ASSOCIATION ANNUAL GENERAL MEETING

Snowater Clubhouse, 7:00 pm, December 7, 2019

DRAFT AGM MINUTES

Snowater Owners’ Association

Annual General Meeting

December 1, 2018

Clubhouse 7:00 p.m.

1. Call to Order – The meeting was called to order by President Jim Meith at 7:00 p.m.

2. Attendance

Jim Meith, President

Tom Stuen, Secretary

Phil Decker, at Large

Ed Tebrock, at Large

Mike Gooch, Maintenance Manager

Mollie Pike, Administrative & Housekeeping Manager

Jim Meith introduced Tom, Ed, Phil, Mike, and Mollie and acknowledged that Nic Roggeman, Treasurer, was absent. Jim outlined what the goals of the AGM are and how we will transact business.

Quorum – Tom reported 13 Condominium Associations (buildings) were represented (totaling 154 shares - apartments), thereby establishing a quorum. After the quorum count the representative for building 200 arrived.

3. Approval of Minutes – Motion: A motion to approve AGM Minutes of December 2, 2017 was made and carried by acclamation.

4. President’s Report – Jim reviewed his report advising that the board is reviewing the

number of rentals being done at Snowater. Legal counsel’s opinion is being considered regarding what options the Board has in addressing the impacts. Several capital projects were completed during the year including propane upgrades at the Log Cabin picnic area and common stairs rebuilding.

5. Treasurer’s Report – In Nic’s absence, Jim reviewed the treasurer report advising

Snowater has a good handle on expenses; and staffing costs are now accounted for between SA Operations, Buildings, Time Share and Capital projects. He explained how the individual building assessments were calculated and indicated that while the assessments for 6 buildings will have a slight increase, the assessment for 9 buildings decreased. For 2019, 8 buildings are being asked for a special building capital

2017 SW AGM MINUTES (draft) Page 2

assessment to increase their reserves to the level recommended by the Reserve Studies.

6. Maintenance Manager’s Report –Mike Gooch relied on his report for listing of the

numerous maintenance projects completed during the year and commented on the EV charging station with a slated completion mid-December.

7. Administrative & Housekeeping Manager Report – Mollie Pike supplemented her

report with the information that Full Share unit sales increased 30% over 2017 and Time Share 20%. Full Share rentals increasing 45%-71% over 2017 placed an extra demand of the Administrative staff.

8. Nominating Committee Report – Ed Tebrock announced that the Nominating Committee, consisting of Phil Decker and Ed Tebrock, had obtained a nomination for Nic Roggeman. Additional nominations were solicited without success. Therefore, Nic Roggeman was elected by acclamation.

9. Recess: Jim recessed the AGM for the individual Condominium Associations to hold their separate meetings to consider the 2018 Resolutions and select their building officers.

10. 2017 Resolutions: Proposed Resolutions itemized below:

2.01 SURPLUS OPERATING INCOME

RESOLVED, that any undesignated surplus operating income at the end of 2018, including this Condominium Association's proportional share, be transferred to the Snowater Capital Reserve, subject to further action by the Association at its 2018 Annual General Meeting

2.02 OPERATING BUDGET EXPENSE

RESOLVED, that the 2019 Snowater Operating Budget expense of $549,129 be approved.

2.03 OPERATING BUDGET ASSESSMENT

RESOLVED, that the 2019 Snowater Operating Assessment of $454,148 be approved.

2.04 CAPITAL BUDGET EXPENSE

RESOLVED, that the 2019 Snowater Capital Budget expense of $126,500 be approved.

2.05 CAPITAL RESERVE ASSESSMENT

RESOLVED, that the 2019 Snowater Capital Reserve Assessment of $109,600 be approved.

2.06 SURPLUS CONDO BUILDING OPERATING INCOME

RESOLVED, that the resolutions directing any undesignated surplus Operating Assessment income in each Condo Association at the end of 2017 be transferred to that Condo Building’s Capital Reserve for future use.

2017 SW AGM MINUTES (draft) Page 3

2.07 (100 BLDG) LONE JACK BUDGETS

RESOLVED, that the condominium budgets for the Lone Jack Condominium Association as proposed by the Snowater Association be approved

2.08 (100A BLDG) ROCKY DRAW BUDGETS

RESOLVED, that the condominium budgets for the Rocky Draw Condominium Association as proposed by the Snowater Association be approved.

2.10 (200 BLDG) MOUNTAIN BOY BUDGETS

RESOLVED, that the condominium budgets for the Mountain Boy Condominium Association as proposed by the Snowater Association be approved.

2.11 (300 BLDG) IRON GAP BUDGETS

RESOLVED, that the condominium budgets for the Iron Gap Condominium Association as proposed by the Snowater Association be approved.

2.12 (400 BLDG) HOMESTAKE BUDGETS

RESOLVED, that the condominium budgets for the Homestake Condominium Association as proposed by the Snowater Association be approved.

2.13 (500 BLDG) GOLDBUG BUDGETS

RESOLVED, that the condominium budgets for the Goldbug Condominium Association as proposed by the Snowater Association be approved.

2.14 (600 BLDG) LULU BUDGETS

RESOLVED, that the condominium budgets for the Lulu Condominium Association as proposed by the Snowater Association be approved.

2.15 (700 BLDG) KLONDIKE BUDGETS

RESOLVED, that the condominium budgets for the Klondike Condominium Association as proposed by the Snowater Association be approved.

2.16 (800 BLDG) SOLITAIRE BUDGETS

RESOLVED, that the condominium budgets for the Solitaire Condominium Association as proposed by the Snowater Association be approved.

2.17 (900 BLDG) CAPTAIN JACK BUDGETS

RESOLVED, that the condominium budgets for the Captain Jack Condominium Association as proposed by the Snowater Association be approved.

2.18 (1000 BLDG) SAWPIT BUDGETS

RESOLVED, that the condominium budgets for the Sawpit Condominium Association as proposed by the Snowater Association be approved.

2017 SW AGM MINUTES (draft) Page 4

2.19 (1100 BLDG) EQUINOX BUDGETS

RESOLVED, that the condominium budgets for the Equinox Condominium Association as proposed by the Snowater Association be approved.

2.20 (1200 BLDG) TRAPPER BUDGETS

RESOLVED, that the condominium budgets for the Trapper Condominium Association as proposed by the Snowater Association be approved.

2.21 (1400 BLDG) CLEARWATER BUDGETS

RESOLVED, that the condominium budgets for the Clearwater Condominium Association as proposed by the Snowater Association be approved.

2.22 (1500 BLDG) WHITE RAPID BUDGETS

RESOLVED, that the condominium budgets for the White Rapid Condominium Association as proposed by the Snowater Association be approved.

Meeting reconvened to record votes.

