wentworth residents’ association annual general meeting march 30, 2011

Wentworth Residents’ Association

Annual General Meeting

March 30, 2011

www.mywentworth.com [email protected]

Agenda

• Opening Remarks

• Review Highlights from 2009 AGM

• 2010

– Operating Budget

– Planning

– Nominations & Elections for Directors

– Open Floor for General Membership Discussion


Board of Directors

• Directors*: Greg Hillaby

James Istvanffy

Greg Leusink

Barb Richardson

Nicole Sylvestre

• Secretary*: Liana Zingle

• Treasurer: Andrea Lanyi

• President: Sunil Joneja

* Denotes a vacancy for 2011


2009 AGM Review

• Held on March 24, 2010 at the Co-op

• 22 residents in attendance in addition to the

board members

• Meeting Highlights:

– Continuation of area maintenance through

Foothills Landscaping

– Landscaping enhancements

– General call for volunteers to serve as directors

– City of Calgary land management agreement

– Wexford incorporation into WRA


2010 Financial Review

Highlights

Financial position is sound

Current cash balance minus accounts payable is $95,000

2010 actual surplus was $29,000 higher than budgeted due to higher than budgeted payments from additional collections and new houses in Wentworth Glen


2010 Financial Review

2010 Budget 2010 Actual

Difference

Revenue $80,500 $117,415 $36,915

Expenses $70,000 $78,692 $8,692

Net Surplus $10,500 $38,723 $28,223


2010 Revenue Detail

2010 Fees Overdue Fees

Invoiced $116,400 $67,562

Paid $97,600 $24,528

Payment Rate 84% 36%


2010 Expense Detail

• Total expenses $78,693– $3,794 Snow removal– $56,386 Grass cutting, garbage removal, watering, and

planting– $4,990 Invoicing and other administration costs– $1,299 Insurance– $224 taxes– $12,000 Donation to West Springs School for playground


2011 New Business


2011 Budget Outlook

Expense Estimates

$70,000 Base Services $2,600 Plantings $4,000 Extra watering and maintenance $15,000 Estate signs, graffiti, painting $5,000 Snow Removal $1,300 Insurance $225 Property Tax $4,500 Administration (invoicing, CC and online fees) $5,000 Community Events---------------------------------------

$107,625 Total Expenses


2011 Budget Outlook

Revenue Projection

673 houses x $200 x 80% collection = $107,680

2011 Projected Net Surplus

$55

Sufficient cash flow to provide contingency and to consider area enhancements without further fee increase in 2011


Plans for 2011• Continuation of maintenance services

• Enhancements

– Renew bushes along 85th street fence line

– Prune and mulch around some trees

– Paint black metal fences

• Ongoing communication with City of Calgary regarding Landscape Management Agreement (approximately $2,000 per year)• Implementation of new collection policy for late fee payment

• Addition of area amenities (trash cans, benches)

• Approach Wexford to merge into the Association

• Community events application process


Community Events

• Event Criteria• Yearly or Per Event Budget• Special Requests• Frequency

• Updated website during the year• Subscribe to be notified of

upcoming events and changes via email

• How to Reach Us– www.mywentworth.com

– [email protected]


Call for Directors

• 2 year term open for all Wentworth

resident’s

• 1 year term remains for president and

treasurer position


Questions? Concerns?Comments?

wentworth residents’ association annual general meeting march 30, 2011

Documents