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Running Creek HOA Meeting

Running Creek HOA Meeting. August 22, 2005. Agenda. Duties of The Board Duties of The Management Company Year In Review (1 st Half 2005) Running Creek Financials (Through July 2005) Update on Land Deal (Review Tentative Budget) Discuss 2 nd Half 2005 Initiatives

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Running Creek HOA Meeting

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  1. Running Creek HOA Meeting August 22, 2005

  2. Agenda • Duties of The Board • Duties of The Management Company • Year In Review (1st Half 2005) • Running Creek Financials (Through July 2005) • Update on Land Deal (Review Tentative Budget) • Discuss 2nd Half 2005 Initiatives • Open Forum (What’s On Your Mind)

  3. Duties of The Board • An association board of directors is an elected body of volunteers that is charged with managing associations assets and ensuring compliance with covenants. • Board meetings help the association develop a concrete plan to meet community needs. • The Board gets the authority to perform its duties from association documents and state statutes.

  4. Duties of Management Company • Maintenance of Records & Unit Files • Violation Notification • Litigation Management • Homeowner Communications • Financial Management • Collections • Contractor Interface

  5. Year In Review (1st Half 2005) • Established Year Round Landscaping (Front Entrance and All Common Areas) • Developed HOA Web-Site (RunningCreek.com) • Established Beautification Committee • Hired Pool Monitors • Administered Yearly Block Party

  6. Update on Land Deal (Tentative Budget) Funds Received From Sale of Land - $231, 223 Taxes on Amount Received (36%) – $83,240 Balance After Taxes - $147,983 1 Yr. Operating Expenses - $50,000 Improvements to Sub-Division - $40,000 Investments - $57,983 Amount Utilized After Taxes - $147,983

  7. 2nd Half Initiatives • Community Involvement • Renter Restrictions • POA • Welcome Committee • Increase Focus on Basic Homeowner Maintenance • November Elections

  8. What’s On Your Mind??

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