Budget

1. Budget • 2012 • 2013 • There will be no raise in dues this year. Next year they will likely need to be raised.

2. Audit • We are in the process of completing an independent audit. One has never been completed for our HOA.

3. Legal Representation for 2012 • Costs: Litigation $5828 Filing fees $ 543 • These costs are associated with the recoupment of annual dues. We have roughly 47 out of 368 or 8% of households that have not paid dues. These fees will be higher if we begin to prosecute for covenant violations.

4. Pool Improvements for 2012 Contract amount $12,184 Security system $ 4,391 Deck enlargement $ 2,425 Entry door changed $ 1,700 • Our savings from the 2011 snow removal helped fund the pool improvements. • We will try not having a pool monitor next year.

5. Pond Management for 2012 • Current Contract: $6435 • Site visit every 8 days april 1st – nov 1st • Treat for submerged weeds and algae • Extra Charges: • Sonar algae treatment we pay extra for • Emergant weeds (cat tails, etc.) extra charge 

6. Front Entrance Improvements for 2012 Costs: Flags $117 Fence repair $186 Damage was done to the Five Points entrance median as result of accident. We are still following up to try to collect. KIBI Trees: Place gator bags $200 Fill gator bags $700 • We are required to water these trees for 3 seasons. 2012 was our first season and 2014 will be our last watering season. We hope to find a volunteer to begin a new planting project this spring.

7. Garage Sale Sponsorship for 2012 Costs Ad$ 50 x 2= $100 Signs $205 x 2= $410 • We are looking to purchase changeable letter signs to save on future costs.

8. Website www.smithfieldhoa.org or visit the resident run site on Facebook “Smithfield Community Residents”

9. Newsletters for 2012 Costs for Spring and Fall: Printing $314 Ad’s that off set $70 • There are no mailing costs incurred for the Newsletter as we send them out with our Annual meeting notice for Fall and with our annual dues notice in the spring.

10. Insurance Old cost & coverage $2 Million $3,600/year New cost & coverage $10 Million $6,560/year

11. Pool Future Costs • General Information: pool and restrooms are 13 years old in 2012 • Pool is drained and inspected each spring. • City is requiring us to perform and pay for weekly bacteria testing will add $1,000 cost to future pool contract costs.

12. 5 Years of Expected Pool Costs Expected 2013 costs: Chemical feeder $ 800 Rubber buytl $ 1,000 Tile line grout $ 200 Rails & steps $ 1,000 Clock & wire Cage $ 135 On/off switches $ 300 Vent fan $ 300 Sand filter $ 500 $ 4,235 + possible Epoxy $ 7,000 $11,235 • We will be able to tell in spring if we will be able to epoxy the pool for $7,000 to extend the life for 5+ more years. If not, we will need to plan on a $20,000 replaster of the whole pool liner. Expected 2014 costs: Pool bed liner $20,000 New pump $ 1,000 Water heater $ 500 $21,500 Expected 2015 costs: Exterior Paint $1,000 Expected 2016 costs: Expected 2017 costs Rubber buytl $1,000 Pool chairs $3,000 Roof$1,500 Sand filter $ 500 $6,000

13. New Entrance Signs • This project has been placed on hold until spring due to unexpected pool costs.

14. Pine trees • It has been recommended by professionals that we postpone tree plantings until spring because of the drought conditions last summer. • Cost to replace spruce trees on 5pts with 8ft. trees $400 each from our landscaping vendor • We are looking at direct purchase options as well

15. KIBI Pocket Parks • KIBI offers pocket park projects and we would like to look into making an addition of picnic tables with a covered area by our pool house in the future.

16. KIBI Tree Planting • We are looking for someone to be the contact person to coordinate the next Keep Indianapolis Beautiful, Inc. (KIBI) tree planting. This position includes being the contact person between KIBI and the Association during the planning phase and coordinating neighborhood volunteers through our HOA management company. This volunteer will also attend the tree planting and help KIBI coordinate on site and set up an HOA provided lunch for all planting volunteers. If you are interested in helping our neighborhood, please call MaryAnn at 882-1982.

17. Pond Information • 4 ponds • Five Points pond Combs pond • Rapp pond Rutherford/Rapp pond • Top four options for helping our pond. • 1. colorant • 2. more grass carp (12 per acre) • 3. keep 8 ft. of bank unmowed • 4. riprap • Aeration will only help wild life, not the algae problem • Fountain is mostly for aesthetics • Riprap will help filter wash and help prevent algae bloom but expensive • Keeping 8 ft. of bank unmowed acts like Riprap

18. Proposed Landscaping • Current Contract: mow, fertilize, trim bushes and trees. • Asphalt/curb weed control throughout division- will quote for this • Pool house redesign- made suggestions for additions. • Add sprinkler systems to combs entrances- will quote for this • Quinn’s suggestions: • Behind pool 6 pine trees and 5 rose of sharron - $2,900 • Riprap around 5 pts pond drain $375 • Repair 5 pts pond edge in 3 places $5,700 • Repair rapp pond edge in 2 places $3,600 • Repair kunkle pond edge in 2 places $2,800 • Repair Smithfield/combs pond edge $2,850

19. Strategic planning • The Board has been meeting with our current vendors to get a better understanding of what common are improvements will be needed now and in the future. Our first meeting was with Aqua Doc about our pool and restrooms. There are several small items that need to be addressed this coming season and a large one that will be needed the next season. Our next meeting was with Hoosier Aquatic about the ponds. Their suggestion was to add more Grass Carp and use Colorant next spring. The other options are much more costly. Our last meeting this month was with Quinn’s about our landscaping. He had several suggestions to add to our pool landscaping. When we eventually get new signage at our entrances, he will work with us on plant and watering designs. He also noted many places where pond banks need repaired. We are planning to meet with a sign vendor to get a handle on costs for those as well. We would appreciate any feedback from you on ideas or suggestions. The Board is currently working on ways to pay for these costs.