Post on 30-Dec-2015
description
Title
Wentworth Residents’ Association
Annual General Meeting
April 2, 2009
www.mywentworth.com info@mywentworth.com
Agenda
• Opening Remarks
• Review Highlights from 2008 AGM
• 2008 Financial Highlights
• New Business
– 2009 Operating Budget
– 2009 Planning
– Nominations & Elections for Directors
– Open Floor for General Membership Discussion
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The WRA Board of Directors
• Directors: Liana Zingle Greg Leusink
David Klug
Vacant
Vacant
• Secretary: Vacant
• Treasurer: Derek Lynn
• President: Vacant
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March 2008 AGM
• Held on March 12 2008
• 15 residents in attendance
• Meeting Highlights:
– Review of financial position
– Acquisition of area maintenance &
landscaping services
– General call for volunteers to serve as
directors
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2008 Financial Review
Highlights
Financial position is sound
Current cash balance minus accounts payable is $31,000
2008 actual surplus was $3,000 less than budgeted due to higher than budgeted maintenance fees
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2008 Financial Review
2008 Budget
2008 Actual
Difference
Revenue $74,000 $74,150 $150
Expenses $65,200 $68,484 $3,284
Net Surplus $8,800 $5,866 -$3,134
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2008 Revenue Detail
• Invoiced $96,800• Received payments of $70,000 for current year fees• Received payments of $4,150 from previous years• Total revenue $74,150• Payment rate 72%
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2009 New Business
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2009 Budget OutlookExpense Estimates
$49,500 Base Services $8,000 Plantings $8,000 Snow Removal $1,400 Insurance $100 Property Tax $3,000 Administration (invoicing)---------------------------------------
$65,000 Total Expenses
Revenue Projection
500 houses x $200 x 70% collection = $70,000
2008 Projected Net Surplus
$5,000
Sufficient cash flow to provide contingency and to consider area enhancements without further Fee increase in 2009
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Association Plans for 2009
• Landscape Maintenance Agreement recently executed with City of Calgary, permits collection of allocated funds from City maintenance budget
• Impose a $50 yearly administration fee for all late payments
• Continuation of maintenance services through Foothills
Landscaping
• Addition of area amenities (trash cans, benches)
• Increase focus on plantings (expanded beds, seasonal
bulbs)
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Call for Directors
• 2 year terms expiring for several board
members
• Association requires several candidates
for specific executive functions:
– Secretary
– President
• 2 year terms
• Floor open for nominations & voting
www.mywentworth.com info@mywentworth.com
Moving Forward
• Working with the Association• How to Reach Us
– Email (website contact form)
– Directors
• Bring us your ideas
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Questions? Concerns?Comments?