Dear Members,
Thank you to all who attended this year's annual meeting held this past Saturday. There were 10 units represented in person, and 25 units represented by proxy. The newly elected Board members are: Charlie Snell Dwayne Porter Laurie Pate Michaux Merhout Tina Butcher Once the Board elects the Officers, this information will be posted on the Association's website. The Board was pleased to report that many significant improvements had taken place over the past year such as:
and that several other projects will soon be underway:
Different ideas and possibilities were discussed regarding the future
projects, and after the meeting, we conducted a walk-around of the property to
discuss different ideas that would work best for the dumpsters, landscaping,
parking, etc. Judy Hoops, as our managing agent, is overseeing these projects
under the direction of the Board, and I encourage every owner to let Judy know
if you have any ideas that will improve the property.
Financial Reports: It was also requested at last year's meeting that the financial reports be updated to be more understandable. The new Balance Sheet now separates and shows a breakdown of the reserve money and also no longer contains outdated items. The Budget vs. Actual report no longer counts the money collected for reserves as income, rather it shows up as equity on the Balance Sheet report. You will notice on the Budget vs. Actual report that some items appear twice, such as the electric expense. The reason for this is for tax purposes to separate expenditures associated with exempt income vs. and non-exempt income. Reports are attached. Plumbing: The Board explained that as of the annual meeting last summer of 2010, that there had been no records kept for plumbing repairs. When the Board evaluated the plumbing issue, it decided that it would be reasonable and prudent to delay making any upgrades to the plumbing for one year in order to gather data to allow the Board to make well-informed decisions. There were three leaks in the common area polybutylene pipes in the last year. The Board is currently evaluating the need for plumbing upgrades, and developing a plan to implement it. Plumbing report attached. Audit: The Board announced that this was the first year that Winterhaven has had an audit performed. A full audit was performed and the auditor's report was distributed at the meeting. No problems or discrepancies were reported. Audit report is attached. Review of Declaration/Bylaws: At last year's annual meeting, the membership expressed the desire to have the Board review and more clearly define the respective responsibilities of the Association and the owners for maintenance and repair. After an extensive review of the Declaration and Bylaws, the Board presented several proposed amendments to the membership at the meeting. Some members expressed that they would like to have more time to allow input from the membership and it was decided that an attorney would review the proposed changes before having the membership vote. A special meeting date will be announced later at which time the membership may vote on proposed amendments. Thank you all once again for your continued support as we all work together to continually improve Winterhaven. Charlie Snell, WUOA President |