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1. Title Wentworth Residents’ Association Annual General Meeting March 24, 2010 West Springs Co-op

2. Agenda • Opening Remarks • Review Highlights from 2009 AGM • 2009 Financial Highlights • 2010 • Operating Budget • Planning • Nominations & Elections for Directors • Open Floor for General Membership Discussion

3. Board of Directors • Directors*: Sean Reily David Klug James Istvanffy • Secretary*: Liana Zingle • Treasurer*: Derek Lynn • President*: Greg Leusink * Denotes a vacancy for 2010.

4. 2009 AGM Review • Held on April 2, 2009, at the Co-op • 6 residents in attendance • Meeting Highlights: • Review of financial position • Extension of area maintenance & landscaping services contract • General call for volunteers to serve as directors • Introduced $50 Admin fee for delinquent accounts

5. 2009 Financial Review Highlights • Financial position is sound • Current cash balance minus accounts payable is $37,110 • 2009 actual surplus was $9,278 • $9,278 higher than budgeted due to higher than budgeted payments

6. 2009 Financial Review

7. 2009 Revenue Detail

8. 2009 Expense Detail • Total expenses $70,057 • $8,166 Snow removal • $58,371 Grass cutting, garbage removal, watering, and planting • $2,092 Invoicing and other administration costs • $1,299 Insurance • $129 taxes

9. 2010 New Business

10. 2010 Budget Outlook Expense Estimates • $49,500 Base Services • $2,600 Plantings • $6,400 Extra watering and maintenance • $8,000 Snow Removal • $1,400 Insurance • $100 Property Tax • $2,000 Administration (invoicing) --------------------------------------- $70,000 Total Expenses Revenue Projection • 575 houses x $200 x 70% collection = $80,500 2008 Projected Net Surplus • $10,500 Sufficient cash flow to provide contingency and to consider area enhancements without further Fee increase in 2010

11. Plans for 2010 • Continuation of maintenance services through Foothills Landscaping. Rates held at ’09 levels • Enhancements • Focus on plantings (expanded beds, seasonal bulbs) • Sod over “burial plots” on Wentworth Drive • Renew bushes along 85th street fenceline • Prune and mulch around some trees • Paint black metal fences • Collect funds from Landscape Maintenance Agreement with City of Calgary, from City maintenance budget. • Continue $50 yearly administration fee for all late payments • Addition of area amenities (trash cans, benches) • Approach Wexford to merge into the Association

12. Call for Directors • 2 year terms expiring for several board members • Association requires several candidates for specific executive functions: • President, Treasurer, and Secretary • Floor open for nominations & voting

13. Moving Forward • Working with the Association • How to Reach Us • www.mywentworth.com • contact.wentworth@gmail.com

14. Questions? Concerns?Comments?

15. 2009 Income Statement(YE Feb 28 ’09) (preliminary) • Ended the year with a surplus of $9,278 thanks to strong payment rate from residents. • The $200 fee was has allowed the association to operate with a small surplus. This will ensure we can continue without a fee increase for a few years. • Further fee increases probably not required in foreseeable future Receipts • $79,355 Fees received • $0 interest income ----------------------------------- $79,355 Total Receipts Disbursements • $66,538 Maintenance costs • $2,092 Administration • $1,299 Insurance • $129 Property Tax ----------------------------------- $70,057 Total Disbursements Net Surplus • $9,278

16. 2009 Balance Sheet (YE Feb 28 ’09) (preliminary) Assets • $44,783 Cash and cheques • $70,385 Fees Receivable • $22,500 Land --------------------------------------------- $137,668 Total Assets Liabilities • $7,673 Mtce. Invoice • ------------------------------------ $7,673 Total Liabilities Equity • $129,995 • We have a strong cash position to deal with contingencies • No debt • Well positioned for 2010