11. Voting Results - All resolutions were approved. Votes by individual building are as follows:

Building 100 All votes in favor of all resolutions

Building 100A All votes in favor of all resolutions

Building 200 All votes in favor of all resolutions

Building 300 All votes in favor of all resolutions

Building 400 All votes in favor of all resolutions

Building 500 All votes in favor of all resolutions

Building 600 All votes in favor of all resolutions

Building 700 Absent

Building 800 All votes in favor of all resolutions

Building 900 All votes in favor of all resolutions

Building 1000 All votes in favor of all resolutions

Building 1100 All votes in favor of all resolutions

Building 1200 All votes in favor of all resolutions

Building 1400 All votes in favor of all resolutions

Building 1500 All votes in favor of all resolutions

2017 SW AGM MINUTES (draft) Page 5

Building Chairs/Secretaries for 2018

Building 100 Sherry Buller/Vacant

Building 100A Bob Smith/Pat Smith

Building 200 Shea Ahna/Vacant

Building 300 Phil and Kim Decker/Vacant

Building 400 Jim Larson/Dave Vogt

Building 500 Tom Stuen/Karen Stuen

Building 600 Vacant/Richard Lee

Building 700 Moira Kennelly/Kent Bakke

Building 800 Betty Portfors/Jessica Aldous

Building 900 Vicki Look/Sandra Clarren

Building 1000 Liz Gallery and Laurie Shields/Ed Tebrock

Building 1100 Brian Williams/Chris Douglas

Building 1200 Bill Loring/Nic Roggeman

Building 1400 Jim Meith/Sandra Meith

Building 1500 Jan Fell/Lori Nordgulen

12. Good of the Order – Matters discussed included the need for increased staffing to accommodate increase in short term rentals, concern raised of private rentals being similar to running businesses on site - may be against declarations, question raised if property management companies are being charged any fees for business conducted at Snowater, concern of charcoal BBQs, interest in off leash dog area included in tennis court repurposing or if current big toy area is replaced, security cameras in common area swimming pools. Owner asked the status of the state legislation that was proposed some years ago regarding the revision of laws applying Condominium Associations.

Adjourned 8:55 p.m.

Respectfully submitted,

Mollie Pike, recording for

Tom Stuen, Secretary

Your 4 Season Mt. Baker Getaway

President’s 2019 AGM Report

The Board is happy and proud to report that Snowater is making headway in preparing for the future. After years of worry about Snowater’s aging infrastructure, previous boards started the process of building up our reserves to prepare for the refurbishment of our common facilities. After getting owner input, we set priorities and have now completed the majority of that work. I hope you’ve had a chance to tour the property recently to view the improvements that have been made. By repurposing our 4 tennis and 4 indoor courts and leaving equipment out 24-7 at all sites, we’ve seen more usage and received approval from owners & guests. Thank you for the funding and thanks to the staff for getting the projects done on time and on budget.

I want to congratulate Mike & Mollie on their commitment to make the co-manager concept work smoothly and to ensure that the Snowater staff is well supervised and focused on customer satisfaction. The result has been a well maintained Snowater that is running efficiently and regarded as a model community in the Mt. Baker area.

We have been warning you about the upcoming chimney chase and roof project that is now scheduled to begin next spring. Early estimates are higher than expected to complete the basic chimney chase rebuild, skylights and new roof. And that doesn’t include the remedial work to repair interior water damage, if found. We are planning 5 buildings per year starting with the Phase I buildings that have Barge roofs. Some buildings do not have enough capital to cover the basic work. So, the Board is recommending higher Capital Special Assessments for some buildings in 2020 and in 2021, if necessary, to cover the costs while leaving some in the kitty for future capital projects. The attached “Building Capital Reserve Status” shows the construction schedule and our rough calculations for the increase. We do not see the increase as the new norm; it is simply a necessity for the next year or so.

The other major challenge facing us is the growth in rental activity at Snowater. New buyers see the opportunity to offset quarterly costs by putting their unit into the rental game. Some 45 of 131 full share condos now rent their condos at least part of the time. This has placed additional strains on Snowater – office staff have been stretched and we have had to continue Resort Usage Fees to offset the cost of the Courtesy Patrol and 2020’s insurance rate hike. Our goal in the long term is to preserve Snowater’s unique character for owner–users. For that reason, we are cutting back our advertising activities next year until we can agree on a way to curtail short-term rentals.

Thank you for your ongoing support. The Board encourages you to attend the December 7 AGM to get more information on these two “hot topics.” If you cannot attend, we encourage you to vote “For” all the resolutions on your Proxy and get it to the Office by December 6.

Nic Roggeman, PresidentSnowater Association Board of Directors

2019 Snowater AGM Treasurer’s Report Tom Stuen 11-17-19

Snowater Association anticipates a small operating surplus at year end, with funds then on hand and receivables totaling about $2,100,000, including $1,600,000 held in 8 certificates of deposit. Building reserves will total about $1,300,000. No receivables are more than 30 days overdue. No accounts payable are overdue.

Due to the organization of Snowater into 17 separate legal entities (15 buildings and the Snowater and Timeshare Associations), the accounting for income and expenses is complex. After two years of accounting assistance from Avlon Finance, the details are now efficiently managed to properly account all income and expenses to the responsible entity.

2020 Snowater Operations Budget

The proposed $557,685 operating budget for 2020 is a 1.5 percent increase over 2019. It is expected that savings in electricity and accounting will balance small increases in other areas. See the attached 2020 Snowater Budget.

2020 Condo Operating Budgets

All buildings have a small operating surplus for 2019, except 1400 which had units in foreclosure. Nine buildings have small increases in operating assessments while six have reductions. These changes are mainly due to anticipated roof and dryer vent cleanings. See your attached building Budget.

2020 Snowater Capital Plan

In view of the major anticipated building expenses, the 2020 Capital Plan includes only $67,050 of capital expenses. To maintain the reserves, the assessments are increased 3.5%. In 2019 numerous major projects were completed, including the playground and sports court work, for a total expenditure of $140,000. See the attached 2020 Snowater Capital Plan.

2020 Building Capital Assessments

Of the three contractors who have expressed interest in the chimney chase replacement and reroofing work, only one has submitted a bid at the time of this report. Based on that bid, the Board proposes significant increases in capital assessments for the nine buildings with insufficient cash in reserve. Payment for the repair of water damaged structures may necessitate further assessments. See the attached Building Capital Reserve Status Report.

2020 Snowater Assessment Schedule

Due to the capital assessments, buildings 100 and 300 have large assessment increases. Seven buildings have 10 to 20% increases, and six buildings have minor changes. See the attached 2020 Snowater Assessment Schedule.

Building Capital Status (re: Chimney Chase/Roof Work)

Buildings in order of planned

construction

Capital Reserve End

2019-Q3

2019-Q4 Contribution

2019-Q4 Projected

Expenditures

Capital Reserves End 2019

2020 Planned Capital Bldg Assessment*

Capital Reserves End 2020

Capital Reserves End 2021

Topside Basic

Estimate**

Planned Slope

Repair***

Capital Reserve Left ****

Construction scheduled Mar – Oct

Recommended Spec Asses’t

Increase

What Years

300 $60,119 $3,747 $2,268 $61,598 $14,988 $76,586 $63,260 -$1,662 2020 $18,000 2020

400 $102,418 $5,875 $6,651 $101,642 $23,500 $125,142 $103,845 -$2,203 2020 $20,000 2020

200 $120,952 $4,000 $4,231 $120,721 $16,000 $136,721 $83,165 $37,556 2020 $0 2020

100 $58,424 $5,680 $2,083 $62,021 $22,720 $84,741 $83,165 -$21,144 2020 $30,000 2020

800 $103,780 $4,498 $3,765 $104,513 $17,992 $122,505 $103,845 $668 2020 $20,000 2020

