Arapahoe Estates Community Annual Meeting

February 26, 2009

Agenda for Annual Meeting

Establish Quorum & Proof of Notice - Approval of 2008 Annual Meeting Minutes Introduce Board Members & Staff Reports

Recap Of Activities Association Documents Treasurer’s Report – Financial Status – Proposed Budget

– (Landscape Committee Report) Architectural Review Committee Report Communications

Open Forum Election of New Board Members

Nominations Candidate Introductions Vote

Results & Adjourn

Recap

Association Documents Approved Stage 1 of 2 Stage Sprinkler Renovation Completed Restructuring of Architectural Review Process Major Projects Completed for Duplex Homes Added Court Yard Estates HOA to Arapahoe Estates Community Garden Managed to Current Budget – Balanced – On Target

Treasurer’s Report

Sources of Income and Amount: Monthly Annually

Single Family Homes 128 $76.00 $116,736

Duplexes General 16 $76.00 $14,592

Town Homes 8 $76.00 $7,296

Strawberry Lots 2 $76.00 $1,824

Court Yard Estates 6 $76.00 $5,472

Vacant Lots 3 $65.50 $2,358

TOTAL INCOME 163 $148,278

Duplexes Specific 16 $45.00 $8,640

Cash/Reserve Balances and Projected Income  

General Reserves (11/30/08) $14,173  

Plus Cash (11/30/08 $5,525    

Total Cash & Reserve (11/30/2008) $19,698    

Plus Due from Duplexes $3,380    

Total Beginning Cash $23,078    

Plus Projected Income $148,278    

Total Cash Available $171,356    

Treasurer’s Report

Total Cash Available $171,356 2010-2011

Reserve $3,680

Less Projected Expenditures: Income $148,278

  $151,958

One Time Expenses:

    Landscape/Grounds 2009 $20,000   $10,000

Snow Removal 2009 $20,000 $20,000

Sprinklers 2009 $20,000   $0

Calendar 2009 Total $60,000 $30,000

 

Cash Available for Operations $111,356 $121,958

Treasurer’s Report

RECURRING EXPENSES

Projected 2009 -2010

Budget9 months of 2009 Actual

Assumes 8% increase

Accounting (Audit/Review/Tax Prep) $0 $0 $0

Bad Debt $0 $0 $0

Bank Charges $0 $0 $0

Electricity $853 $632 $921

Grounds Contract - Keesen (Mowing) $35,000 $31,925 $37,800

Insurance $4,248 $3,147 $4,588

Legal $3,147 $2,331 $3,399

Other One Time Expenses $6,000 $5,991 $6,480

Management $15,795 $11,700 $17,059

Miscellaneous $0 $0 $0

Office Supplies $7,969 $5,903 $8,607

Tax - Federal $0 $0 $0

Tax - State $0 $0 $0

Trash Removal $17,663 $13,084 $19,076

Water $17,000 $15,982 $18,360

TOTAL EXPENSES $107,676 $90,695 $116,290

ESTIMATED RESERVE BALANCE $3,680 $5,668

Treasurer’s Report - Summary

We should make it through 2009-2010 without a dues increase assuming expenses go up no more than 10%. For the 2010-2011 projection I assumed an increase of 8% over 2009s projected figures. The balance at the end of fiscal 2010-2011 in reserves will be low assuming we spend $20,000 on snow removal both years. Any money not spent on snow removal will increase the reserves. If money is spent on snow removal, and we have another large capital project, a dues increase will probably be needed.

Landscape Committee Report

LANDSCAPE – YEAR END REVIEW: Phase I sprinkler system replacement completed end of summer:

– Work done by Dean’s Sprinkler, Colorado’s leading residential service provider

– State-of-the-art equipment– Controls to monitor wind and rainfall to reduce waste– Re-designed to provide more even coverage and reduce waste

Colorado Blvd. entry replanted Colorado Blvd entry: cleaning, trimming and tree removal by your

Board Arapahoe entry:

– Retaining wall replaced– Bark spread as temporary measure until additional funds become available

Landscape Committee Report

LANDSCAPE – 2009/2010 Phase II sprinkler system replacement is expected to

commence late spring Association will contract with Dean’s to maintain system All owners will be encouraged to lend a hand in a spring clean-

up of our park. Numerous trees and shrubs must be trimmed and/or removed.

Both replacement and additional trees and shrubs will be planted. Over time, shading highly exposed areas will improve the appearance of the turf and reduce water usage.

Architectural Review

Architectural Review Process This process begins with the submission of a written application for approval of

the proposed project or change. Please note that Arapahoe County does require a building permit for certain

additions, changes and alterations of your property. It is the responsibility of the homeowner to contact Arapahoe County Building Department as to their specific requirements.

The Committee then must approve or disapprove the plans and specifications submitted within thirty (30) days. Written notification of the decision of the Architectural Control Committee will be returned to the homeowner.

A request should always be transmitted in person or by mail, never by a third party, and never left at committee members’ homes when no one is there. If this procedure is not followed, the burden of proof of receipt shall be on the person making the submission.

Architectural Review

WRITTEN NOTICE OF ARCHITECTURAL CONTROLTO ALL ARAPAHOE ESTATES PROPERTY OWNERS

YOU ARE A MEMBER OF THE ARAPAHOE ESTATES OWNERS ASSOCIATION PER THE RECORDED COVENANTS, WHICH ARE A PART OF THE OWNERSHIP OF YOUR PROPERTY. ALL MEMBERS OF THE ARAPAHOE ESTATES OWNERS ASSOCIATION AND THEIR PROPERTIES ARE SUBJECT TO ARCHITECTURAL CONTROL AS SET FORTH IN THE RECORDED COVENANTS AS WELL AS IN THE ENCLOSED ARAPAHOE ESTATES ARCHITECTURAL CONTROL PROCEDURES AND GUIDELINES. ARCHITECTURAL CONTROL INCLUDES BUT IS NOT LIMITED TO NEW AND REPLACEMENT LANDSCAPING, ALTERATIONS AND ADDITIONS TO EXISTING HOMES, ROOFING, AND ANY REPAIRS AS THE RESULT OF ANY TYPE OF CASUALTY, LOSS, DAMAGE, OR INSURANCE CLAIM OF ANY PROPERTY WITHIN ARAPAHOE ESTATES. ALL ARCHITECTURAL REQUESTS MUST BE IN WRITING ON THE ENCLOSED FORM. THE REQUEST MUST BE MADE PRIOR TO ANY WORK BEING STARTED. MEMBERS ARE HEREIN ADVISED IN WRITING THAT ANY WORK SUBJECT TO ARCHITECTURAL CONTROL AS DEFINED ABOVE THAT IS DONE WITHOUT THE EXPRESSED WRITTEN CONSENT OF THE ARAPAHOE ESTATES ARCHITECTURAL CONTROL COMMITTEE WILL BE IN PERIL OF BEING DENIED AND SUBJECT TO ENFORCED REVERSAL. AS GOOD NEIGHBORS THE BOARD ENCOURAGES ALL OWNERS TO MAKE TIMELY ARCHITECTURAL APPLICATIONS IN ADVANCE SO THAT THE ARCHITECTURAL COMMITTEE CAN MAKE DECISIONS IN A TIMELY MANNER.

Open Forum and Elections