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WELCOME TO THE PRINCETON VILLAGE HOMEOWNER’S ASSOCIATION, INC. SEMI-ANNUAL MEETING

WELCOME TO THE PRINCETON VILLAGE HOMEOWNER’S ASSOCIATION, INC. SEMI-ANNUAL MEETING. December 4, 2011. AGENDA. MISSION STATEMENT WHY AN HOA IS IMPORTANT HOA LIMITATIONS / CONSTRAINTS CURRENT STATE OF AFFAIRS PROJECTED 2012 FISCAL BUDGET BOARD COMMITEES VOTING ON COVENANT AMENDMENTS

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WELCOME TO THE PRINCETON VILLAGE HOMEOWNER’S ASSOCIATION, INC. SEMI-ANNUAL MEETING

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  1. WELCOME TO THE PRINCETON VILLAGE HOMEOWNER’S ASSOCIATION, INC. SEMI-ANNUAL MEETING December 4, 2011

  2. AGENDA • MISSION STATEMENT • WHY AN HOA IS IMPORTANT • HOA LIMITATIONS / CONSTRAINTS • CURRENT STATE OF AFFAIRS • PROJECTED 2012 FISCAL BUDGET • BOARD COMMITEES • VOTING ON COVENANT AMENDMENTS • CHRISTMAS PARTY • NEIGHBORHOOD WATCH • ADJOURNMENT

  3. MISSION STATEMENT THE PRINCETON VILLAGE HOMEOWNER’S ASSOCIATION, A SELF-MANAGED HOA , SHALL PROMOTE A FRIENDLY FAMILY NEIGHBORHOOD ENVIRONMENT WHILE ASSISTING MEMBERS IN MAINTAINING THEIR INVESTMENT. THIS SHALL BE ACCOMPLISHED THROUGH VARIOUS PROGRAMS THAT SUPPORT A CLEAN CRIME FREE AND AESTHETICALLY PLEASING COMMUNITY.

  4. IT IS IMPORTANT FOR ALL OWNERS TO UNDERSTAND THE RESPONSIBLITIES OF AN HOA AS WELL AS IT’S LIMITATIONS. • OUR RESPONSIBILITIES INCLUDE: • PROTECTING PROPERTY VALUES • FAIR ENFORCEMENT OF THE DECLARATION OF COVENANTS • SETTING AND COLLECTING HOA ASSESSMENTS • MAINTENANCE OF POOL AND COMMON AREAS • PROVIDING A CENTRALIZED POINT OF CONTACT WHY AN HOA IS IMPORTANT

  5. HOA LIMITATIONS / CONSTRAINTS • HOA HAS NOTHING TO DO WITH TAX ASSESSMENTS • MORTGAGES • ANY LEGAL ACTION PLACED AGAINST YOUR PROPERTY BY OTHER CREDITORS • PERSONAL DISPUTES OUTSIDE OF VIOLATIONS ASSOCIATED WITH THE HOA COVENANTS

  6. CURRENT STATE • 29 OUT OF 31 MEMBERSHIP LOTS OCCUPIED • 75% FINANCIAL COMPLIANCE • 100% INSURED • - NATIONWIDE INSURANCE • PUBLIC SAFETY ISSUES ADDRESSED IN 2011 • - SPEED LIMIT SIGNS • - CUTTING BACK GRASS IN COMMON AREAS • - SECURED COMMUNITY ASSETS

  7. Performance Report 2011

  8. PERFORMANCE REPORT • HOA ASSESSED A PRORATE OF $168 PER HOUSEHOLD FOR CY 2011 • THE ANTICIPATED REVENUE WAS *$4032 BASED ON 24 ACTIVE HOMES FOR THE PRORATED MONTHS OF SEPTEMBER THRU DECEMBER. * amount contingent upon 100% participation with paying pro-rated assessments ** CURRENTLY OPERATING AT 78% PARTICIPATION FOR 2011 DUES **

  9. PERFORMANCE REPORT 2011

  10. PROJECTED BUDGET 2012

  11. VISION • To manage and maintain financial records in conformity with generally accepted accounting principles and in compliance with state and federal laws. • To develop and maintain effective and efficient financial planning, reporting and central support systems in order to support the operating committees in achieving their program objectives. • To provide quality service to the residents while safeguarding the community’s assets.

  12. SWOT ANALYSIS • Strengths • Weaknesses • Opportunities • Threats

  13. S . W . O . T . STRENGTHS • A self managed community allows us to better manage the revenue more efficiently and effectively • Directors who reside in the community have more of a vested interest in enhancing the community with which we live

  14. S . W . O . T . WEAKNESSES • Lack of participation (i.e. Meetings, HOA dues, and Volunteering) • Lack of communication with Board

  15. S . W . O . T . OPPORTUNITIES • Fundraisers to generate additional revenue will empower us to expand on what we are able to do in our community as well as achieve our yearly goals and objectives.

  16. S . W . O . T . THREATS • Delinquencies severely impacts our ability to have the required resources to complete the necessary repairs, maintenance and enhancements suggested for the betterment of our community. • Non-compliance to community covenants and bylaws resulting in unnecessary fines.

  17. 2012 HOA DUES • HOA fees assessed at $500 per household for 2012 and will be due in full by March 1,2012 • Anticipated 2012 dues expected based on 2012 assessment  * $13,500 (500 x 27 active homes) * amount contingent upon 100% participation on paying 2012 HOA assessments

  18. FINANCIAL PERSPECTIVE

  19. 2012 BUDGET PLANNING PLANNED ACTIVITIES FOR 2012 IMPLEMENTATION: • Pool repairs • Get utilities (Pool/Tennis area) turned on in HOA’s name • Secure regular maintenance vendors for Pool & Common areas

  20. BOARD COMMITTEES

  21. BOARD COMMITTEES We are looking for volunteers for the following committees: • Fundraising • Maintenance • Pool Committee

  22. VOTING ON COVENANT AMMENDMENTS

  23. CHRISTMAS PARTY The Princeton Village 3rd Annual Christmas Eve Celebration will be held on: December 24, 2011 I will be collecting the slips from those that will be participating in the festivities, please return your gift selection sheet to Tanya. - Also - Use provided signup sheet to list the dish you will bring to the festivities. Let’s make this one our BIGGEST one yet!!! See you there.

  24. NEIGHBORHOOD WATCH

  25. ADJOURNMENT

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