entrance Landscaping and Maintenance

Forest Service Forest Health Inspection 1,000

Insurance 1,500

Legal Fees 3,000

Management Reserve 2,520

Snow Removal 500

Taxes

Utilities (street, entrance and mail box lights) 3,200

Water Augmentation Plan 1,875

Welcome Committee 150 Capital Budget

Cistern Inspection

Cistern Replacement* 15,000

Entrance and Mailbox Lighting Update and Repair

Entrance Log Stabilization and Repair (Emergency)

Mailbox Bulletin Board Replacement

Mailbox Structure Improvements and Parking Pad^

Wind Mill Motor Repair

Total Expenses 19,945 1,000

Balance - 1,440 43,881

2015 Notional Budget

Landscape & Maintenance 2014 Accomplishments

• Two mows completed

• Entrance fencing repaired and stained

• Chain harrow purchased and used to smooth the path and ball field

• Ball field seeded twice

• Path sprayed for weeds

• Fields sprayed for weeds

• Bucket seat installed on the swing set structure

Landscape & Maintenance (cont’d) Projects Planned for 2015

• Continue monthly mowing – three or four mows required

• Path and field weeding planned

• Cistern inspections

• Ball Field seeding

• Path maintenance with possible additional fill added

• Entrance fence inspection

• Windmill repair

• Attach windmill pump to cover

Neighborhood Issues• Crime: National Night Out in

August, 2014.

• Annual Firewise meeting – held concurrently with National Night Out meeting in August

• Fire Concerns– Accidental ignition– Lightning– Arson– Flying embers

Forestry

• 2013 Forestry inspections – two pine beetle trees removed

• 2014 Forestry inspections – October 28, 29, 2014

Legal Affairs• Discussions on how to revise and

legally adopt updated covenants

• Wissler Ranch By-Laws were reviewed and updates proposed. Revised By-Laws to be voted on by membership.

• Covenant review/revisions will be addressed by the next Board

Water Committee• 2013 Readings Recorded

• 4 Overage Letters sent

• 2013 Report Filed with Colorado Division of Water Resources

• Converted 2014 Reporting to Electronic Reporting

• Compiling 2014 Readings

• Attended Great Divide Water Meeting - October 10th

• Dues increase ~$225 / year total for Wissler Ranch

Covenants Report• Main Complaints:

– Poultry covenant violation: Variance request could not be voted due to split Board. New Board elected for 2014 tabled the decision pending review and update of Wissler Ranch Covenants. Defendant and chickens moved out of the community

• Please read your covenants before you plan a project and obtain DRC approval before starting a project.

Board Positions

• Wayne Gardner running for re-election

Questions? New Business?

• Revised Bylaws vote

• Your input is important!