TAMARISK WEST OWNERS ASSOCIATION Budget Notes

TAMARISK WEST OWNERS ASSOCIATION Budget Notes

November 2017

Re: 2018 Budget & Reserve Analysis; Assessment & Reserve Disclosure; Insurance Summary Disclosure; Annual Policy Statement; Alternative Dispute Resolution and Internal Dispute Resolution; Architectural Disclosure; Fine Schedule; Collection Policy; Annual Address/Information Update Form; Member List Opt-Out Form; Electronic Communication Form (Email Opt-In) and an Auto Debit Authorization Agreement.

To: Homeowners

Please find enclosed the 2018 Pro-Forma Budget and Reserve analysis, together with the Collection Policy. The Board has approved an annual reserve funding amount of $45,000.00 for the 2018 fiscal year. Since the adopted budget currently reflects a deficit, the Board may be required to increase the regular assessment or impose a special assessment during the 2018 budget year to meet the operating needs of the Association. The monthly assessment will remain at $645 per lot/per month. New coupon books will be mailed under separate cover.

As required by California Civil Code Section 5310(a)(7), we have enclosed the Association's insurance summary disclosure form. Please be advised that even though a claim may be covered, you may be responsible for all or a portion of the deductible that applies. The Association strongly encourages you to contact your insurance agent or broker to acquire individual unit owner coverage. Also included is a summary of Civil Code Section 5975, regarding Alternative Dispute Resolution ("ADR") and Internal Dispute Resolution ("IDR").

Enclosed you will find an authorization agreement to request direct debit from your checking account for the monthly assessment amount. Debits are made on or after the 5 th of every month. Should you elect this option, be advised that it may take up to 60 days before Desert Resort Management can process your payment automatically. You must continue to pay by check until you receive confirming notification from Desert Resort Management with a starting date.

Upon written request and during reasonable business hours, Minutes of Board Meetings and other records are available at Desert Resort Management, 42-635 Melanie Place, Suite 103, Palm Desert, CA 92211.

Any of these and other HOA documents can also be found on the association's website located by visiting . We are in the process of establishing a custom domain that will link directly to the Tamarisk Villas HOA website. If you have not yet registered with the site, please have your HOA account number ready as you will need this in order to create a username and password.

The Board of Directors would like to take this opportunity to thank owners who faithfully pay their assessments, which enables the Association to make timely payments to our service providers. Please note the late fee for assessments is $64.50 in accordance with the governing documents of the Association. If you pay your monthly HOA Assessments via check, please mail the payment to:

Tamarisk West Owners Association P.O. Box 601205 Los Angeles, CA 90060-1205

The Board of Directors has been pro-active in addressing day-to-day maintenance as well as long-term replacement projects. This approach benefits individual owners through increased property value, longer asset life, and increased curb appeal, keeping Tamarisk West the great place it is to live.

Should you have any questions regarding the enclosures, please do not hesitate to contact your community association manager, Sam Rodriguez, CMCA?, AMS? via e-mail at srodriguez@. You may also phone the Desert Resort Management Customer Service at (760) 346-1161 or send an email to serviceorders@ for account questions, submit common area work order requests, or for any other community association needs. In the event of an emergency involving common area elements, we offer a 24-hour answering service at the same number.

Sincerely,

Board of Directors Tamarisk West Owners Association

Budget Summary Report Tamarisk West Owners Association

Dept: 221 - Operating 2018 Approved Budget - 22 units

Operating Income 4000 - Member Assessments Total Operating Income

Total Operating Income

Administrative 5000 - Administrative Contingency 5210 - Postage & Printing 5400 - Insurance Expense 6300 - Permits & Licenses Total Administrative

Professional Services 5105 - Reserve Studies 7000 - Audit & Tax Services 7020 - Legal Services 7040 - Mangement Contract Total Professional Services

Utilities 6000 - Electric Service 6005 - Gas Service 6025 - Water Service Total Utilities

Landscaping 6100 - Landscape Contract 6120 - Fertilizer 6199 - Landscape - Extras 6200 - Irrigation Repair & Maintenance Total Landscaping

Contracted Services 6434 - Pest Control 6438 - Pool Management Total Contracted Services

Grounds Maintenance 6530 - Common Areas Repair & Maintenance 6545 - Lighting Repairs & Maint 6700 - Pool Extras Total Grounds Maintenance