600 $91,804 $5,125 $3,000 $93,929 $20,500 $114,429 $134,929 $83,165 $31,264 2021 $0

700 $61,745 $5,287 $3,000 $64,032 $21,164 $85,196 $106,360 $63,260 $21,936 2021 $10,000 2020 + 2021

500 $59,348 $3,500 $2,338 $60,510 $14,000 $74,510 $88,510 $63,260 $11,250 2021 $12,000 2020 + 2021

900 $81,780 $2,555 $2,507 $81,828 $10,220 $92,048 $102,268 $83,165 $8,883 2021 $10,000 2020 + 2021

1200 $68,399 $4,500 $3,000 $69,899 $18,000 $87,899 $105,899 $83,886 $4,013 2021 $10,000 2020 + 2021

1400 $123,962 $3,280 $2,533 $124,709 $18,515 $143,224 $161,739 $83,886 $77,853 2022 $0

100A $64,569 $4,103 $7,616 $61,056 $16,412 $77,468 $93,880 $83,165 $10,715 2022 $10,000 2020 + 2021

1500 $97,590 $2,850 $155 $100,285 $11,400 $111,685 $123,085 $83,165 $39,920 2022 $0

1000 $121,701 $10,700 $3,726 $128,675 $40,124 $168,799 $208,923 $83,165 $56,250 $29,384 2022 $0

1100 $107,481 $3,852 $3,000 $108,333 $15,408 $123,741 $139,149 $83,165 $18,750 $21,826 2022 $0

Totals $1,324,072 $69,552 $49,873 $1,343,751 $280,943 $1,624,694 $1,230,562 $75,000 $140,000

* 2020 Planned Capital Building Assessment = Building Capital Assessment + Special Assessment originally planned for each building at last BCC Meeting** Topside Basic Estimate = chimney chase rebuild, Hardie board + 50 Year Guarantee duroid shingles. Does not include extras (ie. possible interior work – T+M = $75 / hr + materials)*** Planned Slope Repair – To occur in 2020 or 2021 – based on estimate of $75,000, split 75/25 **** Capital Leftover = Capital Reserve projected at end of Prev Year minus Topside Basic Estimate (eg if work scheduled 2020, Capital End 2019 minus Topside Estimate for basics) and after the cost of the planned slope repair for buildings 1000 and 1100

