Cardinal Management Group, Agent 4330 Prince William Parkway, Suite 201 Woodbridge, Virginia 22192 703-569-5797
www.hcrafairfax.org
BOARD OF DIRECTORS MEETING
October 15, 2020 - 7:00 p.m. Visit Zoom.us or Follow the
Virtual Meeting Link: CLICK HERE Meeting ID: 819 6706 6398
Password: 5492
AGENDA
1. Call to Order - 7:00 p.m.
2. Homeowner’s Forum – 7:01 p.m. (Limited to 5 minutes per owner)
3. Approval Draft Minutes - 7:05 p.m. A. September 17, 2020 Board Meeting Exhibit A Review/Act
4. Officer’s Reports - 7:10 p.m. - Annual Meeting Preparation Update - Website Back End Update - Investment Broker Manager Change
5. Management Report - 7:20 p.m. A. Financials Exhibit B Review
6. Unfinished Business - 7:30 p.m. A. Landscaping – Clubhouse Front Exhibit C Discuss/Act
7. New Business - 7:50 p.m. A. Draft FY2021 Budget Exhibit D Discuss/Act
8. Executive Session - 8:50 p.m. A. Legal Correspondence Exhibit E Info Only B. Delinquency Report Exhibit F Info Only C. Collections Report Exhibit G Info Only
9. Reconvene Open Session - 8:59 p.m.
10. Adjournment - 9:00 p.m.
Next Meeting Date: November 19, 2020
TABLE OF CONTENTS
HAMPTON CHASE RECREATION ASSOCIATION
Management Report
October 15, 2020
Table of Contents
1. Management Report ...........................................................................................1
2. Draft Minutes .....................................................................................................3
3. Financials ...........................................................................................................6
4. Lancaster Proposal ...........................................................................................14
5. Draft FY2021 Budget ......................................................................................15
EXECUTIVE SESSION
1. Legal Correspondence .....................................................................................23
2. Delinquency List ..............................................................................................24
3. Collections Report ...........................................................................................25
HAMPTON CHASE RECREATION ASSOCIATION
MANAGEMENT REPORT
BOARD OF DIRECTORS MEETING
October 15, 2020
This Management Report has been prepared by Cardinal Management Group, Inc., and is submitted to the
Hampton Chase Recreation Association Board of Directors by Candace Lewis, CMCA®, AMS®,
Community Manager. If a Board member has any questions on the financial statements or any item in
this report, please contact Management prior to the meeting to enable Management to perform
research, if required.
ACTION / DISCUSSION ITEMS
ADMINISTRATIVE 1. DRAFT MINUTES EXHIBIT A
2. FINANCIAL REPORTS EXHIBIT B
UNFINISHED BUSINESS 1. LANDSCAPING – CLUBHOUSE FRONT EXHIBIT C
NEW BUSINESS 1. DRAFT FY2021 BUDGET EXHIBIT D
MANAGEMENT REPORT NARRATIVE AND INFORMATION
A. ADMINISTRATIVE
1. Minutes - The draft minutes for the Board meeting held on September 17, 2020, are enclosed as
EXHIBIT A. For Board review and approval.
2. Financials – A year to date budget report as well as the financial statement and general ledger of
income and expenses for the Association through the close of business on August 31, 2020, are
enclosed as EXHIBIT B.
Administrative Month-to-Date
Expense Variance
Maintenance Month-to-Date
Expense Variance
Utilities-Others Month-to-Date
Expense Variance
$5,438 ($1,334) $11,320 $2,266 $1,901 ($88)
Administrative Year-to-Date
Expense Variance
Maintenance Year-to-Date
Expense Variance
Utilities-Others Year-to-Date
Expense Variance
$36,716 $2,770 $85,052 $10,438 $14,097 $2,394
Operating Cash on Hand Members’ Equity $72,273 $33,896
Assessment Receivable Replacement Reserve Cash & Investments
$1,258 $256,596
Money Market Balance Replacement Reserve Equity
$61,596 $250,712
1
B. UNFNISHED BUSINESS
1. Landscaping – Clubhouse Front – Management met with Ms. Marshall and Lancaster on
September 11, 2020, to discuss transplanting existing grasses to the fence line, as well as
obtaining an estimate for azaleas to fill the front beds. Enclosed as EXHIBIT C, is a proposal
for installation as prepared by Lancaster. For Board discussion, review and approval.
