candlelight village 2015 annual meeting · reading and approval of minutes of preceding annual...

Candlelight Village Home Owners Association Slide - 1 Slide - 1

Candlelight Village 2015 Annual Meeting

Candlelight Village Home Owners Association Slide - 2

Agenda Roll Call, owners present proxies - Determine if quorum Proof of notice of meeting Reading and approval of minutes of preceding annual meeting Financial report & Approval of budget Maintenance issues and improvements Adjournment


Accomplishments in the last few years

Roof and siding redone – This took an assessment and has been very hard to manage. There are still outstanding

monies owed from 2010 although very low now

General improvements have been made – Fence repairs, trash issues dealt with and some small landscaping work

Units that were for sale and not selling are now being sold quickly and our ownership

to renters ratio is slightly better

Positive cash in our bank accounts – This was not the case some years ago as we were always in the red – Much of this has come from good management of the accounts and ensuring delinquent

owners pay their dues and assessments


Financials


2013 & 2014 Break down by % of what our spending is

Insurance Utilities Capital Improvements Lawn and Maintenance

Insurance Utilities Lawn and Maintenance


2013 & 2014 Financials

These 2 charts show the financials for the HOA

You would think this is good, right?

Issue is that the majority of the increase we have is from 2 things

– 1) Overdue assessments and dues that were paid up in 2014

– We did no real large capital improvements

2013 2014


2013 Financials

Break down shows our financial flow over the year Either a surplus or deficit by month Red bar at far right is the balance for the year – That’s a problem

We Spent WAY More Than We Took In

Roughly $18K

The Problem


2015 Budget

This basically just keeps the lights on and allows for the basics of operating the complex

No improvements are in this budget


2013 Improvements


2013 Improvements Trash

– We have asked the city to ensure they place the waste containers properly so to not damage the landscaping

– We have a young man that walks the property once a week and picks up trash Proper Tree trimming and removal as needed Cameras near the waste containers

– These have lowered the amount of dumping Dog waste stations gives ease to deal with dog waste Fence

– Treatments will ensure longevity and increase the esthetics of the property – Some repairs to the gates and parameter areas


2014 Improvements

Some fence repairs


Improvements Needed


Fence issues

Fences are in poor condition This is manageable with some repair work but it wont

last and it sure wont look very good


Parking

The parking area is in disrepair for years

Water collects in areas where it shouldn’t as well as lots of cracks

We make repairs to it regularly but this is just patching

To make these repairs we need more money


Large Landscaping issues

These issue can have catastrophic consequences that could clean out our bank account to make the repairs

– And these would just be repairs – The underlying issue would remain


2015 Budget

This basically just keeps the lights on and allows for the basics of operating the complex

No improvements are in this budget


HOA Dues from Other Properties Benchmark of other

complexes


The Plan

Pay cash for the fence repairs out of the current budget – Metal poles, cemented in the ground and treated – Parameter fences as well

Secure a loan for the landscaping work

– Area between 12 and 13 • Depending on cost possibly a sprinkler system around the front

Continue this method for the other needed items like parking and sprinkler systems

HOA Dues will need to be raised to cover the loan amounts


General Issues of Note


Dogs

The city has ordinances with respect to animals – A resident can be fined for these things by the city

Leashes – All dogs should be leashed

Noise – Excessive noise and barking should be avoided

Waste – Dogs must be cleaned up after


Satellite Dishes

Satellite Dishes must be mounted inside the fenced in area

Pictures here show what should not be done – This damages the property as well as looks

terrible – Damages come out of the budget to repair and

lower our ability to make overall improvements

We as a board want to be flexible within this area so contact Century 21 in the event a satellite dish will be installed and lets work out what is compliant and workable


Parking

This is how the signs must be done according to the state of Texas

Any other type sign is not valid We will be changing out the signs

Note:

– Many residents are using the visitors spots as over-flow or extra parking for their vehicles


Dumping Large Trash Items $664 was spent in 2013 for this For the most part it is something we

don’t deal with now but does happen at times

Please be sure to not leave large items at the dumpster – no one is coming to get it


Thanks Everyone for Coming

candlelight village 2015 annual meeting · reading and approval of minutes of preceding annual...

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