west market at reston town center annual meeting west market community association october 18, 2012
TRANSCRIPT
West Market
At Reston Town Center
Annual MeetingWest Market Community Association
October 18, 2012
West Market
At Reston Town Center
Confirmation of Quorum
West Market
At Reston Town Center
Message from President• Apologies for recorded
presentation, out of town on business trip not able to dial in
• Feel free to ask board members present any questions or email me:
West Market
At Reston Town Center
Meeting Agenda
• Review Organizational Structure
• Recognizing Volunteers/Management
• Annual Report: State of West Market
• Election of New Board Members
• Approval of the 2011 Minutes
• Open Forum
West Market
At Reston Town Center
Organizational Structure
• West Market is NOT a member of Reston Association• RTCA – Reston Town Center Association
– Overall governing body WMCA pays them annual dues– They own and maintain the pond– They run the Design Review Board
• West Market Community Association– The group holding this meeting– All residents are members (Only owners can vote)– Maintains overall community infrastructure – all streets
• Condominium Associations– Lincoln Park, Madison Park– Have their own board of directors and assessments– Maintain their buildings and associated footprints
West Market
At Reston Town Center
Community Volunteersand Management
West Market
At Reston Town Center
2012 Board of Directors
• David Wiseman, President
• Nancy Truax, VP Administration
• Frank Ritzenberg, VP Operations
• Scott Buttrick, Director
• Hugh Rodell, Treasurer
• Mary Hagan, Secretary
• Bob Etheredge, Director
West Market
At Reston Town Center West Market Committees/Organizations
Committees/OrganizationActivities
BudgetCommunity Clean Up
LandscapingSpeed Abatement
PetRTCAARCH
WATCH
ChairCarol Welsh;
Grace YakubisinAmanda Sutton
Hugh RodellDavid AdamuskoFrank Ritzenberg
Scott ButrickAlyson Rod
Robert GoudieRobert Goudie
All are members
West Market
At Reston Town Center
Clubs
• Bike Club (Tom Raezer, Chair)
• Garden Club (Peg O’Brien, Chair)
• Kids Club (Amanda Sutton, Chair)
• Yoga Club (Sunny Ho, Chair)
• Movie Club (Linda Graziano, Chair)
West Market
At Reston Town Center
Service First Management
• Michelle Hawkins, Property Manager• Karen Fegani, On-Site Manager• Work at the direction of the Board– Handle community accounting, invoice
processing, and on-site management– Contact for renting club house and
addressing community concerns– Primary liaison with vendors– Gatekeeper on covenants enforcement
West Market
At Reston Town Center
Annual Report:
State of West Market
West Market
At Reston Town Center
Overview of 2012
• Overall quiet year– No major projects started– Some pool worker issues, modified contract to address these
• Continued strong focus on good repair covenants– Critical as community ages
• Continued the Clubhouse 24/7 policy– Good success/use– Clubhouse holding up fine
– Grills have been very popular
• One CIR project – speed limit and children playing signs
West Market
At Reston Town Center
Community Events
• Continue themed events:– Spring/Fall yard sales – Children’s Spring egg hunt– Summer Party– 2nd Il Fornaio appreciation night (open to others)– 4th Doggie Pool Party– Oktoberfest– Children’s Halloween Party – Children’s Holiday Party – Adult Holiday Party ( adding paid help )– Super Bowl Party ( adding paid help )
West Market
At Reston Town Center
Pond/Drilling/Hospital• RTCA took over pond last year
– Regular maintenance by RTCA– Added new “No Fishing” signs
• Water main expansion project– WM easement granted for $5K– Original contractor went bankrupt = delay– Expected to last 2 more years
• Hospital planning major expansion– New stoplight at New Dominion and Town Center Drive– Working with Hospital on an easement – compensation– Considering potential traffic mitigation approaches
West Market
At Reston Town Center
FY 2013 Budget• $3 assessment increase: $113/month
– $139/month for Park Place (landscaping fee +$1)– Condo fees separate– Driven by contractual increases in services and scheduled R&R increases
• Legal – Reduced by $5000
• Trees– Established a new $10K per year reserve line item for trees– Paid for by reducing annual landscape non contract budget
