Annual General Meeting November 25 2013 SLOA AGM
Annual General Meeting November 25, 2013 SLOA AGM November 25, 2013
Introducing the Board for 2013 • • • Steve Baumann Sandi Bonini Claudia Buttera Terry Lister Rima Markunas • • • Debbie Ng* Lesley Rideout* Dennis Thomasson Dan Weslake Rob Vastag SLOA AGM November 25, 2013
Agenda • • • Approval of Minutes from last AGM 2013 Annual Report, including financials Design Review 2014 Operating Budget 2014 Amenities Plan Election of 2014 Board SLOA AGM November 25, 2013
Motion • Move to approve the Minutes from the AGM held March 5, 2013 SLOA AGM November 25, 2013
2013 REPORT SLOA AGM November 25, 2013
2013 Report Pool Operations • Wading pool was covered pending decision on future development • Acquired new, heavy duty pool cover for winter Sustaining the Lakes • Biological treatment • Operation of bubblers Tennis Courts • Both courts power washed • South Court repaired and lines repainted Gardens and landscaping • Old sales office area – Twin and Sunset Lakes • Best practices – weed removal and use of fertilizers Community events • Spring and fall clean-up • Christmas wagon ride SLOA AGM November 25, 2013
Volunteers make the community • • Board members are all volunteers Volunteers sit on special committees 10 -15% of residents volunteer Seeking help with: – Tennis courts – Docks and cedar fence posts – Playground – Walking trails – Common area beaches – Community events SLOA AGM November 25, 2013
Covenants and Design Review • DEED RESTRICTIONS. . . available online @ http: //www. sunsetlakes. ca/s unset-lakes/covenants • All building plans must be approved by Design Review Committee • Waterfront development must be approved • Trail easements cannot be constrained • No long-term parking of trailers, motorhomes, etc SLOA AGM November 25, 2013
2013 Financial Report Operations Projected to year Budget 2013 end Income $50, 750 $48, 945 Operating Expenses Insurance, Administration Gardens and Landscape $4, 830 $13, 700 $4, 375 $12, 572 Pool Operations $12, 550 $10, 737 $7, 900 $600 $10, 180 $600 $0 $40, 180 $10, 570 $38, 938 $10, 482 Lake Operations Community Events Repairs and Maintenance (other) Total Operating Expenses Net Income after Operations SLOA AGM November 25, 2013
2013 Financials: with Capital Projects Budget 2013 Projected to year end Income $50, 750 $48, 945 Total Operating Expenses Net Income after Operations $40, 180 $10, 570 $38, 938 $10, 007 Special and Capital Projects Bubbler for Sunset Lake Pool Cover Dock for Twin Lake Wading Pool Refurbishment Tennis Court Refurbishment $7, 000 $2, 000 $1, 500 $3, 000 $0 $6, 776 $2, 127 Total Special and Capital Projects $13, 500 $13, 647 Net Income after Capital Projects -$2, 930 -$3, 640 SLOA AGM November 25, 2013 $4, 745
Reserves • We normally contribute 10% of total income to the reserve each year. • This year, with the purchase of bubbler for Sunset Lake and tennis court refurbishment we will not make a contribution • At the end of 2013, reserves stand at about $87, 000. SLOA AGM November 25, 2013
Breakdown of costs Operating Expenses Lakes 26% Total Expenses Tennis Courts 9% Insurance, Admin, other 13% Gardens and Landscape 32% Insurance, Admin, other 9% Gardens and Landscape 24% Lakes 32% Pool 29% Pool 25% SLOA AGM November 25, 2013
Motions on 2013 Report • Move to accept 2013 Annual Report • Move to forgo audit of the 2013 financial report SLOA AGM November 25, 2013
2014 PLAN SLOA AGM November 25, 2013
2014 Budget for Operations Budget 2013 Budget 2014 Income $50, 750 $50, 400 Operating Expenses Insurance, Administration Gardens and Landscape $4, 830 $13, 700 $4, 640 $13, 300 Pool Operations $12, 550 $13, 050 $7, 900 $600 $13, 443 $1, 000 $2, 000 Lake Operations Community Events Repairs and Maintenance (other) Tennis Court Maintenance $2000 Total Operating Expenses Net Income after Operations $40, 180 $10, 570 SLOA AGM November 25, 2013 $51, 433 ($1, 033)
Sunset Lakes Owners Association 2013 AGM • 2012 AGM: there was a proposal to create a single family home lot next to the swimming pool • Rationale included: o Sell the lot to increase revenues for future expenditures o To do something with an area perceived to be underutilized o To reduce annual operating costs • The motion was defeated and a committee was formed…
Amenities Replacement and Enhancement Committee (AREC) AREC makes recommendations to the SLOA Board for consideration and ultimate approval. Mandate and roles of AREC: 1. To maintain current, the replacement value of common amenities and assets. 2. To schedule for the replacement/enhancement of amenities/assets 3. To complete projects 4. To develop options for the use of common areas and amenities, in accordance with design review and covenants 5. To explore additional revenue sources as required SLOA AGM, November 25, 2013 AREC Members • • Sandi Bonini (SLOA Board Member) Heather Counsell Jon Lundstom Lesley Rideout Rob Vastag (SLOA Board Member) Dan Weslake (SLOA Board Member) Donna Wilson MORE WELCOME!!