C. NEW BUSINESS
1. Draft FY2021 Budget – Enclosed as EXHIBIT D, is the Draft FY2021 Budget as prepared by
Cardinal Management Group, Inc. Management request the Board provide any modifications and
finalize the budget no later than November 15th so that Management has enough time to order the
annual invoices for mailing. For Board discussion and approval.
D. EXECUTIVE SESSION
1. Legal Correspondence - Enclosed as EXHIBIT E is correspondence from Segan, Mason &
Mason. For Board information and discussion.
2. Delinquency List - The delinquency list is enclosed as EXHIBIT F as presented by Management.
For Board information only.
3. Collections Report - Enclosed as EXHIBIT G, is the collections report as presented by Raymond
A. Ceresa, P.C. For Board information only.
Investments Amount Maturation Date MS – Goldman Sachs $25,000 09/16/20 MS – Congress BK $90,000 10/16/20
2
HAMPTON CHASE RECREATION ASSOCIATION
Board of Directors Meeting Minutes
September 17, 2020
DRAFT
Page 1 of 3
BOARD MEMBERS PRESENT: 1 Adrea Marshall President 2 David Lee Vice President (virtually via Zoom) 3 David Gundlach Secretary (virtually via Zoom) 4 David Klain Member at Large 5 Brad Mason Treasurer (virtually via Zoom) 6 7
HOMEOWNERS PRESENT: (virtually via Zoom) 8 Ro Burford 9 Martina O’Connor 10 Klara Podgorska 11 12
OTHERS PRESENT: 13 Candace Lewis Cardinal Management Group, Inc. – Property Manager (virtually 14
via Zoom) 15 Patrick Renzi Morgan Stanley Rep 16 17
1. CALL TO ORDER/VERIFICATION OF QUORUM 18
19 Ms. Marshall called the meeting to order at 7:04p.m. noting the presence of a quorum. This 20
meeting is being held with two Board members physically present at the meeting place and 21 everyone else via Zoom electronic communications in accordance with the Virginia Property 22 Owners’ Association Act (§ 55.1-1816) due to the state of emergency called by Governor Ralph 23 Northam on 27 March 2020 as a result of the continued spread of COVID-19. 24 25
2. COMMUNITY OPEN FORUM 26
27 Nothing discussed. 28 29
3. APPROVAL OF DRAFT MINUTES 30
31 MOTION: Mr. Gundlach motioned to approve the 20 August 2020 meeting minutes as 32 presented. The motion was seconded by Ms. Marshall and passed unanimously. 33 34
4. OFFICER’S REPORT 35
36 A. Ratification of Board Appointment. Andy Kalnins resigned his Board director position on 26 37
August 2020. His normal term would have been up in May 2020, but due to the delay of the 38 annual membership meeting until November 2020, there remains a vacancy. According to the 39 HCRA Bylaws (Article VI, Section 3), “In the event of death, resignation, or removal of a 40
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HAMPTON CHASE RECREATION ASSOCIATION
Board of Directors Meeting Minutes
September 17, 2020
DRAFT
Page 2 of 3
