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Wentworth Residents’ Association

Annual General Meeting

March 28, 2007

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


The WRA Board of Directors

• Directors: Janet WelshJames Waddock Sharleen Traynor Sean Reily

• Secretary: Sandra Burns

• Treasurer: Greg Leusink

• President: Brian Wilson


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


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


2007 New Business


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


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

James Waddock

Copy and paste spreadsheet with 2007 Budget


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!


Moving Forward

• Working with the Association• How to Reach Us

– Email (website contact form)

– Directors

• Bring us your ideas• By-law Infractions & Restrictive

Covenants


Questions? Concerns?Comments?