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November 19, 2009 7:00 PM

November 19, 2009 7:00 PM. Annual Homeowner’s. Association Meeting. Meeting Purpose. Communicate past achievements and coming changes Review how the 2009 budget was spent Adopt 2010 budget Nominate & elect new board members Discuss community concerns:

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November 19, 2009 7:00 PM

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  1. November 19, 2009 7:00 PM Annual Homeowner’s Association Meeting

  2. Meeting Purpose Communicate past achievements and coming changes Review how the 2009 budget was spent Adopt 2010 budget Nominate & elect new board members Discuss community concerns: Two way input, Q & A, homeowner comments 1

  3. AGENDA 7:00 to 7:15Call to Order Introductions Accept 2008 Annual Meeting Minutes 7:15 to 7:45Presentations Highlights of 2009 Changes in Vendor Contracts Changes in Common Act Law 7:45 to 8:15Budget Review 2009 - Plan vs. Actual Proposed Budget 2010 8:15 to 8:45Homeowner Input & Questions 8:45 to 9:00Nominate & Elect New Board Members 9:00Adjourn & Refreshments 2

  4. BOARD MEMBERS in 2009 PresidentWalter Mills Vice PresidentMarie MacDonald Treasurer Jeff Olmstead Secretary Laurrie Sostman Assistant Patrick DeLorenzo Secretary 3

  5. 2009 Highlights • Balanced Budget • Funded Reserve Accounts • Managed Delinquent Fees • Renegotiated all Vendor Services Notable activity: Achieved best possible financial outcome in difficult economic times (lots of hard work by your Treasurer) Reduced water usage in common areas (lots of monitoring and hands-on adjustment by your President) Secured vendor services for the next 3 years at best cost (lots of negotiation by your V. President) 4

  6. Vendor Contracts • Replaced multiple vendors for snow removal, mowing, irrigation, fertilization & weed control under one contract with Russo Landscaping * • Got 3 competitive bids • Secured a 3 year fixed contract covering 2010, 2011, 2012 • Will save $2,000/year ($6,000 in 3 years) v. nearest competitor’s bid • Combined common area maintenance under one vendor *replaces these prior contracts: Dynamic Landscaping (mowing & plowing) Green Machine (irrigation) Central CT Lawn (fertilization & weeds) *contract remains for: Bartlett Tree (tree maintenance) 5

  7. Water Usage • Saved $950 in water costs by reducing the automatic schedule and by shutting off some meters * 4th Qtr. compares end of ‘07 and ‘08 seasons 6

  8. Common Interest Ownership Act • Act was amended and signed into law by Governor Rell, July 2009 • Most provisions take effect in 2010 • Requires additional insurance (‘fidelity’ policy) • Specific requirements for meetings, recordkeeping, notices and governing documents -- most we’re already meeting • Allows some discretion in enforcing rules … most comprehensive overhaul in laws for associations in 25 years … VOLUNTEERS NEEDED! In early 2010 a subcommittee will review the new law and advise the Board on how to comply. Can you help? 7

  9. Other Highlights • Welcoming Committee –Suzanne Petke and Susan True visited and welcomed new neighbors • Covenant Committee –Reviewed and approved homeowner improvement projects • Tag Sales –Spring sale was small, but successful • Community Event –Picnic get together was held in July at the free concert on the Bloomfield Town Green • Website –News, updates and info are easily accessed • Beautification –Volunteers planted flowers at entrances 8

  10. 2009 Plan vs. Actual 9

  11. 2010 Budget Proposal Note: 2009 budget was $56,335 10

  12. Current Account Balances Checking Account(cash) $8,838.30 Reserve Fund(money market)$14,704.93 Capital Expenditure Fund(money market) $ 5,789.38 Capital Expenditure Fund (CD)$10,151.21 Total Liquid Assets$39,483.82 as of November 15, 2009 11

  13. Fund Definitions Reserve Fund - dollars reserved for unplanned projects (i.e., emergency situations) Capital Expenditure Fund -dollars accumulated for planned future projects (i.e., road repaving) 12

  14. Outstanding Maintenance Fees(For more than one quarter including acceleration and penalties) as of October 17, 2009 13

  15. Homeowner Input & Questions

  16. 3 Board Positions Are Open for Election Nomination & Election

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