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Franklin Trace HOA Meeting
June 5th, 2012
FTHOA Board of Directors
Carlton BaleRebecca Coats Barry Griffin Sharon Neal
Ryan Roberson Terri Roberson
www.franklintrace.com
FTHOA Management
Kirkpatrick Management Companywww.ekirkpatrick.com
General ManagerJoseph Winship
(317) 558-5347
Association Property Manager Kevin Patterson
(317) 558-5341
FY2012 Successes• Addressed issues with
homeowner complaints concerning the quality of work of landscape contractors
• Fixed Southport road drain pipe issue– Expected “for good”!
• Replaced broken and stolen signs• Significant progress on unified
covenant’s• Formalized architectural
approval process• Negotiated mailbox purchase
deal
• Reviewed quality of service expectations with contractors
• Board action on pond fountains– General homeowner
responsibility and the responsibility of homeowners living on the ponds
• Fixed issue with common area irrigation and water meter expense
• Addressing expected cost increases in several areas
Mail BoxesEstes Designswww.estesdesigns.com(317) 899-2203470 S. Mitthoeffer RoadIndianapolis, IN 46229
Mailbox Solutionswww.mailboxsolutions.com(317) 460-101010999 Rutgers Lane Fishers, IN 46038
Otto’s Streetscape Solutionswww.ostreetscape.com(317) 886-44002449 E. Main Street, Greenwood, IN 46143
FY2012 Homeowner Issues
• Quality of contractor/landscaping performance
• Homeowners adhering to covenants• Security• Maintenance of common areas
– Including trees, lighting, pond water, etc.
2013 Franklin Trace Objectives• Continue improvement in overall maintenance and appearance of the community
– Common areas and Southport entrance• Finalize covenant unification with minimal spending
– Potential for one final mailing• Address Aristocrat pear tree pruning
– Potential for horrible results if homeowners take it upon themselves• Cover increases in irrigation expense and increase in electricity expense
– Electricity cost up 14.5% over the next two years (announced April 2012)– Water up 26% 2010 through 2013 (approved in February 2011)
• Ensure homeowners are protected from expected upcoming maintenance costs and unplanned/unbudgeted expense (increase reserve fund to match community needs/expectations)
– Two of three pond pumps are more than eight years old• More than $5,000 to replace not including installation
– Pond contamination issues if city is required to address– Recover HOA dues in a timely period– Address drainage issues when/if they arise– Address security issues when/if they arise
HOA Fee Trend
•3.2% annual increase over three years•3.2% annual increase over the last eight years
Franklin Trace Fiscal Year 2012/2013 Proposed Budget July 2012 - June 2013
Based on 94 Lot Owners
Semi Annual Fees $300 $280 $245 $330
Ending June 30 2010 2011 2012 2013EXPENSES Actual Actual Forecasted BudgetManagement Fees 3,470$ 4,800$ 4,944$ 5,100$ Professional Fees 1,429$ 1,783$ 1,060$ 1,500$ Administrative 959$ 253$ 300$ 300$ Postage 315$ 212$ 300$ 300$ Web-Site -$ 463$ 179$ 200$ Electricity 10,687$ 12,756$ 13,950$ 15,500$ Water Expense 972$ 608$ 145$ 1,200$ Snow Removal 3,446$ 2,644$ 2,400$ 2,800$ Sprinkler Maint 936$ 413$ 500$ 800$ Irrigation Repair 200$ -$ -$ Mowing & Edging 7,810$ 5,125$ 4,200$ 5,800$ Mulch 2,484$ 7,586$ 5,183$ 3,300$ Bed Maintenance -$ 1,785$ 942$ 900$ Landscape Improvements 1,500$ Fert./Grub/Weed/Aerate/Turf -$ -$ -$ 1,625$ Tree Care/Removal/Replace -$ 1,415$ -$ 2,000$ Pruning -$ 630$ 720$ 1,000$ Native Tree Pruning 5,500$ Edging -$ -$ 40$ Pond/Fountain Maint 8,869$ 4,690$ 3,683$ 4,000$ Pest Control -$ 650$ -$ 800$ Common Area Maint 176$ 1,114$ 1,000$ 1,000$ Street Signs 185$ 328$ 618$ 600$ Insurance 1,999$ 69$ 644$ 700$ Contingency -$ -$ -$ 5,643$ Total Expense 43,937$ 47,324$ 40,808$ 62,068$
Franklin Trace- Spring Bloom
Poorly Pruned Pear Trees- What We Want to Avoid
Franklin Trace- Front Entrance
HOA Board Members
• 2013 BOD (agreed to remain)– Barry Griffin- President– Ryan Roberson- Vice President– Terri Roberson- Treasurer– Rebecca Coats- Secretary– Carlton Bale- Member– Sharon Neal- Alternate
• 2013 Nominee– Jason Bell
Back Ups
Franklin Trace Fiscal Year 2012/2013 Proposed Budget July 2012 - June 2013 (without native tree pruning)
Based on 94 Lot Owners
Semi Annual Fees $300 $280 $245 $298
Ending June 30 2010 2011 2012 2013EXPENSES Actual Actual Forecasted BudgetManagement Fees 3,470$ 4,800$ 4,944$ 5,100$ Professional Fees 1,429$ 1,783$ 1,060$ 1,500$ Administrative 959$ 253$ 300$ 300$ Postage 315$ 212$ 300$ 300$ Web-Site -$ 463$ 179$ 200$ Electricity 10,687$ 12,756$ 13,950$ 15,500$ Water Expense 972$ 608$ 145$ 1,200$ Snow Removal 3,446$ 2,644$ 2,400$ 2,800$ Sprinkler Maint 936$ 413$ 500$ 800$ Irrigation Repair 200$ -$ -$ Mowing & Edging 7,810$ 5,125$ 4,200$ 5,800$ Mulch 2,484$ 7,586$ 5,183$ 3,300$ Bed Maintenance -$ 1,785$ 942$ 900$ Landscape Improvements 1,500$ Fert./Grub/Weed/Aerate/Turf -$ -$ -$ 1,625$ Tree Care/Removal/Replace -$ 1,415$ -$ 2,000$ Pruning -$ 630$ 720$ 1,000$ Native Tree PruningEdging -$ -$ 40$ Pond/Fountain Maint 8,869$ 4,690$ 3,683$ 4,000$ Pest Control -$ 650$ -$ 800$ Common Area Maint 176$ 1,114$ 1,000$ 1,000$ Street Signs 185$ 328$ 618$ 600$ Insurance 1,999$ 69$ 644$ 700$ Contingency -$ -$ -$ 5,093$ Total Expense 43,937$ 47,324$ 40,808$ 56,018$