Director, his successor shall be selected by the remaining members of the Board and shall 41 serve for the unexpired term of his predecessor.” 42 43 MOTION: Mr. Gundlach motions to select Brad Mason as a Hampton Chase Recreation 44 Association Board director filling the officer position of treasurer. The motion was 45 seconded by Ms. Marshall and passed unanimously. 46 47
B. Annual Meeting Preparation Update. Ms. Marshall presented updated information for the 48
2020 HCRA Annual Meeting preparations. 49 50
C. Website Backend Update. Ms. Marshall presented updated information for the backend 51 update and discussed rectification for any current Board login issues. 52
53 D. Clubhouse Usage – Event Cleanings. Ms. Marshall presented and the Board discussed 54
information regarding options to reopen clubhouse this fall for renting and any associated 55 cleanings. No decision was made, but the Board will take up the matter again in October. The 56 clubhouse remains closed to group gatherings. 57
58
5. MANAGEMENT REPORT 59
60 Management presented the management report, including financials. Kolas Contracting has 61
repaired the damaged ceiling above the guard desk. Management has authorized High Sierra to 62 begin winterizing the pool. Management is awaiting any feedback the Board may have regarding 63 the backend of the website before taking the site live to the membership. 64 65
6. UNFINISHED BUSINESS 66
67 A. Pool Contract Renewal. The Board discussed the renewal contract pricing for pool 68
management services from High Sierra Pools for the 2021 pool season. The 2020 High Sierra 69 Pools contact is $64,400, and the 2021 $69,000 contract would comprise a 7% increase. 70 Management has heard back from a few vendors that they would be able to bid in October as 71 they are in the process of winterizing their existing pools. 72 73 MOTION: Mr. Gundlach motions to approve the High Sierra Pools Swimming Pool 3-Year 74 Management Agreement for $69,000 for 2021, $72,000 for 2022, and $75,000 for 2023 to be 75 funded from operating line item GL61150 POOL CONTRACT. The motion was seconded by 76 Ms. Marshall and passed unanimously. 77
78
7. NEW BUSINESS 79
80 A. Landscaping – Clubhouse Front. Management met with Ms. Marshall and Lancaster on 81
4
HAMPTON CHASE RECREATION ASSOCIATION
Board of Directors Meeting Minutes
September 17, 2020
DRAFT
Page 3 of 3
September 11th to discuss transplanting existing grasses to the fence line and around the 82 baby pool enclosure, as well as obtaining an estimate for azaleas to fill the front beds. 83 Lancaster is working on a sketch and an estimate. 84
85 11. ADJOURNMENT 86
87 MOTION: Ms. Marshall adjourned the meeting at 7:59 p.m. 88
Submitted:
David Gundlach ___________________________________
David Gundlach, Board Secretary
5