• 2012 Operational Surplus ~$26,000 – Goes Into Reserves– Very low snow removal costs (budget $20K including road cleaning )– Lower than expected legal fees– This surplus excludes previous bad debt writedown collections (~$7000 in additional surplus also
goes into reserves but this just offsets similar deficit from writedown period)
• Bad Debt Update– Policy on collection unchanged - liens and wage attachment – Very successful this year collecting previous accounting writedowns
• Other operational and reserve items essentially unchanged; no reduction in service levels
West Market
At Reston Town Center
’12-’13 Reserves
• Operating Reserve: no change– $72K aligns with auditor recommendation
• CIR: every year to date funded w/o assessment increase– Projected balance of +/- $50K– This is a bit higher than we desire but held off on any significant
new projects pending tree plan
• Repair and Replacement Reserve– Increased tree maintenance line item by $10K for FY13– Balance remains above independent study recommendation– Next independent reserve study FY15, last anticipated before
major road repaving is undertaken
West Market
At Reston Town Center
Budget Going Forward
• Expense line streamlined– Material, future operational savings unlikely– Contact renewals upcoming
• Built-in 3-5% annual increase in contribution to R&R– Original plan was this would be covered by increasing interest
income but low rates have actually driven down interest income from ~$44K to about $24K even though balances are much higher
– Has been and should remain a top Board priority– Discipline: Equity cannot subsidize operations
• So future assessment increases likely
West Market
At Reston Town Center
Other Future Items• New neighborhood signage – more attractive & consolidate• Possibly add electronic speed warning signs• Streetlight pole appearance – possible painting or other change• Consider shoveling of sidewalk areas near entrances for safety• Possibly new entrance medians near Hospital and Verasign (**)• Possibly a children’s playground (**)• Possibly a permanent grill
• Tree plan (**)– Remove/Replace/Crowning some trees; growth inhibitor; – Build into new reserve line item
• Private lot landscaping program (**)– Condos: LP resolved; MP unresolved– PP landscaping service levels some interest in increasing– Trafalgar/Christopher maintenance
** Community meetings would be part of decision making process
West Market
At Reston Town Center
Appeal for E-mail Addresses
• Management keeps strictly confidential– Neither Board members nor outsiders get access
• Important communication tool– Newsletter only quarterly
• Use e-mail for:– Snow removal updates; clear street parking– Augment newsletter (e.g., parking stickers, garage sales,
reminders on calendared events, street cleaning, etc.)– WATCH and other community notices – Emergencies
West Market
At Reston Town Center
State of West Market
• Financial house in order–Management, auditor, and engineer (reserve
study) all in agreement
• Poised to handle capital needs in our future with strong reserves
• Big focus this year on trees and possible community improvements
West Market
At Reston Town Center
Thanks Back to Live Meeting• Once again feel free to ask board
members present any questions or email me:
West Market
At Reston Town Center
Approval of the 2011 Minutes
West Market
At Reston Town Center
Election of New Board Members
West Market
At Reston Town Center
Three Open Seats
• Wiseman, Truax and Ritzenberg up• Two-year terms• If more than 3 candidates:
– All candidates allowed to make brief remarks– Then we’ll vote for up to 3 people– Any ballot with more than 3 names checked or written will be
invalid – SFMC will count; two residents to monitor/help with the count
• If 3 or less, move by acclamation– Board will appoint any vacancies
West Market
At Reston Town Center
Candidates
• Announced candidates:
•Candace Petersen•David Wiseman – On Business Travel
•Greg Davis
• Samuel Wilson
• Any other nominations from floor?
West Market
At Reston Town Center Candidates:Vote For Up To 3
Candace Petersen
David Wiseman
Greg Davis
Samuel Wilson
West Market
At Reston Town Center
Open Forum
West Market
At Reston Town Center
Thank you for coming
Annual MeetingWest Market Community Association
October 18, 2012