Regal Manor Homeowners Association

Report
Regal Manor
HOMEOWNERS ASSOCIATION
2014 Annual Meeting
WELCOME
Establishment of Quorum
Call to order
Introductions
Andre Barrett Kuester Property Management
Board of Directors
Housekeeping
Refreshments
Restrooms
Web attendees
Questions
WHAT IS REGAL MANOR HOA?
Non-profit corporation
Incorporated on May 5th, 2006 by Coulston Enterprises [Earl Coulston]
Deed-restricted community
10 Developments
Governing documents
Regal Manor Homeowner’s Association Covenants Conditions &
Restrictions (CCRs)
Bylaws
ARC Guidelines (adopted by Board of Directors 2008)
Governing bodies
Board of Directors
Management company
ARC Committee
Nominating Committee
Amenities
Clubhouse
3 Pools
Playground
Picnic area
Common, Natural, and Open spaces
Nation Ford Greenway/Carolina Thread Trail
Not affiliated with Regent Park
Initially part of “Emerald Lakes” development plan
REGAL MANOR HOA CONTINUED
Approximately 845 occupied homes
734 Single-family homes
114 Townhomes
Over 60 acres of common/natural areas
Developments
Baden Village
*Still in development
Balmoral
Fallbrook
Phase I/II
Phase III
Regal Manor
Stanton Heights (Builder/developer: Soni Construction)*
Wellsley Ford
Stafford Oaks
Bexley
Adler Grove
Summerlake Townhomes (Builder/developer: True Homes)*
VOTING PROCEDURES
Nominating Committee
Article V, Section 1. Nomination. Other than the initial Board of Directors which will be appointed by
the Declarant as provided in Section 1 of Article IV hereof, nomination for election to the Board of
Directors shall be made by a Nominating Committee. Nominations may also be made from the floor
at the annual meeting. The initial Nominating Committee shall be composed of two of the initial
members of the Board. Thereafter, the Nominating Committee shall consist of a Chairman, who
shall be a member of the Board of Directors, and two or more members of the Association. At the
first annual meeting of the members and prior to each annual meeting of the members thereafter
the Nominating Committee shall be appointed by the Board of Directors to serve from the close of
such annual meeting until the close of the next annual meeting and such appointment shall be
announced at each annual meeting. The Nominating Committee shall make as many nominations
for election to the Board of Directors as it shall in its discretion determine, but not less than the
number of vacancies that are to be filled. Such nominations may be made from among members or
non-members.
Nominating Committee
2013-2014
Brandon Vancise, Board of Directors
Jemel Hatcher, Association member
Jo Winkler, Association member
Stacia Henney, Association member
Mark Keenen, Association member
Richard Sweezer, Association member
2014-2015
TBD, Board of Directors
Jemel Hatcher, Association member
Jo Winkler, Association member
Stacia Henney, Association member
Mark Keenen, Association member
Richard Sweezer, Association member
VOTING PROCEDURES
Board of Directors
David Yerty—Elected 2013, expires 2016. (2018…)
Scott Rossi—Elected 2013, expires 2015. (2017…)
Carl Irish—Elected 2013, expires 2014. (2016, 2018…)
Brandon Vancise—Elected 2013, expires 2015. (2017…)
Dean Gaskins—Elected 2013, expires 2014. (2016, 2018…)
Starting in 2015, odd years will elect two members, and even years will elect three
members. Terms will be for two years.
Nominees (2 x Two-year terms)
Carl Irish*
Dean Gaskins*
Nominations from the floor:
Anu Devasia
Eric Koppenhofer
Jim Lieb
*Vetted and recommended by the Nominating Committee
COMMUNITY GROWTH
1000
845
900
914
731
800
625
700
600
480
500
500
400
300
200
267
309
167
100
0
2007
2008
2009
2010
2011
We grew 16% from last year, adding 114 homes.
We have reached 92% of the completion target.
2012
2013
2014
Target
ACCOUNTS RECEIVABLE
$90,000.00
$80,000.00
$70,000.00
$60,000.00
$50,000.00
$40,000.00
$30,000.00
$20,000.00
$10,000.00
$-
•
•
•
•
•
•
•
Assessments are due quarterly: January 1, April 1, July 1, October 1
Average $55,823 (last 12 months)
January had 227 delinquent account with a balance of $76,344.47.