HAMPTON CHASE RECREATION ASSOCIATION 10/07/2020 10:38 AM Page: 1STATEMENT OF INCOME AND OPERATIONS
09/30/2020
c/o CARDINAL MANAGEMENT GROUP CARDINAL MANAGEMENT4330 PRINCE WILLIAM PKWY - 201 4330 Prince William ParkwayWOODBRIDGE VA 22192 Suite 201
Woodbridge VA 22192-5361
ACCT #
ACCOUNT TITLE
-------- ACTUAL
CURRENT BUDGET
-------- VARIANCE
-------- ACTUAL
YR-TO-DATE BUDGET
---------- VARIANCE
ANNUAL BUDGET
INCOME
30100 ASSESSMENT INCOME - ACCRUAL 19,159 19,167 (8) 172,429 172,503 (74) 230,000 OTHER INCOME - SCHEDULE 1 388 775 (387) 8,053 23,535 (15,482) 24,775
¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ TOTAL INCOME 19,547 19,942 (395) 180,482 196,038 (15,556) 254,775
OPERATING EXPENSES
ADMINISTRATIVE - SCHEDULE 2 5,438 4,104 (1,334) 36,716 39,486 2,770 51,104 MAINTENANCE - SCHEDULE 3 11,320 13,586 2,266 85,052 95,490 10,438 103,437 UTILITIES AND OTHER - SCHEDULE 4 1,901 1,813 (88) 14,097 16,491 2,394 22,434
¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ TOTAL EXPENSES 18,659 19,503 844 135,865 151,467 15,602 176,975
¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯
INCOME (LOSS) BEFORE RESERVES 888 439 449 44,618 44,571 47 77,800
90000 TRANSFER TO RESERVES - ACCRUAL 6,192 6,192 0 55,728 55,728 0 74,300 90005 TRANSFER RSRV INTEREST 388 292 (96) 2,893 2,628 (265) 3,500
¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯
NET INCOME (LOSS) (5,692) (6,045) 353 (14,004) (13,785) (219) 0 –––––– –––––– –––––– ––––––– ––––––– ––––––– –––––––
6
HAMPTON CHASE RECREATION ASSOCIATION 10/07/2020 10:38 AM Page: 2STATEMENT OF INCOME AND OPERATIONS
09/30/2020
c/o CARDINAL MANAGEMENT GROUP CARDINAL MANAGEMENT4330 PRINCE WILLIAM PKWY - 201 4330 Prince William ParkwayWOODBRIDGE VA 22192 Suite 201
Woodbridge VA 22192-5361
ACCT #
ACCOUNT TITLE
-------- ACTUAL
CURRENT BUDGET
-------- VARIANCE
-------- ACTUAL
YR-TO-DATE BUDGET
---------- VARIANCE
ANNUAL BUDGET
OTHER INCOME - SCHEDULE 1
30171 LATE FEES - ACCRUAL 0 67 (67) 1,175 603 572 800 30190 POOL INCOME 0 0 0 3,510 18,000 (14,490) 18,000 30196 POOL PASS INCOME 0 360 (360) 0 1,800 (1,800) 1,800 30220 COMMUNITY ROOM INCOME 0 56 (56) 475 504 (29) 675 30270 INTEREST INCOME 388 292 96 2,893 2,628 265 3,500
¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯388 775 (387) 8,053 23,535 (15,482) 24,775
–––––– –––––– –––––– ––––––– ––––––– ––––––– –––––––
7
HAMPTON CHASE RECREATION ASSOCIATION 10/07/2020 10:38 AM Page: 3STATEMENT OF INCOME AND OPERATIONS
09/30/2020
c/o CARDINAL MANAGEMENT GROUP CARDINAL MANAGEMENT4330 PRINCE WILLIAM PKWY - 201 4330 Prince William ParkwayWOODBRIDGE VA 22192 Suite 201
Woodbridge VA 22192-5361
ACCT #
ACCOUNT TITLE
-------- ACTUAL
CURRENT BUDGET
-------- VARIANCE
-------- ACTUAL
YR-TO-DATE BUDGET
---------- VARIANCE
ANNUAL BUDGET
ADMINISTRATIVE EXPENSES - SCHEDULE 2
