October, 2017 wners - Sterlingwoods
Sterling Woods HOA meeting
October, 2017
Welcome and declare quorum
Budget update
? Vote on one-time Mailbox repair Assessment
Landscape update
- Wayne
State of the HOA board, committees
? Volunteers
Presentation by Management Company
Vote on board initiative # 1
Vote on board initiative # 2
- Bishara\Wayne - Tao
- Bishara\Tao - Bishara
- Alex - Wayne - Wayne
10/11/2017
Sterling Woods
Agenda
Sterling Woods HOA Budget Review
By Tao Watson, Treasurer
2017 HOA Budget YTD
INCOME: Landscaping: Clean Up Sprinklers Water Lighting Insurance Property Tax PO Box Rental Misc. TOTAL EXPENSES: BALANCE:
10/11/2017
$26,970 $13,730 $3,650 $710 $4,720 $570 $1,060 $21 $170 $240 $24,870 $2,100
Insurance Lighting
Water
Sprinkler Maint.
Landscaping
Sterling Woods
Landscaping Sprinkler Maint. Water Lighting Insurance
2017 HOA Budget ? Year to Date
HOA Dues Collected:
? 2017: 100% ($26K) collected + $96 late fees ? 2016: 100% ($26K) collected
Major expenses for 2016-17 were as anticipated, with landscaping & maintenance accounting for 80% of annual budget.
We ended year 2016 on budget.
General reserves of $30K were carried over for future unanticipated costs.
SW HOA remains in sound financial condition with no major deviation from annual budget.
Changes in expenses in 2017:
? Monthly landscaping cost went up 0.5% due to tax increase, by ? Mulch applied first time in 5 years, cost $2500 ? Adjusted watering schedule this summer, reduced Sept. water bill by 50% from last year. ? Wetland tree toping $800
10/11/2017
Sterling Woods
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