Revised November 17, 2019 by Nic Roggeman

Snowater Association

2020 Budget

Jan - Dec 18

Actual

Jan-Dec

Projection

2019

Change 2019 Budget 2020 Budget

Operating Income/Expense

Income

600 · Operating Assessments

605 · SA Operating 447,195 445,980 (1,215) 454,148 457,908

609 · STSA Op Surcharge 58,670 54,988 (3,682) 59,237 59,727

611 · Building Operating 0 0 0 0 0

Total 600 · Operating Assessments 505,865 500,968 (4,897) 513,384 517,635

650 · Other Operating

651 · Printed Statement Fee 2 8 6 0 0

653 · Re-Key Income 157 213 57 200 200

654 · Gate Pass Income 1,100 1,410 310 1,000 1,000

655 · Resort Usage Fee 23,593 35,474 11,881 28,000 30,000

656 · Resort Usage Fees STSA 2,471 0 (2,471) 0 0

657 · Resale Certificates 5,820 4,820 (1,000) 2,500 3,000

658 · Late Fee Interest 1,779 1,439 (340) 1,500 1,500

659 · Late Payment Fee 2,544 1,951 (593) 2,000 2,000

660 · Fines 575 850 275 1,000 1,000

661 · Other Income 13,990 2,076 (11,914) 1,000 1,000

663 · Firewood Revenue 1,066 1,051 (16) 1,000 1,000

664 · Electric Vehicle Charge 0 160 160 0 100

694 · Bad Debt 0 0 0 (1,455) 0

Total 650 · Other Operating 53,098 49,453 (3,645) 36,745 40,800

Total Income 558,963 550,421 (8,541) 550,129 558,435

Cost of Goods Sold

700 · Cost of Goods Sold 761 0 (761) 1,000 750

Total COGS 761 0 (761) 1,000 750

Gross Profit 558,202 550,421 (7,781) 549,129 557,685

Expense

800 · Operating Expenses

810 · Staff Expenses

811 · Payroll Expenses - Admin

811(a1) · Salaries & Wages - Admin 48,411 48,691 280 49,759 51,750

811(a2) · Salaries & Wages-Courtesy Patrol 0 0 0 0 12,114

811(b) · Payroll Taxes 4,281 4,072 (210) 5,474 6,386

811(c) · Benefits 4,383 7,144 2,761 4,684 4,806

Total 811 · Payroll Expenses - Admin 57,076 59,908 2,832 59,917 75,056

812 · Payroll Expenses - Maintenance

812(a) · Salaries & Wages 138,545 143,400 4,855 146,218 139,953

812(b) · Payroll Taxes 15,974 15,890 (84) 17,546 16,794

812(c) · Benefits 29,010 32,707 3,697 29,244 30,004

Total 812 · Payroll Expenses - Maintenance 183,530 191,998 8,468 193,008 186,751

813 · Payroll Expenses - Housekeeping

813(a) · Salaries & Wages 21,518 16,384 (5,134) 20,248 21,058

813(b) · Payroll Taxes 3,073 2,281 (792) 3,000 2,948

813(c) · Benefits 901 846 (55) 884 907

Total 813 · Payroll Expenses - Housekeeping 25,492 19,511 (5,981) 24,132 24,912

814 · Other Staff Expenses

814(a) · Employee Training & Safety 3,402 3,335 (67) 3,000 3,000

Snowater

1

Snowater Association

2020 Budget

Jan - Dec 18

Actual

Jan-Dec

Projection

2019

Change 2019 Budget 2020 Budget

Snowater

814(b) · Employee Uniforms 0 0 0 1,500 1,500

Total 814 · Other Staff Expenses 3,402 3,335 (67) 4,500 4,500

Total 810 · Staff Expenses 269,499 274,750 5,251 281,557 291,220

815 · Housekeeping

816 · Cleaning Supplies 633 622 (11) 600 600

817 · Inv. Replacement (Consumable) 963 534 (429) 1,200 1,000

818 · Inv. Replace (Non-consumable) 199 0 (199) 300 200

Total 815 · Housekeeping 1,796 1,156 (640) 2,100 1,800

820 · Repairs and Maintenance

821 · R&M Condos 2,750 2,110 (640) 0 0

823 · Maintenance Supplies 3,017 2,929 (88) 4,000 3,000

824 · Equipment Maintenance 7,203 8,414 1,212 9,000 9,000

825 · Tree Removal 4,883 0 (4,883) 5,000 5,000

826 · Ext. Window Washing 851 905 54 905 905

827 · Roof Cleaning 0 0 0 800 200

829 · R&M Common Areas 16,603 19,801 3,197 12,000 12,000

Total 820 · Repairs and Maintenance 35,306 34,158 (1,148) 31,705 30,105

831 · Utilities

832 · Electricity

832(a) · Rec Bldg Electric 23,960 23,906 (54) 25,235 25,000

832(b) · Clubhouse Electric 23,711 25,486 1,776 31,930 29,000

832(c) · Common Electric 11,712 10,193 (1,519) 9,000 10,000

Total 832 · Electricity 59,383 59,585 202 66,165 64,000

833 · Propane

833(a) · Rec Bldg Propane 10,840 9,582 (1,257) 10,500 10,500

833(b) · Clubhouse Propane 9,735 10,116 382 10,000 11,000

833(c) · Common Propane 2,039 2,747 708 3,000 3,000

Total 833 · Propane 22,613 22,445 (168) 23,500 24,500

834 · Garbage 2,443 2,898 455 2,895 3,000

835 · Telephone / Internet 9,388 8,775 (613) 10,000 10,000

836 · Fuel 1,519 1,509 (10) 1,300 1,600

838 · Water 3,057 2,919 (138) 2,700 3,000

839 · Sewer 657 1,688 1,031 360 700

Total 831 · Utilities 99,060 99,820 760 106,920 106,800

840 · Insurance Expense 38,157 44,379 6,222 45,500 52,000

843 · Office / Admin Expenses

844 · Shipping and Postage 812 62 (750) 500 300

845 · Office Supplies 1,794 2,065 271 3,500 3,000

846 · Printing 489 494 4 1,000 600

847 · Bank Fees 1,236 964 (272) 1,200 1,000

849 · Dues and Subscriptions 2,214 3,571 1,357 3,000 3,000

Total 843 · Office / Admin Expenses 6,546 7,156 610 9,200 7,900

850 · Professional Fees

851 · Accounting 26,846 19,774 (7,072) 34,000 27,200

852 · Legal 1,338 14,635 13,298 5,038 8,060

853 · Reserve Study 3,000 0 (3,000) 1,410 1,900

854 · Board & Committee Expenses 4,345 4,376 31 3,500 3,500

Total 850 · Professional Fees 35,529 38,786 3,257 43,948 40,660

2

Snowater Association

2020 Budget

Jan - Dec 18

Actual

Jan-Dec

Projection

2019

Change 2019 Budget 2020 Budget

Snowater

856 · Pool

857 · Pool Supplies 6,783 10,244 3,461 9,500 10,000

858 · Pool Repairs 1,742 1,020 (722) 3,000 2,000

Total 856 · Pool 8,525 11,264 2,739 12,500 12,000

860 · Roads and Grounds 5,830 4,566 (1,263) 6,000 6,000

875 · Marketing 3,172 3,746 574 4,000 4,000

880 · Permits and Fees 2,433 278 (2,155) 2,000 2,000

890 · Travel 1,489 1,413 (75) 2,500 2,000

895 · Meals and Entertainment 924 358 (566) 900 900

905 · Taxes 233 333 100 300 300

907 · Misc. Expenses 1,041 0 (1,041) 0 0

Total 800 · Operating Expenses 509,539 522,164 12,625 549,129 557,685

Total Expense 509,539 522,164 12,625 549,129 557,685

Net Operating Income 48,663 28,258 (20,406) 0 0

3

Snowater Association

2020 Budget

Jan - Dec 18

Actual

Jan-Dec

Projection

2019

Change 2019 Budget 2020 Budget

Snowater

Capital Income Statement

Capital Income/Expense

Capital Income

625 · Capital Assessments

630 · SA Capital 108,685 107,629 (1,057) 109,600 113,120

638 · STSA Cap Surcharge 14,249 13,271 (979) 14,296 14,755

Total 625 · Capital Assessments 122,935 120,900 (2,035) 123,896 127,875

662 · Interest Income 7,028 14,540 7,512 3,478 14,000

Total Capital Income 129,963 135,440 5,476 127,374 141,875

Capital Expense

950 · Capital Expenses

955 · Major Repairs and Replacements 108,978 121,783 12,805 106,500 67,050

975 · Capital Cost of Labor 31,417 11,106 (20,311) 20,000 0

Total 950 · Capital Expenses 140,395 132,889 (7,506) 126,500 67,050

Total Capital Expense 140,395 132,889 (7,506) 126,500 67,050

Net Capital Income (10,432) 2,550 12,982 874 74,825

4

SNOWATER CAPITAL PLAN 2020

Project Budget

New signage – Interior & Exterior on Property $3,000

Sport Court Pickleball Fence - 4’ on 3 sides $4,000

New Outdoor Garbage Receptacles $6,000

New Picnic Benches – 10 $12,000

Adirondack Chairs – 8 $2,000

Maintenance Area Clean up – Fencing + Removal $10,000

Clubhouse – Main Hall Photo Art $2,000

New Lawn Tractor $6,500

Log Cabin – New Roof $14,250

Pool/Spa Spare Pumps – RB & CH $3,500

Replacement Tires for Skid Steer (airless) $3,800

Total $67,050

November 13, 2019

Project

1

2020 Snowater Assessments FINAL 11-17-2019, 12pm

Unit Size # units

2019 SA

Operating

Quarterly

Assessment

2020 SA

Operating

Quarterly

Assessment

2019 SA

Capital

Quarterly

Assessment

2020 SA

Capital

Quarterly

Assessment

2019 Bldg

Operating

Quarterly

Assessment

2020 Bldg

Operating

Quarterly

Assessment

2019 Bldg

Capital

Quarterly

Assessment

2020 Bldg

Capital

Quarterly

Assessment

2019 Bldg

Capital

Special

Quarterly

Assessment

2020 Bldg

Capital Special

Quarterly

Assessment

2019 Total

Quarterly

Assessment

2020 Total

Quarterly

Assessment

2019/2020

Variance $

L-1 Bedroom 6 493.64$ 497.72$ 119.13$ 122.96$ 137.80$ 147.03$ 212.00$ 212.00$ 166.66$ 666.66$ 1,129.22$ 1,646.37$ 517.14$

U-1 Bedroom 3 658.19$ 663.64$ 158.84$ 163.94$ 183.73$ 196.04$ 282.67$ 282.67$ 222.22$ 888.90$ 1,505.65$ 2,195.18$ 689.53$

2 Bedroom 3 822.73$ 829.54$ 198.55$ 204.93$ 229.67$ 245.05$ 353.34$ 353.34$ 277.79$ 1,111.11$ 1,882.07$ 2,743.97$ 861.90$

Quarter 7,404.58$ 7,465.88$ 1,786.96$ 1,844.35$ 2,066.99$ 2,205.44$ 3,180.00$ 3,180.00$ 2,500.00$ 10,000.00$

Annual 29,618.32$ 29,863.54$ 7,147.83$ 7,377.39$ 8,267.96$ 8,821.77$ 12,720.00$ 12,720.00$ 10,000.00$ 40,000.00$

8,821.77$ 12,720.00$ 40,000.00$

Unit Size # units

2019 SA

Operating

Quarterly

Assessment

2020 SA

Operating

Quarterly

Assessment

2019 SA

Capital

Quarterly

Assessment

2020 SA

Capital

Quarterly

Assessment

2019 Bldg

Operating

Quarterly

Assessment

2020 Bldg

Operating

Quarterly

Assessment

2019 Bldg

Capital

Quarterly

Assessment

2020 Bldg

Capital

Quarterly

Assessment

2019 Bldg

Capital

Special

Quarterly

Assessment

2020 Bldg

Capital Special

Quarterly

Assessment

2019 Total

Quarterly

Assessment

2020 Total

Quarterly

Assessment

2019/2020

Variance $

L-1 Bedroom 6 493.64$ 497.72$ 119.13$ 122.96$ 155.06$ 131.25$ 297.93$ 297.93$ -$ 170.45$ 1,065.75$ 1,220.31$ 154.56$

