january 25, 2010 desert mountain master association
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January 25, 2010Desert Mountain Master Association
Annual Meeting
Welcome
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1.25.2010 DMMA Annual Meeting
Call To Order
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1.25.2010 DMMA Annual Meeting
Quorum
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1.25.2010 DMMA Annual Meeting
Proof of Notice
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1.25.2010 DMMA Annual Meeting
2009 Annual Meeting Minutes
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1.25.2010 DMMA Annual Meeting
Reports ofOfficers
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1.25.2010 DMMA Annual Meeting
2009 Committees• Safety & Access Control• Infrastructure & Landscape• Election• Covenants• Design Review• Council of Presidents• Communications
President’s Report
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1.25.2010 DMMA Annual Meeting
• Litigation• Governance• Investment• AB Liaison• DMP Transition
President’s Report2009 Committees
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1.25.2010 DMMA Annual Meeting
President’s Report• Finances Sound
• Operations Running Smoothly
• Looking to the Future
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1.25.2010 DMMA Annual Meeting
President’s Report
Cost Cuts Improved Collection Practices Better Financial Support Conservative Budgeting
• Finances Sound
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1.25.2010 DMMA Annual Meeting
President’s Report• Operations Running Smoothly
Landscaping & Safety Parkway Repair & Resurfacing Reserve Study Update Problem Properties Title Issues Design Review Communications
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1.25.2010 DMMA Annual Meeting
President’s Report
• Looking to the Future
Business Model Review Project
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1.25.2010 DMMA Annual Meeting
Vice President’s Report• Business Model Project – Next Steps
Interview Guides are DraftedCommunity Interview Package DevelopedConsultants are Being ReplacedAB will Participate in Community
Interviews
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1.25.2010 DMMA Annual Meeting
Vice President’s Report
HOA is Participating with AB in a Marketing Study
We have nearly half of our candidate communities identified and participating.
•Business Model Project – Next Steps
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Master Business Model Development Project
Summary Work Plan
Define Objectives &
Plan
Develop Research
Develop DMHOA
Options & Solutions
Select Providers
Decision by HOA Board
• Define Objectives Scope & Plan
• Draft HOA Requirements
• Set up Project Organization and Teams
• Brief Teams & Assign Work
• Obtain Board & Stakeholder Input
• Draft Analysis Needs Package
• Hire Consultants
• Draft Interview Materials
• Identify Peer Communities
• Conduct Contacts & Research
• Analyze Findings
• Review with Stakeholders
• Develop Option Candidates
• Evaluate S&W
• Create Candidate Business Models
• Perform Cost/Benefits & Functional Analyses
• Review with Stakeholders
• Finalize Requirements
• ID Qualified Target Providers
• Engage & Evaluate Selected Providers
• Finalize Selections with Stakeholders
• Finalize Board Decision
- Business Model
- Business Rationale
- Financial Cost/Benefit Model
- Providers
- Implementation Plan
• Review with Stakeholders
• Decision / Voting
1 2 3 4 5
(Option Driven)
• HOA Master and Villages• DM Community Members• Advisory Board & Club Mgmt• CCMC and HOA Staff• Service Provider Community
Stakeholders
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1.25.2010 DMMA Annual Meeting
Treasurer’s ReportYear In Review – 12/31/2009
• Improved Analysis• Expense Management
• Continued cost-saving efforts• Improved Collection Practices
• Staff attention• 74 accounts to collection agency
Overall Focus:
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1.25.2010 DMMA Annual Meeting
Treasurer’s Report
• Bad Debt Write Offs = $80.5K
• Master Delinquency rate = 3.5%
• Reserves = 62% Funded
Year In Review – 12/31/2009
• Year End Cash Projection - $814K
• Operating Surplus - $164K for all entitiesHighpoints:
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December YTD ResultsMaster Only ($ Thousands)
2009 2009December YTD December YTD
Actual Budget Variance
Income: $2,756.2 $2,951.8 ($195.7)
Expenses:Administrative: 1,058.9 1,109.2 50.3
Operations: 1,128.8 1,369.3 240.5Taxes & Insurance: 1.1 63.3 62.2
Other Expenses: 14.2 36.9 22.7
Total Operating Expense: $2,203.0 $2,578.7 375.8
Transfers to Reserves:Reserve: 100.0 213.3 113.3
Capital Reserve: 100.0 0.0 (100.0)Legal Reserve: 250.0 0.0 (250.0)
Access Fees Reserve 0.0 79.0 79.0
Excess Revenue over Expense: $103.2 $80.8 $22.4
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2009 Master Actual vs. Budget Major Variances
Income:
Bad Debt: (87.6)Access Fees: (61.0)
Other: (73.7)Design Review: 26.6
Variance: (195.7)
Expenses:
Security: 153.1Landscaping: 81.9
Other: 74.9Taxes & Insurance: 62.2
Administrative: 26.1Legal: (22.4)
Variance: 375.8
Transfer to Reserve: (157.7)
Net: 22.4
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Going Forward
• Conservative budget approach– Example: conservative estimate for bad debt
• Match operational revenues to operational expenses– Variable revenue such as Design Review fees
fund reserve contribution
• Increased analysis and oversight
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1.25.2010 DMMA Annual Meeting
Manager’s Report
• Team - E Pluribus Unum
Foreclosures Delinquencies Collections
• Frequently Asked Questions
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1.25.2010 DMMA Annual Meeting
Manager’s Report
Road Maintenance Reserve Study Update Continue to Build on Communication Committee’s Work Continue to Positively Impact Problem Properties
• 2010 Projects
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1.25.2010 DMMA Annual Meeting
E Pluribus Unum
From the
many, ONE
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1.25.2010 DMMA Annual Meeting
Transfer of Excess Operating Funds
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Members must vote to carry over excess 2009 operating
income into 2010. This will give the Association’s CPA
maximum flexibility to file the most advantageous
income tax return possible for the corporation
(and pay the lowest possible income taxes).
Note – Per IRS Code Section 277 and Revenue Ruling 70-604 where
excess of membership income over membership expenses may be
applied against future expenses or transferred to the reserve fund.
Transfer Of Excess Operating Funds
1.25.2010 DMMA Annual Meeting
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1.25.2010 DMMA Annual Meeting
Election of Directors• Dave Dargo
• Rick Harrington
• Bill Jensen
• Ronald Matricaria
• Ann Melsheimer
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1.25.2010 DMMA Annual Meeting
Election of Directors
Cast Your Ballot
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1.25.2010 DMMA Annual Meeting
• Rick Harrington
Acknowledgements
• Clu Lewis
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1.25.2010 DMMA Annual Meeting
Committee Reports
• Infrastructure & Landscape – Margie Carpenter
• Design Review - Harley Wood
• Election – Marilyn Dellaripa
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1.25.2010 DMMA Annual Meeting
Questions&
Answers
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1.25.2010 DMMA Annual Meeting
ElectionResults
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1.25.2010 DMMA Annual Meeting
Adjournment
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