• AREC Priorities (and rationales) Area Rationale Tennis Courts Safety, aesthetics, general maintenance Wading Pool Safety, opportunity Play Structure Safety Pool Fencing Aesthetics, design SLOA AGM, November 25, 2013
1. • • • Tennis Court 1: safety repairs in 2013 to surface cracking (~$4. 7 k) Court 2: power washed in 2013 (cost included above) In 2014, Court 1 will be re-painted (~$2 k) SLOA AGM, November 25, 2013
2. Wading Pool Area • Pool area failed inspection due to wading pool opening being a safety hazard • Immediate action was required and the opening was promptly covered (thank you Steve and Dennis) • AREC explored other options for similar active uses for infants /toddlers o Fix existing Wading pool – needed concrete work, new heater, maintenance of filtering system – On hold for now o Splash pad – dismissed due to high cost for minimal features 2 or 3 water spouts for ~$12, 000 • Conclusion - maintain status quo (i. e. covered) and consider for passive uses in future planning SLOA AGM, November 25, 2013
3. • • • Children’s Play Structure Is at the end of its life cycle Is dilapidated and beyond repair is a safety hazard was closed on Nov 14, 2013 Requires replacement in 2014 SLOA AGM, November 25, 2013
3. • • • Children’s Play Structure (con’t) recommendation to replace in 2014 in the range of $25, 000 to $30, 000 Requesting approval of $30, 000 from reserve fund to replace with steel play structure (reserve fund has roughly $85, 000) New = 25 to 30 yr life expectancy Replace again in +/- 2039 Get involved by joining AREC only e l p exam le o p m a ex nly ~$20, 000 ~$28, 000 SLOA AGM, November 25, 2013
3. Children’s Play Structure (con’t) nly le o p m a x e ~$30, 000 only e l p exam SLOA AGM, November 25, 2013 ~$30, 000
4. • • • Pool Fencing Is not in line with SLOA covenants in terms of design review standards Is not in line with the quality of our neighbourhood Is in need of upgrade from an aesthetics' perspective An upgrade is perceived to increase “value” Would cost between 15 k to 25 k (+ tax) Recommendation: defer until next AGM when long-range forecast is expected to be complete SLOA AGM, November 25, 2013
Summary of AREC Projects: Area Rationale Recommendation Tennis Courts Safety, aesthetics 2013 repairs (completed) 2014 paint older court ($2, 000) Wading Pool Safety, opportunity Fill in (completed), maintain status quo, review in future Play Structure Safety Replace in 2014 (~$30, 000) Pool Fencing Aesthetics, design Defer until next AGM when longrange forecast is expected to be complete SLOA AGM, November 25, 2013
Financial Implications: Fee Increase • • Recommended fee increase from $350 to $400 in 2014 Rationale: • Pay-off play structure in 4 years (~$7 K per year in extra annual revenue) • Replenish our reserve fund for future big-ticket items: • Concrete pool • Asphalt pathways • Lake treatment (i. e. bubblers) • Tennis courts • $400 for 2014 is consistent with rate of inflation / cost of living increases since development inception • By comparison - Lakeland Estates Annual Fees ~ $800 SLOA AGM, November 25, 2013
2014 AREC Projects Project / Area Rationale 2014 Cost (estimate) Children’s Play Structure Safety $30, 000 Pool House Roof / Shingles General Maintenance $7, 000 Tennis Court General Maintenance $2, 000 Long-Range Financial Forecast / Reserve Fund Study Confirm adequacy of reserve funds Confirm adequacy of annual fees Study Fencing Around Pool and Tennis Courts Aesthetics, design Review and recommend for next AGM Enhancements to the “park” (i. e. seating, landscaping, etc. ) Aesthetics, usability, community Review of Beach Area Usability, maintainability, environmental considerations Review SLOA AGM, November 25, 2013
Thank you. Questions? SLOA AGM, November 25, 2013
Motions • Motion 1: to allocate $30, 000 in the 2014 capital budget to be spent on replacement of the children’s play structure • Motion 2: to allocate $7, 000 in the 2014 capital budget to be spent on replacement of the pool-house shingles • Motion 3: to allocate $3, 300 in the 2014 capital budget to be spent on a bubbler • Motion 4: to increase 2014 annual dues from $350 to $400 SLOA AGM, November 25, 2013
Complete 2014 Budget Income $57, 400 Operating Expenses Insurance, Administration Gardens and Landscape Pool Operations $4, 640 $13, 300 $13, 050 Lake Operations Community Events $13, 443 $1, 000 Repairs and Maintenance (other) Total Operating Expenses Net Income after Operations $2, 000 $47, 433 $9, 967 Special and Capital Projects Additional bubbler Pool house roof Play structure Total Special and Capital Projects $3, 300 $7, 000 $30, 000 $40, 300 Net Income after Capital Projects -$30, 333 SLOA AGM November 25, 2013
Volunteers needed Community Amenities Community Events • walking trails • tennis courts • docks and cedar post fencing • play ground • skating rink (Twin Lake, Sunset Lake, South Pond) • • Spring clean up Summer event Fall Clean up Holiday wagon ride SLOA AGM November 25, 2013
Board for 2013 Returning members • Steve Baumann • Sandi Bonini • Claudia Buttera • Terry Lister • Rima Markunas • Lesley Rideout • Dennis Thomasson • Rob Vastag • Dan Weslake New nominations SLOA AGM November 25, 2013
Hold the Date! Holiday Wagon Ride • Date: Friday, December 20, 2013 • Time: 6 -7 • Where: meet at pool parking lot • Donations of cookies to share would be appreciated SLOA AGM November 25, 2013
MOTION TO ADJOURN THE MEETING SLOA AGM November 25, 2013
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