Operating Account Funded through assessments Utilized for annual operating expenses

1. 2014 Annual Meeting Treasurer’s Report: Accounts Overview Operating Account • Funded through assessments • Utilized for annual operating expenses • Funds Operating Reserves • Funds Capital Reserves Account Capital Reserves Account • Funded through assessments • Through Operating Account • Utilized for asset improvements, repair, replacement • Funded over time for future asset expenses • Capital Improvement Account • Funded through assessments on home sales • Utilized for asset improvements, repair, replacement Operating Reserves = $24,379 Total of the Capital Accounts = $81,748 Target is 35% of annual fees = $57,700 Target is to remain above $35,000

2. 2014 Annual Meeting Treasurer’s Report: Year End Operating Account

3. 2013 Annual Meeting Treasurer’s Report: Capital Improvement Account * Capital Improvement Fee amount, paid by purchaser, is equal to the Annual Assessment

4. 2013 Annual Meeting Treasurer’s Report: Capital Reserve Account

5. 2014 Annual Meeting Treasurer’s Report: 2014 Operating Budget

6. 2014 Annual MeetingUpcoming Projects • Replace fencing on South side of Inverness Lane • Build walk way across fire road, connecting Inverness Lane and St. Andrews Drive • Legal Committee formed to bring our 1994 Governing Documents up to date • Implement recommendations of Certified Arborist study • Finalize plantings on 252 hillside, South of 252 entrance • Fenced in Dog Park for GAW residents under evaluation

7. GAW Architectural Request Form

8. GAW Website www.greensatwaynesborough.com

10. GAW Email Communications • Email Blasts handled by Communications chair. • Goal of 2013 was to increase HOA email communications • Goal of 2013 was to gather current and valid homeowner email addresses • Goal of 2014 is to continue to increase dissemination of community information via email blasts. • Sixteen Email Blasts were sent in 2013 • Please submit any email address changes to CCR • Please add hoa@greensatwaynesborough.com to your address book

11. GAW Dog Park • Exploratory stage • Dog Park Committee formed • Factors we are considering include: • location • fencing materials • ground cover • Cost • funding • Future recommendations will be presented to the board for decision

12. Finance CommitteeAsset Replacement Schedule

13. Landscape Diseased and Hazardous Tree removal

14. Fire Road Walkway

15. 252 Hillside Extension project 2014

16. Golf Course Fencing 2013

17. Inverness Fencing 2014 Project

18. Legal Committee Update Governing Documents review project

19. Governing Documents review projectLegal framework HIERARCHY OF GOVERNING DOCUMENTS • Constitution.Basic rules for: • Rights and obligations of the Members and how the government is set up • How the governing functions • Declaration of Covenants (Toll Brothers and Easttown Township in 1994) + amendments • By-Laws (1994) + amendments • Rules and Regulations, adopted by the Board of Directors • Government.Day to day operation of the community. • Is elected by Members • Can pass regulations without further approval of members • Note: • By-Laws can not be in conflict with Declaration • R&R can not be in conflict with By-Laws, nor Declaration

20. Governing Documents review project Types of considerations that triggered the project • The Declaration very much considered the interests of Toll Brothers, the original developer • Some use restrictions in the Declaration are no longer considered appropriate • Some sections are not very clear and open to interpretation • Boards have often argued about “to enforce or not to enforce” • A lot of time is spent in Board meetings to discuss issues around Common Open Space. This requires more clarity. • The world around us has changed a lot since 1994 and our documents need to consider some of these changes. They do not address some present day issues such as electronic communications, solar panels, etc. • The Board, Officers and Committee members are all volunteers, but they can be held liable for some situations. Some changes in the documents may be required to better protect Board, Officers and Committee members from lawsuits.