U-1 Bedroom 4 658.19$ 663.64$ 158.84$ 163.94$ 206.74$ 175.00$ 363.92$ 363.92$ -$ 227.27$ 1,387.69$ 1,593.77$ 206.08$

2 Bedroom 2 822.73$ 829.54$ 198.55$ 204.93$ 258.43$ 218.75$ 429.88$ 429.88$ -$ 284.09$ 1,709.60$ 1,967.20$ 257.60$

Quarter 7,240.04$ 7,299.98$ 1,747.25$ 1,803.36$ 2,274.19$ 1,925.01$ 4,103.00$ 4,103.00$ -$ 2,500.00$

Annual 28,960.15$ 29,199.92$ 6,988.99$ 7,213.45$ 9,096.77$ 7,700.04$ 16,412.00$ 16,412.00$ -$ 10,000.00$

7,700.04$ 16,412.00$ 10,000.00$

Unit Size # units

2019 SA

Operating

Quarterly

Assessment

2020 SA

Operating

Quarterly

Assessment

2019 SA

Capital

Quarterly

Assessment

2020 SA

Capital

Quarterly

Assessment

2019 Bldg

Operating

Quarterly

Assessment

2020 Bldg

Operating

Quarterly

Assessment

2019 Bldg

Capital

Quarterly

Assessment

2020 Bldg

Capital

Quarterly

Assessment

2019 Bldg

Capital

Special

Quarterly

Assessment

2020 Bldg

Capital Special

Quarterly

Assessment

2019 Total

Quarterly

Assessment

2020 Total

Quarterly

Assessment

2019/2020

Variance $

L-1 Bedroom 6 493.64$ 497.72$ 119.13$ 122.96$ 131.70$ 140.12$ 218.69$ 218.69$ -$ -$ 963.16$ 979.49$ 16.33$

U-1 Bedroom 3 658.19$ 663.64$ 158.84$ 163.94$ 175.60$ 186.82$ 396.68$ 396.68$ -$ -$ 1,389.31$ 1,411.08$ 21.77$

2 Bedroom 3 822.73$ 829.54$ 198.55$ 204.93$ 219.50$ 233.53$ 499.27$ 499.27$ -$ -$ 1,740.05$ 1,767.27$ 27.22$

Quarter 7,404.58$ 7,465.88$ 1,786.96$ 1,844.35$ 1,975.49$ 2,101.76$ 4,000.00$ 4,000.00$ -$ -$

Annual 29,618.32$ 29,863.54$ 7,147.83$ 7,377.39$ 7,901.96$ 8,407.02$ 16,000.00$ 16,000.00$ -$ -$

8,407.02$ 16,000.00$ -$

100 Building 2020 Assessments

100A Building 2020 Assessments

200 Building 2020 Assessments

Bldg Capital Special Assess Scheduled for:

2019, 2020

No Special Assessments Scheduled

No Special Assessments Scheduled

2020 Snowater Assessments FINAL 11-17-2019, 12pm

Unit Size # units

2019 SA

Operating

Quarterly

Assessment

2020 SA

Operating

Quarterly

Assessment

2019 SA

Capital

Quarterly

Assessment

2020 SA

Capital

Quarterly

Assessment

2019 Bldg

Operating

Quarterly

Assessment

2020 Bldg

Operating

Quarterly

Assessment

2019 Bldg

Capital

Quarterly

Assessment

2020 Bldg

Capital

Quarterly

Assessment

2019 Bldg

Capital

Special

Quarterly

Assessment

2020 Bldg

Capital Special

Quarterly

Assessment

2019 Total

Quarterly

Assessment

2020 Total

Quarterly

Assessment

2019/2020

Variance $

L-1 Bedroom 4 493.64$ 497.72$ 119.13$ 122.96$ 133.77$ 141.03$ 249.70$ 249.70$ 125.00$ 575.00$ 1,121.24$ 1,586.41$ 465.17$

U-1 Bedroom 2 658.19$ 663.64$ 158.84$ 163.94$ 178.37$ 188.05$ 332.93$ 332.93$ 166.67$ 766.67$ 1,494.99$ 2,115.23$ 620.23$

2 Bedroom 2 822.73$ 829.54$ 198.55$ 204.93$ 222.96$ 235.06$ 416.17$ 416.17$ 208.34$ 958.33$ 1,868.75$ 2,644.03$ 775.28$

Quarter 4,936.39$ 4,977.26$ 1,191.30$ 1,229.57$ 1,337.75$ 1,410.34$ 2,497.00$ 2,497.00$ 1,250.00$ 5,750.00$

Annual 19,745.55$ 19,909.02$ 4,765.22$ 4,918.26$ 5,350.98$ 5,641.35$ 9,988.00$ 9,988.00$ 5,000.00$ 23,000.00$

5,641.35$ 9,988.00$ 23,000.00$

Unit Size # units

2019 SA

Operating

Quarterly

Assessment

2020 SA

Operating

Quarterly

Assessment

2019 SA

Capital

Quarterly

Assessment

2020 SA

Capital

Quarterly

Assessment

2019 Bldg

Operating

Quarterly

Assessment

2020 Bldg

Operating

Quarterly

Assessment

2019 Bldg

Capital

Quarterly

Assessment

2020 Bldg

Capital

Quarterly

Assessment

2019 Bldg

Capital

Special

Quarterly

Assessment

2020 Bldg

Capital Special

Quarterly

Assessment

2019 Total

Quarterly

Assessment

2020 Total

Quarterly

Assessment

2019/2020

Variance $

L-1 Bedroom 8 493.64$ 497.72$ 119.13$ 122.96$ 139.71$ 129.80$ 203.39$ 203.39$ 95.34$ 349.57$ 1,051.21$ 1,303.44$ 252.24$

U-1 Bedroom 5 658.19$ 663.64$ 158.84$ 163.94$ 186.28$ 173.06$ 271.19$ 271.19$ 127.12$ 466.10$ 1,401.62$ 1,737.94$ 336.32$

2 Bedroom 3 822.73$ 829.54$ 198.55$ 204.93$ 232.85$ 216.33$ 338.98$ 338.98$ 158.90$ 582.63$ 1,752.01$ 2,172.40$ 420.39$

Quarter 9,708.23$ 9,788.61$ 2,342.90$ 2,418.14$ 2,747.66$ 2,552.68$ 4,000.00$ 4,000.00$ 1,875.00$ 6,875.00$

Annual 38,832.93$ 39,154.43$ 9,371.59$ 9,672.58$ 10,990.62$ 10,210.72$ 16,000.00$ 16,000.00$ 7,500.00$ 27,500.00$

10,210.72$ 16,000.00$ 27,500.00$

Unit Size # units

2019 SA

Operating

Quarterly

Assessment

2020 SA

Operating

Quarterly

Assessment

2019 SA

Capital

Quarterly

Assessment

2020 SA

Capital

Quarterly

Assessment

2019 Bldg

Operating

Quarterly

Assessment

2020 Bldg

Operating

Quarterly

Assessment

2019 Bldg

Capital

Quarterly

Assessment

2020 Bldg

Capital

Quarterly

Assessment

2019 Bldg

Capital

Special

Quarterly

Assessment

2020 Bldg

Capital Special

Quarterly

Assessment

2019 Total

Quarterly

Assessment

2020 Total

Quarterly

Assessment

2019/2020

Variance $

L-1 Bedroom 4 493.64$ 497.72$ 119.13$ 122.96$ 130.57$ 137.98$ 250.00$ 250.00$ 100.00$ 350.00$ 1,093.34$ 1,358.66$ 265.32$

