Willowbrook Crossing HOA2010 Annual MeetingNovember 10, 2010

Agenda

•Introductions•2010 Overview•Financial Review•2011 Improvements•2011 Nominations/Election

Introductions•HOA Board Members:

▫Richard Williams – President▫Doug McCoy – Interim Vice

President/Secretary▫Larry Whatley – Interim Treasurer

•Landscaping/Maintenance:▫Mark Davis – Property Restoration

Solutions

2010 Overview• Communication

▫ Website▫ Facebook▫ Quarterly newsletters

• Administrative Enhancements• Expense Management

▫ Reduced landscaping and legal costs• Community Improvements

▫ Sanded and repainted gazebo and arbor▫ Landscaping – trees, seasonal flowers, lighting, etc.▫ Re-graveled pathway in common area▫ Installed pet waste stations & trashcans in common areas▫ U.S. flags

• Community Events▫ Annual Garage Sale

Financial Overview• Beginning Balance – Jan. 1st, 2010

▫ $9,935• Current Balance – As of Nov. 8th, 2010

▫ Deposits - $63,234 ▫ Expenses - $43,774▫ Balance - $29,395

• Projected Closing Balance – Dec. 31st, 2010▫ $18,395 (assumes no deposits)

• Outstanding HOA Dues – ▫ Current Receivables - $29,717.48 (Does not include 2010 late fees)

▫ 46 of 259 homes owners have a balance▫ Several homeowners have setup payment arrangements

• Projected 2011 HOA Dues –▫ $235 - $240 range ($10 - $15 reduction from 2010)

2010 Expense ReviewCategory 1Q10 2Q10 3Q10 4Q10 Full Year

Groundskeeping:

Landscaping $4,301.78 $3,570.22 $6,886.70 $0.00 $14,758.70Pond Maintenance $892.88 $923.88 $2,069.38 $0.00 $3,886.14Misc. Maintenance $0.00 $2,003.54 $1,403.00 $0.00 $3,406.54

Total Groundskeeping: $5,194.66 $6,497.64 $10,359.08 $0.00 $22,051.38

Utilities:

Water $74.20 $332.28 $714.56 $0.00 $1,121.04Electric $1,186.21 $2,297.10 $2,549.76 $0.00 $6,033.07Telephone $140.88 $145.24 $0.00 $0.00 $286.12

Total Utilities: $1,401.29 $2,774.62 $3,264.32 $0.00 $7,440.23

HOA Mgmt. Expenses:

Legal Fees $1,809.37 $482.37 $1,357.87 $0.00 $3,649.61Insurance $0.00 $1,371.00 $0.00 $0.00 $1,371.00Administrative Expenses $1,297.22 $430.00 $289.50 $0.00 $2,016.72Special Projects $0.00 $286.00 $70.00 $0.00 $356.00

Total HOA Mgmt Expenses: $3,106.59 $2,569.37 $1,717.37 $0.00 $7,393.33

Total: $9,702.54 $11,841.63 $15,340.77 $0.00 $36,884.94

2011 Proposed Improvements

•Sand and Paint Fences▫Estimate - $9,000

•Sub-Division Sign•Storage Shed•Violation enforcement

Nominations for 2011 HOA Board•Richard Williams – HOA President•Doug McCoy - ???•Larry Whatley - ???•Nominations from the floor

Election

•One vote per household•HOA Dues must be paid in full to cast a

vote and/or hold a position•Elected board members will assume

responsibilities immediately