21. Governing Documents review project Legal Committee members (15) Board Members • Denise Duffy • Danielle Hughes • Luc Jacobs Initial Legal Committee • Luc Jacobs • Donald Biron (Don) • Richard Kenny (Dick) • Steven Kraus (Steve) Expanded Legal Committee • MichaelBronzino (Mike) • Yea-Ping Chen • AntonyDeCarlo (Tony) • KhurshidIqbal • Claire LaTarocca • Scott Phelps • Victor Radina (Vic) • MichaelSimard (Mike) • Elizabeth Sur (Liz)

22. Governing Documents review project List of topics to address • Access and use of Common Open Space and Community Facilities (C.7) • Plantings on Common Open Space (C.5) • Protect Common Open Space against Adverse Possession • How to deal with complaints between homeowners (procedure) (C.23 + C.24 + Resolution #2) • How to deal with violations (enforcement, fines) (C.23 + Resolution #2) • Composition of the Board (B.7.01) • Required communications between Board and Members (B. various) • Update means of communication (e.g. electronic) • Ensure proper liability protection of Board, Officers and HOA (B.9) • Satellite dishes (C.22.i) • Board obligation to conduct regular engineering studies on community facilities and adjust capital reserves accordingly • Signs (C.22.e) • Accessory structures (C.22.g) • Swing sets, trampolines, basketball hoops, above ground pools (C.22.g) • Solar panels • Mailboxes • Garbage cans on driveways (C.22.b) • Architectural standards (proper maintenance and requests for major changes) (C.22.g) • Street trees (C.6) • Vegetable gardens • Landscaping standards (proper maintenance and requests for major changes) (C.6) • Animals (C.22.d) • Holiday decoration • Containers and porter potties on driveways (C.22.c) C.X = Relevant Section in the Covenant B.X = Relevant Section in the By-Laws

23. Governing Documents review project Desired outcome of the project • Generate Amendments to the Governing Documents, addressing some issues • Organize a vote to have the Amendments approved by 67% of the homeowners • Generate some Rules and Regulations, addressing the remaining issues • Publish and distribute updated documents to all the homeowners

24. Governing Documents review project Steps taken so far • Creation of a Legal Committee (1st meeting on 4/13/2013) • Generate a list of topics to address (now at 24 items) • Selection of a law firm to assist in the project (7/30/2013) • Invitation to expand the Legal Committee (8/19/2013) • Five meetings of the expanded Legal Committee (between 9/30/2013 and 12/18/2013) • Complete list of recommendations from the Legal Committee to the Board finalized (12/18/2013)

25. Governing Documents review project Key decision considerations Mission Statement: Our mission is to support the commonwealth of our residents and enhance homeowner property values by building a strong sense of community and encouraging neighbors to work together to ensure the Greens at Waynesborough is a dynamic community that is a safe environment for our families; a vibrant place to grow and have fun; and a beautiful,peaceful neighborhood for the long term.

26. Governing Documents review project Key decision considerations (cont’d) Free for All Super regulated • Find the right balance between “anything goes” and “overregulation” • Build “principles” into the Declaration, and allow future Boards to issue Rules and Regulations (future flexibility) • The proposals/rules have to be reasonable and not arbitrary to ensure that the new Declaration, By-Laws and R&R can be enforced in a consistent way • “Have as few rules as possible, and enforce all of them” R. Hoffman

27. Governing Documents review project Next steps • Review by the Board of the recommendations of the Legal Committee and prepare a briefing for the Law Firm • Law Firm creates text for Amendments to the Declaration and By-Laws and for Rules & Regulations • Inform homeowners on the content of the proposed Amendments • Organize the voting process • Approval of the Amendments by at least 67% of the homeowners • Publish and distribute updated documents to all the homeowners Target Completion: June 2014

28. Sidewalk • Trip Hazards and major cracks on Common area sidewalks were repaired in 2013 • Side walks directly in front of homes are homeowner responsibility • GAW Homeowner discount negotiated with the contractor

29. Social Committee • Committee Chair - committee members • Celebration Day planning • Music • Entertainment • Volunteer recruiting • Food • Location • Notification to community

30. Welcome Committee • New GAW Homeowners contacted and visited by Committee Chair • Welcome packet delivered • Email address confirmed • www.greensatwaynesborough Website membership sign up explained

31. Volunteers Needed for all Committees • Please see sign-up sheets at Management table • Consider giving your time to help your community • “Clean up Activities” committee being formed

32. 2014 Annual MeetingManagement Company Report • Responsibility • Insurance • Architectural Submission Review Process • Compare GAW to other associations in the same Region • Communication Update

33. Board Elections • Candidate: Danielle Hughes

34. Questions?

35. Meeting Adjournment Thank You