Long Lake / Spring Meadows Homeowners Association

Annual MeetingOctober 7, 20097 PM

Wass Elementary SchoolMedia Room

WELCOME

Agenda Introductions – Lisa Nalette Financial review – Roberta Masters Association accomplishments – Lisa Nalette Document revisions

Association By-laws Building and Use Restrictions

Welcome Wagon – new neighbors Water main replacement report (City of Troy) – Roger Labataille Projected 2009 - 2010 Budget Board member volunteers Mail box update Dues raffle New business Questions and comments Adjournment

INTRODUCTIONS

IntroductionsPRESIDENT – Lisa Nalette

VICE PRESIDENT – Sandy Paci

TREASURER – Roberta Masters

SECRETARY – Mary Tsacoumangos

BOARD MEMBERS: Tom Field, Alex Ignasiak, Richard Kruszewski,Matt Kukla, Roger Labataille, Greg Larson, and Faris Qussar

FINANCIAL REVIEWFinancial Status

Balance Sheet HandoutQuestions & Answers

ACCOMPLISHMENTS

Association Accomplishments 2008 - 2009Reduced cost of landscaping services by competitively bidding to three

different companiesResourced pond service after increased complaints from homeownersMaintained current dues in a declining economyDocuments revised, made available on web site, and presented to the

AssociationKept Board as all-volunteer to minimize management fees to the

AssociationReceived proof from Oakland County that the pond is owned by the

Association Association activities

DOCUMENT REVIEW

Document ReviewBy-laws were revised per last year’s annual meetingBuilding and Use Restrictions were also revised per last

year’s annual meetingIntent is to make the Association current with City and

State regulations and to insure the protection of the Association as a whole

Board reviewed documents extensively to insure that homeowners’ wishes would be incorporated into the revisions

Treasurer’s ReportBalance Sheet

2006 2007 2008 2009Dues Collection=September 1- August 31

Beginning Balance $19,667.85 $23,664.87 $21,912.21 $27,093.00

Expenses YTDMowing Service ($7,350.00) ($4,069.00) ($3,724.00) (3,790.50)Association Insurance Policies ($2,629.00) ($3,353.00) ($3,353.00) ($3,280.00)Landscape Services ($850.00) ($175.00)Mailbox Replacements Outstanding ($1,387.75) ($1,387.50)Beautification Day ($378.59) ($240.00) ($167.93) ($98.86)Pond Care ($375.00) ($375.00) ($1,400.00) ($1,800.00)Community Relations Activities* ($473.40)Gift to Former BoardNew ChecksMailings (stamps and copies) ($1,233.79) ($119.16) ($83.03) ($259.89)Legal Fees ($315.00)Service Charges/NSFBank Acct ($100.00)Miscellaneous charges ($178.20) ($175.00) ($440.00)Subdivision Activities ($60.00)Website/Computer Tech Update ($540.57)Special Assessed Pond Repairs ($1,025.00) ($650)

Total Expenses ($13,642.98) ($9,081.16) ($11,465.71) ($11,647.32)

Income YTDDues Collected $17,640.00 $7,328.50 $16,646.50 $8,886.75

Ending Balance $23,664.87 $21,912.21 $27,093.00 $24,332.43

*2 parades, directory, Ice Cream Social

Road Rally, Homeowner's Annual Meeting

Treasurer’s Report (Continued)Current Association Balance $24,332.43 Remaining Expenses for 2009 Mowing ($1,795.50)

Legal services ($2,000.00) Community Relations ($550) Mailings etc ($300) Landscape ($250) TOTAL ($4,895.50)

Carry over into 2010 Fiscal Year (09/2009-08/2010) $19,436.93

Estimated Expenses/Budget 2009-102009 2010

Insurance $4,000 $4,000Lawn Mowing (28 @ $266) $7,600 28 @ $210 $5,880Community Relations* $550 $550Landscaping $1,000 $1,000Pond Care $2,000 $2,100Beautification Day $500 $500Mailings/Office $800 $800Website/Computer Technology $150 $500Legal Services $2,000 $2,000Total $18,600 $17,330

*2 parades, directory, Ice Cream Social

Road Rally, Homeowner's Annual Meeting

Carry Over $19,444 19,436.93

Standard Fee Houses 185 * $75 $13,875 $13,875

Working Capital 2009 $33,319 2010 $33,311.93Estimated Costs 2009 ($18,600) 2010 ($17,330)

Estimated Money- Reserve End Reserve 2009 $14,719 Reserve 2010 $15,981.93

Frequently Asked QuestionsWhy were the documents revised? Who revised them?What did we change?What are the next steps?When is the effective date for the revisions?Why should the Association adopt the revisions?What happens if the Association doesn’t adopt the

revisions?

Examples and Benefits of Revising theBy-laws / Building and Use RestrictionsSimilar to estate planning – necessary to update every so oftenClarifies the rules and regulations that we have all agreed to

live by in the AssociationConsolidated three different sets of documents into one and

made them easier to understand and followAdded protection for three empty lots (near farmhouse on

Long Lake Road) so that future homes built will follow current architectural character of our Association

Minimizes Association dues by including Sections 3 & 4 of Long Lake Meadows as dues collections cannot be currently enforced

Questions and Commentsfor the Attorney?

Dickinson & Wright, PLLCMark Makower, Attorney38525 Woodward Avenue, Suite 2000

Bloomfield Hills, MI 48304

Agenda (Continuation)

Welcome Wagon – new neighborsWater main replacement report (City of Troy) – Roger LabatailleProjected 2009 - 2010 BudgetBoard member volunteersMail box updateDues raffleNew business Questions and commentsAdjournment

WELCOME WAGON

WATER MAIN REPORT

PROJECTED2009 – 2010 BUDGET

Seeking Volunteers

Now it is your chance to be involved . . .To have fun . . .Meet new people . . .With a very small time commitment . . .

Do we have any volunteers to be members onthe Homeowners Association Board?

MAIL BOX UPDATE

Drawing for $75 dues reimbursement(homeowners in Sections 3 and 4 are exempt)

and

Bonus drawing for $50 gift card to eitherHome Depot or Lowe’s – winner’s choice!

(must be present to win)

NEW BUSINESS

Long Lake / Spring Meadows Homeowners Association

Questions and comments can be sentto the Board via the web site:www.llsmha.org

THANK YOU FOR COMING!