U-1 Bedroom 2 658.19$ 663.64$ 158.84$ 163.94$ 174.10$ 183.98$ 333.34$ 333.34$ 133.33$ 466.67$ 1,457.80$ 1,811.57$ 353.77$

2 Bedroom 2 822.73$ 829.54$ 198.55$ 204.93$ 217.62$ 229.97$ 416.66$ 416.66$ 166.67$ 583.33$ 1,822.24$ 2,264.44$ 442.20$

Quarter 4,936.39$ 4,977.26$ 1,191.30$ 1,229.57$ 1,305.75$ 1,379.84$ 2,500.00$ 2,500.00$ 1,000.00$ 3,500.00$

Annual 19,745.55$ 19,909.02$ 4,765.22$ 4,918.26$ 5,222.98$ 5,519.35$ 10,000.00$ 10,000.00$ 4,000.00$ 14,000.00$

5,519.35$ 10,000.00$ 14,000.00$

Bldg Capital Special Assess Scheduled for:

2019, 2020

Bldg Capital Special Assess Scheduled for:

2019, 2020

Bldg Capital Special Assess Scheduled for:

2019, 2020

500 Building 2020 Assessments

300 Building 2020 Assessments

400 Building 2020 Assessments

2020 Snowater Assessments FINAL 11-17-2019, 12pm

Unit Size # units

2019 SA

Operating

Quarterly

Assessment

2020 SA

Operating

Quarterly

Assessment

2019 SA

Capital

Quarterly

Assessment

2020 SA

Capital

Quarterly

Assessment

2019 Bldg

Operating

Quarterly

Assessment

2020 Bldg

Operating

Quarterly

Assessment

2019 Bldg

Capital

Quarterly

Assessment

2020 Bldg

Capital

Quarterly

Assessment

2019 Bldg

Capital

Special

Quarterly

Assessment

2020 Bldg

Capital Special

Quarterly

Assessment

2019 Total

Quarterly

Assessment

2020 Total

Quarterly

Assessment

2019/2020

Variance $

L-1 Bedroom 6 493.64$ 497.72$ 119.13$ 122.96$ 124.72$ 131.04$ 208.34$ 208.34$ 133.33$ 133.33$ 1,079.15$ 1,093.38$ 14.23$

U-1 Bedroom 3 658.19$ 663.64$ 158.84$ 163.94$ 166.28$ 174.71$ 277.77$ 277.77$ 177.78$ 177.78$ 1,438.87$ 1,457.84$ 18.97$

2 Bedroom 3 822.73$ 829.54$ 198.55$ 204.93$ 207.86$ 218.39$ 347.22$ 347.22$ 222.23$ 222.22$ 1,798.59$ 1,822.30$ 23.71$

Quarter 7,404.58$ 7,465.88$ 1,786.96$ 1,844.35$ 1,870.74$ 1,965.51$ 3,125.00$ 3,125.00$ 2,000.00$ 2,000.00$

Annual 29,618.32$ 29,863.54$ 7,147.83$ 7,377.39$ 7,482.96$ 7,862.02$ 12,500.00$ 12,500.00$ 8,000.00$ 8,000.00$

7,862.02$ 12,500.00$ 8,000.00$

Unit Size # units

2019 SA

Operating

Quarterly

Assessment

2020 SA

Operating

Quarterly

Assessment

2019 SA

Capital

Quarterly

Assessment

2020 SA

Capital

Quarterly

Assessment

2019 Bldg

Operating

Quarterly

Assessment

2020 Bldg

Operating

Quarterly

Assessment

2019 Bldg

Capital

Quarterly

Assessment

2020 Bldg

Capital

Quarterly

Assessment

2019 Bldg

Capital

Special

Quarterly

Assessment

2020 Bldg

Capital Special

Quarterly

Assessment

2019 Total

Quarterly

Assessment

2020 Total

Quarterly

Assessment

2019/2020

Variance $

L-1 Bedroom 4 493.64$ 497.72$ 119.13$ 122.96$ 118.15$ 128.59$ 458.10$ 458.10$ 70.60$ 320.60$ 1,259.62$ 1,527.96$ 268.35$

U-1 Bedroom 2 658.19$ 663.64$ 158.84$ 163.94$ 157.53$ 171.44$ 610.80$ 610.80$ 94.13$ 427.47$ 1,679.49$ 2,037.29$ 357.80$

2 Bedroom 2 822.73$ 829.54$ 198.55$ 204.93$ 196.92$ 214.31$ 763.50$ 763.50$ 117.67$ 534.33$ 2,099.37$ 2,546.61$ 447.24$

Quarter 4,936.39$ 4,977.26$ 1,191.30$ 1,229.57$ 1,181.50$ 1,285.84$ 4,581.00$ 4,581.00$ 706.00$ 3,206.00$

Annual 19,745.55$ 19,909.02$ 4,765.22$ 4,918.26$ 4,725.98$ 5,143.35$ 18,324.00$ 18,324.00$ 2,824.00$ 12,824.00$

5,143.35$ 18,324.00$ 12,824.00$

Unit Size # units

2019 SA

Operating

Quarterly

Assessment

2020 SA

Operating

Quarterly

Assessment

2019 SA

Capital

Quarterly

Assessment

2020 SA

Capital

Quarterly

Assessment

2019 Bldg

Operating

Quarterly

Assessment

2020 Bldg

Operating

Quarterly

Assessment

2019 Bldg

Capital

Quarterly

Assessment

2020 Bldg

Capital

Quarterly

Assessment

2019 Bldg

Capital

Special

Quarterly

Assessment

2020 Bldg

Capital Special

Quarterly

Assessment

2019 Total

Quarterly

Assessment

2020 Total

Quarterly

Assessment

2019/2020

Variance $

L-1 Bedroom 2 493.64$ 497.72$ 119.13$ 122.96$ 117.30$ 136.01$ 143.37$ 143.37$ 70.57$ 308.66$ 944.00$ 1,208.72$ 264.72$

U-1 Bedroom 1 658.19$ 663.64$ 158.84$ 163.94$ 156.40$ 181.34$ 196.40$ 196.40$ 94.09$ 411.56$ 1,263.92$ 1,616.89$ 352.96$

2 Bedroom 7 822.73$ 829.54$ 198.55$ 204.93$ 195.50$ 226.68$ 238.95$ 238.95$ 117.62$ 514.44$ 1,573.35$ 2,014.54$ 441.20$

3 Bedroom 3 987.28$ 995.46$ 238.26$ 245.91$ 234.59$ 272.02$ 286.73$ 286.73$ 141.15$ 617.34$ 1,888.02$ 2,417.46$ 529.44$

Quarter 10,366.43$ 10,452.26$ 2,501.74$ 2,582.09$ 2,463.24$ 2,856.16$ 3,016.00$ 3,016.00$ 1,482.00$ 6,482.00$