Reserve Contributions 9105 - Reserve Contribution Expense Total Reserve Contributions

Total Operating Expense

Total Operating Net Income / (Loss)

2017 Budget

170,280.00 170,280.00

170,280.00

1,000.00 1,000.00 11,000.00 1,040.00 14,040.00

750.00 1,500.00 2,000.00 9,000.00 13,250.00

8,500.00 13,000.00

6,000.00 27,500.00

38,400.00 950.00

10,000.00 2,000.00

51,350.00

1,825.00 4,200.00 6,025.00

2,615.00 7,100.00 3,400.00 13,115.00

45,000.00 45,000.00

170,280.00

0.00

2018 Budget

2018 Monthly

Monthly

Budget Budget Per Unit

170,280.00 170,280.00

170,280.00

14,190.00 14,190.00

14,190.00

645.00 645.00

645.00

1,000.00 1,000.00 11,000.00 1,040.00

14,040.00

83.33 83.33 916.67 86.67

1,170.00

3.79 3.79 41.67 3.94

53.19

750.00 1,450.00 2,000.00 10,815.00

15,015.00

62.50 120.83 166.67 901.25

1,251.25

2.84 5.49 7.58 40.97

56.88

8,500.00 13,000.00

6,000.00

27,500.00

708.33 1,083.33

500.00

2,291.66

32.20 49.24 22.73

104.17

38,400.00 950.00

10,000.00 2,000.00

51,350.00

3,200.00 79.17

833.33 166.67

4,279.17

145.45 3.60

37.88 7.58

194.51

1,825.00 4,200.00

6,025.00

152.08 350.00

502.08

6.91 15.91

22.82

2,615.00 7,100.00 3,400.00

13,115.00

217.92 591.67 283.33

1,092.92

9.91 26.89 12.88

49.68

45,000.00 45,000.00 172,045.00 (1,765.00)

3,750.00 3,750.00 14,337.08 (147.08)

170.45 170.45 651.70

(6.70)

Annual Budget Statements and Information

Civil Code Section 5300(b)(1): The 2018 Budget is enclosed with this statement.

Civil Code Section 5300(b)(2): A summary of the Association's reserves is enclosed with this statement.

Civil Code Section 5300(b)(3): A summary of the reserve funding plan is enclosed with this statement. The full reserve study plan is available to Members upon request and the Association shall provide the full reserve plan to any Member upon request.

Civil Code Section 5300(b)(4): The Board of Directors has determined not to defer or not undertake repairs or replacement of any major component with a remaining life of 30 years or less.

Civil Code Section 5300(b)(5): The Board of Directors, consistent with the reserve funding plan adopted pursuant to Civil Code Sections 5550(b)(5) and 5560, has determined or anticipates that the levy of one or more special assessments will not be required at this time to repair, replace, or restore any major component or to provide adequate reserves thereof.

Civil Code Section 5300(b)(6): The Board of Directors will fund reserves to repair or replace major components through the mechanisms set forth in the reserve funding plan summary enclosed with this statement.

Civil Code Section 5300(b)(7): The procedures used for calculation and establishment of reserves is set forth in the Assessment and Reserve Funding Disclosure Summary enclosed with this statement.

Civil Code Section 5300(b)(8): The Association does not have any outstanding loans.

Civil Code Section 5300(b)(9): A summary of the Association's insurance policies is enclosed with this statement.

Civil Code Section 5300(b)(10): Certification by the Federal Housing Administration may provide benefits to members of an association, including an improvement in an owner's ability to refinance a mortgage or obtain secondary financing and an increase in the pool of potential buyers of the separate interest.

This common interest development [ is / is not ] a condominium project. The association of this common interest development [ is / is not ] certified by the Federal Housing Administration.

Civil Code Section 5300(b)(11): Certification by the federal Department of Veterans Affairs may provide benefits to members of an association, including an improvement in an owner's ability to refinance a mortgage or obtain secondary financing and an increase in the pool of potential buyers of the separate interest.

This common interest development [ is / is not ] a condominium project. The association of this common interest development [ is / is not ] certified by the federal Department of Veterans Affairs.

Civil Code Section 5305: A review of the Association's financial statement shall be prepared in accordance with generally accepted accounting principles by a licensee of the California Board of Accountancy for the fiscal year, and distributed to the Members within 120 days after the close of the fiscal year.

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