50400 BAD DEBTS EXPENSE 0 21 21 0 189 189 250 51000 TELEPHONE & RELATED 130 60 (70) 625 540 (85) 715 51020 POSTAGE 12 142 130 325 1,278 953 1,700 51030 OFFICE EXPENSE 2,112 333 (1,779) 1,280 2,997 1,717 4,000 51047 BONUSES 0 0 0 0 950 950 950 51090 LEGAL FEES 2,151 208 (1,943) 8,912 1,872 (7,040) 2,500 51092 LEGAL FEE REIMBURSEMENT (258) (42) 216 (2,608) (378) 2,230 (500)51110 AUDITING, TAXES & ACCOUNTING 0 0 0 3,150 3,200 50 3,200 51120 MANAGEMENT FEE CONTRACT 2,497 2,524 27 22,475 22,716 241 30,289 51125 MANAGEMENT REIMBURSEMENTS (1,206) 458 1,664 2,557 4,122 1,565 5,500 51274 SWIM TEAMS 0 400 400 0 2,000 2,000 2,500
¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ TOTAL ADMINISTRATIVE EXPENSES 5,438 4,104 (1,334) 36,716 39,486 2,770 51,104
–––––– –––––– –––––– ––––––– ––––––– ––––––– –––––––
8
HAMPTON CHASE RECREATION ASSOCIATION 10/07/2020 10:38 AM Page: 4STATEMENT OF INCOME AND OPERATIONS
09/30/2020
c/o CARDINAL MANAGEMENT GROUP CARDINAL MANAGEMENT4330 PRINCE WILLIAM PKWY - 201 4330 Prince William ParkwayWOODBRIDGE VA 22192 Suite 201
Woodbridge VA 22192-5361
ACCT #
ACCOUNT TITLE
-------- ACTUAL
CURRENT BUDGET
-------- VARIANCE
-------- ACTUAL
YR-TO-DATE BUDGET
---------- VARIANCE
ANNUAL BUDGET
MAINTENANCE EXPENSES - SCHEDULE 3
61050 CLEANING CONTRACT 268 404 136 6,679 3,636 (3,043) 4,846 61075 ELECTRICAL REPAIRS 0 83 83 119 747 628 1,000 61140 POOL SUPPLIES 60 600 540 3,008 5,000 1,992 5,000 61145 POOL REPAIR & MAINTENANCE CONTRACT 0 415 415 610 2,500 1,890 2,500 61146 POOL WATER & SEWER 2,999 0 (2,999) 2,838 4,266 1,428 6,000 61150 POOL CONTRACT 6,200 10,735 4,535 57,140 64,400 7,260 64,400 61152 POOL TELEPHONE 29 25 (4) 258 225 (33) 300 61180 GROUNDS CONTRACT 722 722 0 6,498 6,498 0 8,664 61200 PROPERTY REPAIRS 884 358 (526) 6,231 3,222 (3,009) 4,300 61220 SECURITY CONTRACT 109 109 1 1,085 981 (104) 1,302 61250 TRASH REMOVAL CONTRACT 50 135 85 587 1,215 629 1,625 61581 SNOW REMOVAL CONTRACT 0 0 0 0 2,800 2,800 3,500
¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ TOTAL MAINTENANCE EXPENSES 11,320 13,586 2,266 85,052 95,490 10,438 103,437
–––––– –––––– –––––– ––––––– ––––––– ––––––– –––––––
9
HAMPTON CHASE RECREATION ASSOCIATION 10/07/2020 10:38 AM Page: 5STATEMENT OF INCOME AND OPERATIONS
09/30/2020
c/o CARDINAL MANAGEMENT GROUP CARDINAL MANAGEMENT4330 PRINCE WILLIAM PKWY - 201 4330 Prince William ParkwayWOODBRIDGE VA 22192 Suite 201
Woodbridge VA 22192-5361
ACCT #
ACCOUNT TITLE
-------- ACTUAL
CURRENT BUDGET
-------- VARIANCE
-------- ACTUAL
YR-TO-DATE BUDGET
---------- VARIANCE
ANNUAL BUDGET
UTILITIES AND OTHER - SCHEDULE 4
71030 ELECTRICITY 989 583 (406) 4,650 5,247 597 7,000 71036 CABLE CONTRACT 113 96 (17) 1,011 864 (147) 1,150 71050 INSURANCE COVERAGE 799 850 51 7,348 7,643 295 10,193 71140 INCOME TAXES 0 0 0 800 800 0 1,300 79500 OPERATING RESERVE 0 284 284 288 1,937 1,649 2,791
¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯ TOTAL UTILITIES AND OTHER 1,901 1,813 (88) 14,097 16,491 2,394 22,434
–––––– –––––– –––––– ––––––– ––––––– ––––––– –––––––
10
HAMPTON CHASE RECREATION ASSOCIATION 10/07/2020 10:40 AM Page: 1BALANCE SHEET w/ACCT #'S
09/30/2020
c/o CARDINAL MANAGEMENT GROUP CARDINAL MANAGEMENT4330 PRINCE WILLIAM PKWY - 201 4330 Prince William ParkwayWOODBRIDGE VA 22192 Suite 201
Woodbridge VA 22192-5361
ASSETS:
10015 CHECKING - MUTUAL OF OMAHA 72,273 10133 MORGAN STANLEY 256,596
¯ ¯ ¯ ¯ ¯ ¯ ¯
TOTAL CASH & INVESTMENTS -SCHEDULE 5 328,869
OTHER ASSETS:
10160 ASSESSMENTS RECEIVABLE 1,258 10165 ALLOW DOUBT ACCTS (675)10172 INTEREST RECEIVABLE 1,272 10180 DEPOSITS 5,867 10190 TAXES RECEIVABLE (139)10240 PREPAID INSURANCE 6,617
¯ ¯ ¯ ¯ ¯ ¯ ¯
OTHER ASSETS 14,199
¯ ¯ ¯ ¯ ¯ ¯ ¯ TOTAL ASSETS 343,068
–––––––
LIABILITIES:
20120 PREPAID ASSESSMENTS 6,789 20160 ACCRUED EXPENSES 11,169 20165 DEFERRED ASSESSMENTS 57,476 20197 RESALE DOC FEES PAYABLE (2,971)
¯ ¯ ¯ ¯ ¯ ¯ ¯
TOTAL LIABILITIES 72,463
EQUITY:
REPLACEMENT RESERVES - SCHEDULE 6 250,712 20410 MEMBERS EQUITY 33,896
YEAR TO DATE EARNINGS (14,004)¯ ¯ ¯ ¯ ¯ ¯ ¯
TOTAL EQUITY 270,605
¯ ¯ ¯ ¯ ¯ ¯ ¯
TOTAL LIABILITIES AND EQUITY 343,068
–––––––
11
TYPE OF ORIGINAL MATURITY ANNUAL
FINANCIAL INSTITUTION INVESTMENT TERM DATE RATE AMOUNT
10015 MUTUAL OF OMAHA (OPERATING) CASH N/A N/A N/A 72,273
72,273
10133 MORGAN STANLEY (Rsrvs) MMA N/A N/A 0.01% 61,596
10133 MS - GOLDMAN SACHS (Reserves) CD 60 MONTHS 09/16/20 2.25% 25,000
10133 MS - CONGRESS BK (Reserves) CD 6 MONTHS 10/16/20 1.00% 90,000
10133 MS - WELLS FARGO (Reserves) CD 60 MONTHS 09/28/21 1.70% 60,000
10133 MS - DISCOVER (Reserves) CD 60 MONTHS 02/01/22 2.25% 20,000
256,596
TOTAL CASH & RESERVES 328,869
TOTAL RESERVES
HAMPTON CHASE RECREATION ASSOCIATION
SCHEDULE 5
CASH & INVESTMENTS
SEPTEMBER 30, 2020
TOTAL OPERATING
12
HAMPTON CHASE RECREATION ASSOCIATION
SCHEDULE 6
REPLACEMENT RESERVES
USES TO DATE NET BALANCE
CURRENT TOTAL
25500 REPLACEMENT RESERVES 6,192 256,611 12,133 244,478
25600 OPERATING RESERVES 3,341 3,341
25850 UNALLOCATED INT RESERVE 388 2,893 2,893
6,580 262,845 12,133 250,712
250,712
RESERVE FUNDING
GL # Reserve Item Description Month-to-Date Year-to-Date
10133 Reserve Cash * Cash Transfer From Operating 49,533
25500 Reserve Equity Accrual Journal Entries 6,192 55,728
Variance (6,192) (6,195)
RESERVE EXPENDITURES & OPERATING REIMBURSEMENTS
Month to Year to
GL # Reserve account Description Date Date
24500 Replace RSRV Equity Uses (Expenditures) Reserve invoices paid from Operating 12,133
10133 MORGAN STANLEY (Cash) Cash Transfers to Operating (Reimburse) 12,133
Variance - -
SEPTEMBER 30, 2020
CONTRIBUTIONS
TOTAL REPLACEMENT RESERVES
13
LANCASTER LANDSCAPES, INC. PROPOSAL NO.