Annual 41,465.73$ 41,809.04$ 10,006.96$ 10,328.35$ 9,852.95$ 11,424.63$ 12,063.99$ 12,064.00$ 5,928.00$ 25,928.00$

11,424.63$ 12,064.00$ 25,928.00$

Bldg Capital Special Assess Scheduled for:

2019, 2020

Bldg Capital Special Assess Scheduled for:

2019, 2020

600 Building 2020 Assessments

700 Building 2020 Assessments

800 Building 2020 Assessments

Bldg Capital Special Assess Scheduled for:

2019

2020 Snowater Assessments FINAL 11-17-2019, 12pm

Unit Size # units

2019 SA

Operating

Quarterly

Assessment

2020 SA

Operating

Quarterly

Assessment

2019 SA

Capital

Quarterly

Assessment

2020 SA

Capital

Quarterly

Assessment

2019 Bldg

Operating

Quarterly

Assessment

2020 Bldg

Operating

Quarterly

Assessment

2019 Bldg

Capital

Quarterly

Assessment

2020 Bldg

Capital

Quarterly

Assessment

2019 Bldg

Capital

Special

Quarterly

Assessment

2020 Bldg

Capital Special

Quarterly

Assessment

2019 Total

Quarterly

Assessment

2020 Total

Quarterly

Assessment

2019/2020

Variance $

L-1 Bedroom 0

U-1 Bedroom 2 658.19$ 663.64$ 158.84$ 163.94$ 154.27$ 182.09$ 222.17$ 222.17$ -$ 217.39$ 1,193.47$ 1,449.23$ 255.76$

2 Bedroom 4 822.73$ 829.54$ 198.55$ 204.93$ 192.83$ 227.61$ 277.72$ 277.72$ -$ 271.74$ 1,491.83$ 1,811.53$ 319.70$

3 Bedroom 3 987.28$ 995.46$ 238.26$ 245.91$ 231.40$ 273.13$ 333.26$ 333.26$ -$ 326.09$ 1,790.21$ 2,173.85$ 383.64$

Quarter 7,569.16$ 7,631.82$ 1,826.67$ 1,885.33$ 1,774.07$ 2,094.00$ 2,555.00$ 2,555.00$ -$ 2,500.00$

Annual 30,276.63$ 30,527.30$ 7,306.67$ 7,541.33$ 7,096.26$ 8,376.00$ 10,220.00$ 10,220.00$ -$ 10,000.00$

8,376.00$ 10,220.00$ 10,000.00$

Unit Size # units

2019 SA

Operating

Quarterly

Assessment

2020 SA

Operating

Quarterly

Assessment

2019 SA

Capital

Quarterly

Assessment

2020 SA

Capital

Quarterly

Assessment

2019 Bldg

Operating

Quarterly

Assessment

2020 Bldg

Operating

Quarterly

Assessment

2019 Bldg

Capital

Quarterly

Assessment

2020 Bldg

Capital

Quarterly

Assessment

2019 Bldg

Capital

Special

Quarterly

Assessment

2020 Bldg

Capital Special

Quarterly

Assessment

2019 Total

Quarterly

Assessment

2020 Total

Quarterly

Assessment

2019/2020

Variance $

L-1 Bedroom 6 493.64$ 497.72$ 119.13$ 122.96$ 138.38$ 120.21$ 209.64$ 209.64$ 448.77$ 448.79$ 1,409.56$ 1,399.31$ (10.24)$

U-1 Bedroom 1 658.19$ 663.64$ 158.84$ 163.94$ 184.50$ 160.27$ 271.85$ 271.85$ 598.38$ 598.39$ 1,871.76$ 1,858.09$ (13.67)$

2 Bedroom 5 822.73$ 829.54$ 198.55$ 204.93$ 230.63$ 200.35$ 334.06$ 334.06$ 748.00$ 747.98$ 2,333.97$ 2,316.86$ (17.11)$

Quarter 7,733.66$ 7,797.69$ 1,866.38$ 1,926.32$ 2,167.91$ 1,883.27$ 3,200.00$ 3,200.00$ 7,031.00$ 7,031.00$

Annual 30,934.65$ 31,190.77$ 7,465.51$ 7,705.28$ 8,671.63$ 7,533.08$ 12,800.00$ 12,800.00$ 28,124.00$ 28,124.00$

7,533.08$ 12,800.00$ 28,124.00$

Unit Size # units

2019 SA

Operating

Quarterly

Assessment

2020 SA

Operating

Quarterly

Assessment

2019 SA

Capital

Quarterly

Assessment

2020 SA

Capital

Quarterly

Assessment

2019 Bldg

Operating

Quarterly

Assessment

2020 Bldg

Operating

Quarterly

Assessment

2019 Bldg

Capital

Quarterly

Assessment

2020 Bldg

Capital

Quarterly

Assessment

2019 Bldg

Capital

Special

Quarterly

Assessment

2020 Bldg

Capital Special

Quarterly

Assessment

2019 Total

Quarterly

Assessment

2020 Total

Quarterly

Assessment

2019/2020

Variance $

L-1 Bedroom 6 493.64$ 497.72$ 119.13$ 122.96$ 119.97$ 111.91$ 240.75$ 240.75$ -$ -$ 973.49$ 973.34$ (0.15)$

U-1 Bedroom 0 -$

2 Bedroom 6 822.73$ 829.54$ 198.55$ 204.93$ 199.95$ 186.51$ 401.25$ 401.25$ -$ -$ 1,622.48$ 1,622.23$ (0.25)$

Quarter 7,898.20$ 7,963.60$ 1,906.09$ 1,967.30$ 1,919.53$ 1,790.49$ 3,852.00$ 3,852.00$ -$ -$

Annual 31,592.82$ 31,854.38$ 7,624.35$ 7,869.22$ 7,678.10$ 7,161.95$ 15,408.00$ 15,408.00$ -$ -$

7,161.95$ 15,408.00$ -$

900 Building 2020 Assessments

1000 Building 2020 Assessments

1100 Building 2020 Assessments

No Special Assessments Scheduled

Bldg Capital Special Assess Scheduled for:

2019, 2020

No Special Assessments Scheduled

2020 Snowater Assessments FINAL 11-17-2019, 12pm

Unit Size # units

2019 SA

Operating

Quarterly

Assessment

2020 SA

Operating

Quarterly

Assessment

2019 SA

Capital

Quarterly

Assessment

2020 SA

Capital

Quarterly

Assessment

2019 Bldg

Operating

Quarterly

Assessment

2020 Bldg

Operating

Quarterly

Assessment

2019 Bldg

Capital

Quarterly

Assessment

2020 Bldg

Capital

Quarterly

Assessment

2019 Bldg

Capital

Special

Quarterly

Assessment

2020 Bldg

Capital Special

Quarterly

Assessment

2019 Total

Quarterly

Assessment

2020 Total

Quarterly

Assessment

2019/2020

Variance $

L-1 Bedroom 7 493.64$ 497.72$ 119.13$ 122.96$ 138.66$ 115.44$ 250.00$ 250.00$ -$ 138.89$ 1,001.43$ 1,125.01$ 123.58$

U-1 Bedroom 2 658.19$ 663.64$ 158.84$ 163.94$ 184.88$ 153.92$ 333.33$ 333.33$ -$ 185.19$ 1,335.24$ 1,500.02$ 164.78$

