annual general meeting november 25, 2013 sloa agm november 25, 2013

SLOA AGM November 25, 2013

Annual General Meeting

November 25, 2013


Introducing the Board for 2013

• Steve Baumann• Sandi Bonini• Claudia Buttera• Terry Lister• Rima Markunas

• Debbie Ng*• Lesley Rideout*• Dennis Thomasson• Dan Weslake• Rob Vastag


Agenda

• Approval of Minutes from last AGM• 2013 Annual Report, including financials• Design Review• 2014 Operating Budget• 2014 Amenities Plan• Election of 2014 Board


Motion

• Move to approve the Minutes from the AGM held March 5, 2013


2013 REPORT


2013 ReportPool Operations• Wading pool was covered

pending decision on future development

• Acquired new, heavy duty pool cover for winter

Tennis Courts• Both courts power washed• South Court repaired and

lines repainted

Sustaining the Lakes• Biological treatment• Operation of bubblers

– Twin and Sunset Lakes

• Best practices – weed removal and use of fertilizers

Gardens and landscaping• Old sales office area

Community events• Spring and fall clean-up• Christmas wagon ride


Volunteers make the community• Board members are all volunteers• Volunteers sit on special committees• 10-15% of residents volunteer• Seeking help with:

– Tennis courts– Docks and cedar fence posts– Playground– Walking trails– Common area beaches– Community events


Covenants and Design Review

• DEED RESTRICTIONS... available online @ http://www.sunsetlakes.ca/sunset-lakes/covenants

• All building plans must be approved by Design Review Committee

• Waterfront development must be approved

• Trail easements cannot be constrained

• No long-term parking of trailers, motorhomes, etc

http://www.sunsetlakes.ca/sunset-lakes/covenants

http://www.sunsetlakes.ca/sunset-lakes/covenants


2013 Financial Report

Budget 2013Projected to year

end

Income $50,750 $48,945

Operating ExpensesInsurance, Administration $4,830 $4,375Gardens and Landscape $13,700 $12,572

Pool Operations $12,550 $10,737

Lake Operations $7,900 $10,180Community Events $600 $600Repairs and Maintenance (other) $600 $0

Total Operating Expenses $40,180 $38,938Net Income after Operations $10,570 $10,482

Operations


2013 Financials: with Capital Projects

Budget 2013 Projected to year end

Income $50,750 $48,945

Total Operating Expenses $40,180 $38,938Net Income after Operations $10,570 $10,007

Special and Capital ProjectsBubbler for Sunset Lake $7,000 $6,776Pool Cover $2,000 $2,127Dock for Twin Lake $1,500Wading Pool Refurbishment $3,000Tennis Court Refurbishment $0 $4,745

Total Special and Capital Projects $13,500 $13,647

Net Income after Capital Projects -$2,930 -$3,640


Reserves

• We normally contribute 10% of total income to the reserve each year.

• This year, with the purchase of bubbler for Sunset Lake and tennis court refurbishment we will not make a contribution

• At the end of 2013, reserves stand at about $87,000.


Breakdown of costsIn-

surance, Ad-min, other13%

Gardens and Landscape

32%

Pool29%

Lakes26%

Operating Expenses

Insurance, Admin, other

9%

Gardens and Landscape

24%

Pool25%

Lakes32%

Tennis Courts9%

Total Expenses


Motions on 2013 Report

• Move to accept 2013 Annual Report

• Move to forgo audit of the 2013 financial report


2014 PLAN


2014 Budget for Operations

Budget 2013 Budget 2014

Income $50,750 $50,400

Operating ExpensesInsurance, Administration $4,830 $4,640Gardens and Landscape $13,700 $13,300

Pool Operations $12,550 $13,050

Lake Operations $7,900 $13,443Community Events $600 $1,000Repairs and Maintenance (other) $600 $2,000

Tennis Court Maintenance $2000

Total Operating Expenses $40,180 $51,433Net Income after Operations $10,570 ($1,033)

Sunset Lakes Owners Association 2013 AGM

• 2012 AGM: there was a proposal to create a single family home lot next to the swimming pool

• Rationale included:o Sell the lot to increase

revenues for future expenditures

o To do something with an area perceived to be underutilized

o To reduce annual operating costs

• The motion was defeated and a committee was formed…

Amenities Replacement and Enhancement Committee (AREC)

AREC makes recommendations to the SLOA Board for consideration and ultimate approval.

Mandate and roles of AREC:

1.To maintain current, the replacement value of common amenities and assets.

2.To schedule for the replacement/enhancement of amenities/assets

3.To complete projects4.To develop options for the use of common

areas and amenities, in accordance with design review and covenants

5.To explore additional revenue sources as required

AREC Members• Sandi Bonini (SLOA

Board Member)• Heather Counsell• Jon Lundstom• Lesley Rideout• Rob Vastag (SLOA

Board Member)• Dan Weslake (SLOA

Board Member)• Donna Wilson

MORE WELCOME!!