As of September 30th, there were 83 delinquent accounts with a balance of $31,464.30
For 2014, we’ve written off $15,165.65 in bad debt.
Amounts include delinquent assessment(s), late interest, and legal fees (lien, foreclosure)
The Association currently owns 3 properties
2014 CASH ACCOUNTS
OPERATING CASH
PETTY CASH
RESERVE CASH
TOTAL CASH
RECEIVABLE BALANCE
*As of October 31, 2014
$64,919.58
$6,445.77
$7,425.00
$219,655.55
$67,859.84
2015 OPERATING BUDGET
ASSOCIATION ASSESSMENTS
ASSESSMENTS TO RESERVES
LATE INTEREST INCOME
LEGAL FEES INCOME
AMENITY RENTAL INCOME
TOTAL INCOME
$566,440
-98,348
1,800
6,000
12,000
$487,892
Administrative
Building and Grounds
Community Amenities
Utilities
Total
$173,820
166,622
55,550
91,900
$487,892
FINANCIAL SUMMARY
Income Statement Summary
$600,000
$500,000
$487,892
$422,224
$397,374
$395,268
$400,000
$388,207
$333,207
$328,066
$300,000
$487,892
$285,661
$319,746
$298,245
$229,984
$200,000
$100,000
$23,805
$19,165
$37,023
$35,527
$33,115
$35,185
$32,939
$32,351
$27,339
$24,854
$40,658
$40,658
$0
2010
per month
2011
per month
*As of September 30, 2014
**Budgeted
2012
per month
2013
per month
2014*
per month
2015**
per month
2014 IN REVIEW
•
•
•
•
•
•
•
•
•
•
•
•
•
All common property now owned by the Association
Resurfaced clubhouse parking lot
Added grills to the picnic area
Installed water/power at several monuments
Landscaping improvements
Updated collection policy
New vendor partners:
• Landscaping: Providence Landscaping Group
• Pool: Swim Club Management Group
• Management: The Cusick Company
Replaced clubhouse carpet with laminate floor
Removal of builder signage
Updated clubhouse rental policy
Replaced pool deck drains and patched deck
Started the “Helping Hands” initiative
Established RFP documentation and process
Full downloadable list will be available at www.RegalManorHOA.com
2014 CHALLENGES
Accounts Receivable/Foreclosures
Transition
Clubhouse lot/taxes
Contract performance
Landscaping
Pool
Volunteers
Compliance
2015 GOALS
Complete HOA Transition
Common area improvements
Clubhouse
Adding amenities
Parking
Entrance Monuments
Infrastructure
Irrigation
Lighting
Standardize
Pool
Expanded deck
Picnic area
Refurbishment
Heritage Lake
New amenity center
Sidewalks
A.O. Jones
Starlight
Regent Parkway
Farmhouse
Security
Electronic access
CCTV expansion
AMENDMENTS
• Proposed changes/amendments:
• Changing assessment collection from yearly
to quarterly
• Clarifying collection procedures for fines and
fees
• Lowering the percentages required to meet
quorum
• Online voting
HOW CAN I BE INVOLVED?
Volunteer
Time
Services
Expertise
Goods/equipment
Inform others
Stay alert
Communication
Open session
Website
Facebook
Email us
Management company
COMMITTEES
Social Committee
Pool Committee
Rules & Regulations
Committee
Sidewalk Committee
Management company
Regal Manor HOA
Board of Directors
ARC Committee
Grounds/Maintenance
Committee
Communications
Committee
Security/Preparedness
Committee
CONTACT INFORMATION
Kuester Property Management www.kuester.com
Andre Barrett
(803)802-0004
(888)600-5044 24 hour hotline
[email protected]
**Effective December 1, 2014**
The Cusick Company www.cusickcompany.com
Brian Peterson/Rita Barrett
(704)544-7779
Regal Manor HOA website: www.RegalManorHOA.com
Facebook: www.facebook.com/groups/regalmanor2/
REMINDERS
Christmas dumpster
Decorations (30 days)
No roadside leaf pick-up service
Social Committee events
January assessment changes
No Board meeting in November/December
VOTING PROCEDURES
Voting Results
Carl Irish* 197
Dean Gaskins* 196
Anu Devasia 45
Eric Koppenhofer 18
Jim Lieb 22
*Elected to two-year terms
QUESTIONS

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