2 Bedroom 5 822.73$ 829.54$ 198.55$ 204.93$ 231.10$ 192.40$ 416.66$ 416.66$ -$ 231.48$ 1,669.04$ 1,875.02$ 205.97$

Quarter 8,885.49$ 8,959.05$ 2,144.35$ 2,213.22$ 2,495.88$ 2,077.96$ 4,500.00$ 4,500.00$ -$ 2,500.00$

Annual 35,541.96$ 35,836.21$ 8,577.39$ 8,852.87$ 9,983.52$ 8,311.82$ 18,000.00$ 18,000.00$ -$ 10,000.00$

8,311.82$ 18,000.00$ 10,000.00$

Unit Size # units

2019 SA

Operating

Quarterly

Assessment

2020 SA

Operating

Quarterly

Assessment

2019 SA

Capital

Quarterly

Assessment

2020 SA

Capital

Quarterly

Assessment

2019 Bldg

Operating

Quarterly

Assessment

2020 Bldg

Operating

Quarterly

Assessment

2019 Bldg

Capital

Quarterly

Assessment

2020 Bldg

Capital

Quarterly

Assessment

2019 Bldg

Capital

Special

Quarterly

Assessment

2020 Bldg

Capital Special

Quarterly

Assessment

2019 Total

Quarterly

Assessment

2020 Total

Quarterly

Assessment

2019/2020

Variance $

L-1 Bedroom 7 493.64$ 497.72$ 119.13$ 122.96$ 117.65$ 126.60$ 181.00$ 247.97$ -$ -$ 911.42$ 995.24$ 83.82$

U-1 Bedroom 0 -$

2 Bedroom 7 822.73$ 829.54$ 198.55$ 204.93$ 196.09$ 211.00$ 301.67$ 413.28$ -$ -$ 1,519.05$ 1,658.75$ 139.71$

Quarter 9,214.57$ 9,290.86$ 2,223.77$ 2,295.19$ 2,196.17$ 2,363.20$ 3,378.73$ 4,628.73$ -$ -$

Annual 36,858.29$ 37,163.44$ 8,895.07$ 9,180.75$ 8,784.69$ 9,452.78$ 13,514.91$ 18,514.91$ -$ -$

9,452.78$ 18,514.91$ -$

Unit Size # units

2019 SA

Operating

Quarterly

Assessment

2020 SA

Operating

Quarterly

Assessment

2019 SA

Capital

Quarterly

Assessment

2020 SA

Capital

Quarterly

Assessment

2019 Bldg

Operating

Quarterly

Assessment

2020 Bldg

Operating

Quarterly

Assessment

2019 Bldg

Capital

Quarterly

Assessment

2020 Bldg

Capital

Quarterly

Assessment

2019 Bldg

Capital

Special

Quarterly

Assessment

2020 Bldg

Capital Special

Quarterly

Assessment

2019 Total

Quarterly

Assessment

2020 Total

Quarterly

Assessment

2019/2020

Variance $

L-1 Bedroom 6 493.64$ 497.72$ 119.13$ 122.96$ 135.91$ 111.90$ 178.13$ 178.13$ -$ -$ 926.80$ 910.71$ (16.09)$

U-1 Bedroom 0 -$

2 Bedroom 6 822.73$ 829.54$ 198.55$ 204.93$ 226.52$ 186.51$ 296.88$ 296.88$ -$ -$ 1,544.67$ 1,517.86$ (26.82)$

Quarter 7,898.20$ 7,963.60$ 1,906.09$ 1,967.30$ 2,174.53$ 1,790.49$ 2,850.00$ 2,850.00$ -$ -$

Annual 31,592.82$ 31,854.38$ 7,624.35$ 7,869.22$ 8,698.11$ 7,161.95$ 11,400.00$ 11,400.00$ -$ -$

7,161.95$ 11,400.00$ -$

TOTAL QTR 113,536.90$ 114,476.89$ 27,400.00$ 28,280.00$ 29,951.37$ 29,681.96$ 51,337.73$ 52,587.73$ 17,844.00$ 52,344.00$ 240,069.99$ 277,370.58$ 37,300.59$

TOTAL ANNUAL 174 454,147.59$ 457,907.56$ 109,600.00$ 113,120.00$ 119,805.47$ 118,727.83$ 205,350.90$ 210,350.91$ 71,376.00$ 209,376.00$ 960,279.96$ 1,109,482.30$ 149,202.34$

No Special Assessments Scheduled

1500 Building 2020 Assessments

No Special Assessments Scheduled

No Special Assessments Scheduled

1200 Building 2020 Assessments

1400 Building 2020 Assessments

12.07.2019

Maintenance Manager’s 2019 AGM Report

Capital Projects – Many things have been done to improve your enjoyment of Snowater: 1. Children’s Playground and Court area - A company was hired to install a new play

structure for ages 5-12 behind the Clubhouse. Staff then installed a perimeter to hold the wood chips and a full court basketball area with hockey nets and equipment.

2. Indoor Courts – Staff prepped and painted the walls within the racquetball/squash courts ahead of a flooring contractor who sanded, refinished the floors and added colored lines for other sports. A new adjustable basketball backboard was installed in one court along with painted-on soccer goals.

3. Path lighting – Staff installed lights between the Clubhouse and the 800 bldg, added a light in front of 100A and 2 additional lights between 800 and 900.

4. New railings will soon be installed on the Rec Bldg and Clubhouse upper decks.

Building Maintenance items – All maintenance items were completed this year including: 1. Power washing entries / back decks and touch-up painting 2. Dryer duct cleaning 3. Window washing 4. Chimney cleaning and roof power washing

Building Painting – Three buildings were painted this year – 100A, 800 and 1400.

Water Valve Project – Ben the Plumber has replaced the main/hot water tank valve and corrected the TPRV outfall lines in every unit. During the next phase of the project, we will replace the shut-off valves on each fixture but this will not require shutting down a building’s main water supply.

Tree Removal – 38 dead or damaged trees were cut down and removed from the grounds largely to clean up after the February 2016 storm.

Chimney Chase/Reroofing – during my tenure as carpenter, we discovered deficiencies with the chimney chase construction. Since the condo building roofs are due to be replaced, it was opportune to fix the chases and install new roofing together. This major project will begin next spring and continue for about 3 years, doing 5 buildings per year.

Security patrol – Due to the influx of private rentals and problems associated with them, Snowater hired a security person (Courtesy Patrol) for weekends and holidays to ensure the rules are followed and to encourage enjoyment for owners and guests.

Future infrastructure plans – PSE has informed the Glacier community that they will be replacing the main power feeds over the next few years.

Wishing everyone a fabulous holiday season and joyful new year!

Mike Gooch, Maintenance Manager

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I have an extensive business and financial background. I have served on numerous Corporate BODs and Homeowner Association Boards. I was the Controller for a large Alaska Native Corporation for nine years and then was the CEO for the following twenty years. I am now retired and have the time and desire to apply my skills to the needs of Snowater.

SNOWATER FULLSHARE OWNER or TIMESHARE UNIT VOTING MEMBER (“Owners”) PROXY FORM

ANNUAL GENERAL MEETING OF THE SNOWATER ASSOCIATION and EACH CONDOMINIUM ASSOCIATION