Hunters Green Annual Meeting - December 1, 2015 8:00pm - Hunters Woods Rec Center Rooms 1-2-3 (Doors open at 7:30pm)

posted Nov 22, 2015, 1:34 PM by HGCA Secretary

Meeting Agenda, Board Member Candidate Information, Proposed 2016 Budget

December 1, 2015 8:00pm - Hunters Woods Rec Center Rooms 1-2-3 (Doors open at 7:30pm)


To be eligible to vote in the Annual Election, you must be a Resident Member in good standing (i.e. all dues are current).  If you have any concerns about your voting eligibility, please contact the Board as soon as possible at board@huntersgreen.org to resolve any issues prior to the Annual Meeting. 


The Annual Meeting Newsletter has been distributed earlier today, which includes the candidate statements, proposed 2016 budget and information about road widening and playground proposals.  For an online copy, please check the !Latest Documents section of the Resource Center or click here

We have also posted the unapproved November Board of Directors meeting minutes and moved the draft meeting minutes from the 2014 Annual Meeting to the !Latest Documents folder of the Resource Center, which will be approved at the 2015 Annual Meeting. 


2015 Annual Meeting Agenda


1. Call to Order and Review of Agenda
2. Reading and Approval of Minutes of 2014 Annual Meeting
3. President’s Report
4. Treasurer’s Report and Review of Proposed 2016 Budget
5. Vote on 2016 Budget
6. Vote on Road Widening Proposal
7. Vote on Playground
8. Election of Board Members
9. Member Comment Period
10. Executive Session
11. Adjournment

Summary of This Newsletter

So you might be wondering why you newsletter is so thick this year.  Well, the community has two major projects up for community vote and the Board wants to ensure you have as much information as possible when you cast your vote.   Here’s a quick summary of what’s going on and what’s in this packet.


Board Positions

We have 3 vacancies on the Board this year.  We will elect three new members to the Hunters Green Cluster Association Board of Directors.  The terms currently held by Yanni Chryssomitis and John Lankau are up for election, and President Jeff Byrd announced that he will be stepping down and his seat will be filled during this annual meeting as well.  Two of the vacancies are for 3-year terms, and one of the vacancies is for a 2-year term.  Each household will be able to vote for three candidates.  The two candidates with the most votes will receive the three year terms.  The candidate with the third most votes will receive the two-year term.


Annual Operating Budget

The proposed standard operating budget for 2016 is included for your review.  This is for the normal, expenses in the community like trash disposal, landscaping, snow removal, legal, accounting, insurance, etc.  The proposed operating budget for 2016 includes a dues increase of just over 8% from $370 to $400 per quarter.  For historical context, the Cluster has been able to keep dues consistent since 2013.  However, with ever increasing costs to maintain our 45 year old neighborhood plus the critical need to fund our capital reserve properly, it is the recommendation of our Treasurer that the Cluster align our dues properly to build upon the financial stability of the Cluster. 


Capital Reserve Projections

Included in this packet is a projection of our capital reserves.  It is important to note that the projections for year end of 2016 show there to be a slight negative balance.  This is the case for two reasons: 1) An omission in the 2013 projection removed the capital disbursement for sidewalks, curbs and gutters due for the same year, but never allocated it to a future year.  The second contributing factor is that the low interest environment in which we find ourselves simply do not allow for 2% returns in a risk-free environment.  It should be noted that a negative capital reserve projection is not the same as a negative balance on a bank account.  As you will see from the cash flow models which have been created to support community decisions on road widening and the playground, you will see that we have plenty of cash to operate.  Once we know the actual disbursements for the asphalt work, we will be able to resolve this matter.  As noted above, we are calling the membership to vote on two items - replacing the old playground on Indian Ridge Road and also road widening as a means to achieve more parking within our cluster.  The former is greatly underfunded as can be seen in our capital reserve study and the latter is not funded at all.  The budgeting and cash flow models created to support these community decisions lean conservatively - that is, costs are exaggerated and our assumptions on negotiating to the financial advantage of the community are mitigated.  Of course, you are welcome to contact the Board to answer questions that you have. 


Asphalt Repaving

2016 is the year scheduled for us to have our roads repaved.  This was planned for several years and is already fully funded in our Capital Reserves.  However, this also gives the community an opportunity for widening the roads and allowing for some additional parking. 


Road Widening Proposal

You may have noticed the pink taped off areas on Indian Ridge Road and Hunters Green Court the past month or so.  These are the areas that are proposed for street widening to allow the community to provide room for 6 parallel parking spaces on Indian Ridge Road and 5 on Hunters Green Court.  The Board has been advised by the vendors that widening the road in conjunction with repaving is the best way to ensure the life of the road.  This will be voted by the community at the Annual Meeting.  There is a full section detailing this proposal and a Q&A as well. 


Playground Project

The 2015 Playground Committee has selected a playground design to replace the current playground on the big hill coming up Indian Ridge Road.  Unfortunately, due to safety concerns the current playground will need to be removed in 2016 no matter the outcome of this vote.  This new playground project will be voted on by the community at the Annual Meeting.   There is a full section detailing the proposal including graphics and background information from the Playground Committee. 


Putting It All Together

The Road Widening is currently not funded at all and the Playground Project is very much underfunded.  Both initiatives will require a special assessment to fund them if the Community votes to approve one or both of these projects.  The Board anticipates that the asphalt repaving project could very well come in under the amounts budgeted in our capital reserve study and the excess funds can be put towards whichever projects were approved by the community (if any) and lower the overall special assessments required.  For more information, please see the Cash Flow Analysis attachment. 


If you have questions about any of the information contained in this Newsletter, please send them to board@huntersgreen.org.    Thanks, and we’ll see you at the Annual Meeting!


HGCA Board
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