5019-B Backlick Rd., Annanadale, VA 22003 30733
Phone: 703-846-0944 Fax: 703-846-0952
September 22, 2020
CUSTOMER
Adrea Marshall
Hampton Chase Recreation Association
Dear Adrea,
Thank you for giving Lancaster Landscapes an opportunity to bid on your current job at Hampton Chase Recreation
Association. Lancaster Landscapes, Inc. offers to perform the following services:
LANDSCAPE ENHANCEMENTS FRONT OF CLUB HOUSE RIGHT SIDE: - RELOCATE GRASSES TO KID'S POOL FENCE. - INSTALL (1) JAPANESE HOLLY 3 GALLON. .......................................................................................... $95.00 - INSTALL (1) JUNIPER 3 GALLON............................................................................................................ $77.00 - BOTH TO MATCH EXISTING PLANT MATERIAL. FRONT OF CLUB HOUSE: - RELOCATE GRASSES TO KID'S POOL FENCE. - REARRANGE EXISTING PLANT MATERIAL AND INSTALL (5) RED BARBERRYS 3 GALLON @ $97/EA. ............................................................................................................................................... $485.00
SIDE OF CLUB HOUSE : - RELOCATE EXISTING GRASSES. - INSTALL (4) OTTO LUYKEN 18-24" @ $125/EA. .................................................................................. $500.00
KID'S POOL ALONG FENCE: - CREATE A PLANTING BED AND INSTALL EXISTING GRASSES TO CREATE A PRIVACY BARRIER. - LABOR FOR ENTIRE PROJECT ......................................................................................................... $2,640.00 - HARDWOOD MULCH ............................................................................................................................. $450.00
TOTAL PROPOSAL PRICE: $ 4,075.00 Payment terms: All payments are due within 30 days of invoice date unless otherwise specified. A 1.5% per month late charge will be applied to payments not made within 30 days of their due date. In the event that this contract is placed
in the hands of an attorney, whether or not suit is instituted, the client agrees to pay all reasonable attorneys fees involved in such collection efforts.
Lancaster Landscapes, Inc. offers a one year warranty on all newly installed plant materials and trees, excluding annuals and sod. The warranty period commences upon date of installation through and until one year from that date.
Warranty is not valid if plants have (1) not been properly maintained (watered) (2) are damaged due to incidents not precipitated by contractor or its forces such as weather conditions, pedestrian traffic, animal damage, etc. (3) if invoice
for services rendered has not been paid in full within the 30 day time allowance. Properties requiring re-installations will be inspected. Plant materials meeting warranty requirements will be listed and replaced, in mass, at the end of the
warranty period, unless agreed to otherwise by contractor and client. This will ensure that all plants requiring replacements are installed under the best possible conditions and in compliance with current industry standards. Subsurface
obstructions are not covered by proposal.
Disclaimer. Trees inherently pose a certain degree of hazard and risk from breakage, failure or other causes and conditions. Recommendations that are made by Lancaster Landscapes are intended to minimize or reduce hazardous
conditions that may be associated with trees. However, there is and there can be no guarantee or certainty that efforts to correct unsafe conditions will prevent breakage or failure of the tree. Our recommendations should reduce the
risk of tree failure but they cannot eliminate such risk, especially in the event of a storm or any act of God. Some hazardous conditions in landscapes are apparent while others require detailed inspection and evaluation. There can be no
guarantee or certainty that all hazardous conditions will be detected.
All material is guaranteed to be as specified. All work is to be completed in a ACCEPTANCE OF PROPOSAL:
workman like manner according to standard practices. Any alteration The above prices, specifications, and conditions are satisfactory and
deviation from above specifications involving extra costs will be executed only hereby accepted. You are authorized to do the work as specified.
upon written orders and will become an extra charge over and above the Payment will be made as outlined above.
estimate. All agreements contingent upon strikes, accidents, or delays beyond
our control. Owner to carry fire, tornado, and other necessary insurance. Our
workers are fully covered by Workers Compensation Insurance. DATE OF ACCEPTANCE
Authorized Signature: CARLOS RIOS
This proposal may be withdrawn by us if not accepted within 30 Days. SIGNATURE
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