SLOA AGM, November 25, 2013

•AREC Priorities (and rationales)


Area Rationale

Tennis Courts Safety, aesthetics, general maintenance

Wading Pool Safety, opportunity

Play Structure Safety

Pool Fencing Aesthetics, design

1. Tennis Courts

• Court 1: safety repairs in 2013 to surface cracking (~$4.7k)

• Court 2: power washed in 2013 (cost included above)• In 2014, Court 1 will be re-painted (~$2k)


2. Wading Pool Area


• Pool area failed inspection due to wading pool opening being a safety hazard

• Immediate action was required and the opening was promptly covered (thank you Steve and Dennis)

• AREC explored other options for similar active uses for infants /toddlerso Fix existing Wading pool – needed concrete work, new

heater, maintenance of filtering system – On hold for now

o Splash pad – dismissed due to high cost for minimal features - 2 or 3 water spouts for ~$12,000

• Conclusion - maintain status quo (i.e. covered) and consider for passive uses in future planning

3. Children’s Play Structure

• Is at the end of its life cycle• Is dilapidated and beyond repair• is a safety hazard• was closed on Nov 14, 2013• Requires replacement in 2014


3. Children’s Play Structure (con’t)


• recommendation to replace in 2014 in the range of $25,000 to $30,000

• Requesting approval of $30,000 from reserve fund to replace with steel play structure

• (reserve fund has roughly $85,000)• New = 25 to 30 yr life expectancy• Replace again in +/- 2039• Get involved by joining AREC

~$20,000

~$28,000

example only

example only


3. Children’s Play Structure (con’t)

~$30,000

~$30,000

example only

example only

4. Pool Fencing

• Is not in line with SLOA covenants in terms of design review standards

• Is not in line with the quality of our neighbourhood• Is in need of upgrade from an aesthetics' perspective• An upgrade is perceived to increase “value”• Would cost between 15k to 25k (+ tax)• Recommendation: defer until next AGM when long-

range forecast is expected to be complete


Summary of AREC Projects:

Area Rationale Recommendation

Tennis Courts Safety, aesthetics 2013 repairs (completed)2014 paint older court ($2,000)

Wading Pool Safety, opportunity Fill in (completed), maintain status quo, review in future

Play Structure Safety Replace in 2014 (~$30,000)

Pool Fencing Aesthetics, design Defer until next AGM when long-range forecast is expected to be complete


Financial Implications: Fee Increase

• Recommended fee increase from $350 to $400 in 2014• Rationale:

• Pay-off play structure in 4 years (~$7K per year in extra annual revenue)

• Replenish our reserve fund for future big-ticket items:• Concrete pool • Asphalt pathways• Lake treatment (i.e. bubblers)• Tennis courts

• $400 for 2014 is consistent with rate of inflation / cost of living increases since development inception

• By comparison - Lakeland Estates Annual Fees ~ $800


2014 AREC Projects


Project / Area Rationale 2014 Cost (estimate)

Children’s Play Structure Safety $30,000

Pool House Roof / Shingles General Maintenance $7,000

Tennis Court General Maintenance $2,000

Long-Range Financial Forecast / Reserve Fund Study

Confirm adequacy of reserve fundsConfirm adequacy of annual fees

Study

Fencing Around Pool and Tennis Courts Aesthetics, design Review and recommend for next AGM

Enhancements to the “park” (i.e. seating, landscaping, etc.)

Aesthetics, usability, community Review

Review of Beach Area Usability, maintainability, environmental considerations

Review

Thank you. Questions?


Motions


• Motion 1: to allocate $30,000 in the 2014 capital budget to be spent on replacement of the children’s play structure

• Motion 2: to allocate $7,000 in the 2014 capital budget to be spent on replacement of the pool-house shingles

• Motion 3: to allocate $3,300 in the 2014 capital budget to be spent on a bubbler

• Motion 4: to increase 2014 annual dues from $350 to $400


Complete 2014 BudgetIncome $57,400

Operating ExpensesInsurance, Administration $4,640Gardens and Landscape $13,300Pool Operations $13,050

Lake Operations $13,443Community Events $1,000

Repairs and Maintenance (other) $2,000Total Operating Expenses $47,433Net Income after Operations $9,967

Special and Capital ProjectsAdditional bubbler $3,300Pool house roof $7,000Play structure $30,000Total Special and Capital Projects $40,300

Net Income after Capital Projects -$30,333


Volunteers needed

Community Amenities• walking trails• tennis courts• docks and cedar post

fencing• play ground• skating rink (Twin Lake,

Sunset Lake, South Pond)

Community Events• Spring clean up• Summer event• Fall Clean up• Holiday wagon ride


Board for 2013

Returning members• Steve Baumann• Sandi Bonini• Claudia Buttera• Terry Lister• Rima Markunas• Lesley Rideout• Dennis Thomasson• Rob Vastag• Dan Weslake

New nominations


Hold the Date!Holiday Wagon Ride

• Date: Friday, December 20, 2013

• Time: 6-7• Where: meet at pool

parking lot • Donations of cookies to

share would be appreciated


MOTION TO ADJOURN THE MEETING

annual general meeting november 25, 2013 sloa agm november 25, 2013

Documents

operations sloa agm

board sloa agm

financial report sloa

breakdown of costs sloa

lake operations

total income

annual report

net income