1.  Current Board Members  President – Cheryl Phillabaum  Vice President – Lauren Kaeppner  Treasurer – Jamie Banks  Secretary – Victoria Wall  Trustee – Elaine Su 2015 Annual Meeting

2.  2104 Annual budget results  2015 Budget  Loan Balance Treasury Update (Jamie)

3. 2014 Actual 2014 Budget Over/Under Ending Operating Cash Balance from Prior Year: 42,410.14 Income: Dues Deposits ($400/lot) 229,574.96 228,400.00 1,174.96 Bad Debt Expense (5,000.00) 5,000.00 Violation/Other Income 225.00 - Interest Income 272.99 140.00 132.99 Total Income From Dues: 230,072.95 223,540.00 6,532.95 Expenses: Accounting/Tax Return 400.00 - Community Activities/Megaphone 357.85 400.00 (42.15) Computer 363.45 - Insurance 4,885.00 4,600.00 285.00 Landscaping Contract 67,947.24 69,171.00 (1,223.76) Irrigation Repair 2,285.70 - Legal 4,512.35 3,500.00 1,012.35 Mailings/Newsletter/Postage/Checks 3,514.73 4,000.00 (485.27) Annual Meeting Facility Rental/Police 90.00 200.00 (110.00) Professional Organization 23.00 150.00 (127.00) Post Office Box 263.50 260.00 3.50 Management 5,200.00 5,300.00 (100.00) Pond Maintenance 5,600.60 6,400.00 (799.40) Pond Winterization 1,357.88 1,500.00 (142.12) Property Tax 4,140.52 4,000.00 140.52 Utilities 16,800.46 18,000.00 (1,199.54) Improvements 24,293.96 29,403.24 (5,109.28) Mowing - - - Christmas lights 2,463.13 - Repair fountain 4,874.96 1,000.00 3,874.96 Annual fountain maintenance 1,442.41 1,400.00 42.41 West Chester Village - pool 11,800.00 - Pool Income (11,800.00) - Capital Reserve Study - 3,200.00 (3,200.00) Loan Interest Payments 48,000.00 - Loan Principal Only Payments 21,000.00 20,000.00 1,000.00 Total Expenses: 219,816.74 220,884.24 (1,067.50) Total Income after Expenses: 10,256.21 2,655.76 7,600.45 2014 Budget Results $1,067.50 Under budget $21,000 Extra Paid toward outstanding loan balance

4. 2015 Actual 2015 Budget Over/Under Ending Operating Cash Balance from Prior Year: 42,666.35 Income: Dues Deposits ($400/lot) 226,380.57 228,400.00 (2,019.43) Bad Debt Expense (5,000.00) 5,000.00 Violation/Other Income - - Interest Income 114.58 200.00 (85.42) Total Income From Dues: 226,495.15 223,600.00 2,895.15 Expenses: Accounting/Tax Return 400.00 - Community Activities 123.99 400.00 (276.01) Computer 175.00 (175.00) Insurance 2,574.00 5,020.00 (2,446.00) Landscaping Contract 28,311.35 69,350.36 (41,039.01) Legal 610.45 3,500.00 (2,889.55) Mailings/Newsletter/Postage/Checks 981.97 2,000.00 (1,018.03) Annual Meeting Facility Rental/Police 200.00 (200.00) Post Office Box 260.00 (260.00) Management 2,000.00 4,800.00 (2,800.00) Pond Maintenance 2,396.25 8,165.00 (5,768.75) Fountain Winterization 1,118.25 2,197.40 (1,079.15) Property Tax 2,072.42 4,200.00 (2,127.58) Utilities 5,954.71 18,000.00 (12,045.29) Improvements 8,555.00 28,000.00 (19,445.00) Christmas lights 2,400.00 (2,400.00) Repair fountain 2,000.00 (2,000.00) Annual fountain maintenance 445.08 (445.08) West Chester Village - pool pmt 8,550.00 - West Chester Village - Pool Income (8,550.00) - Loan Interest Payments 20,000.00 48,000.00 (28,000.00) Loan Principal Only Payments 23,000.00 20,000.00 3,000.00 Total Expenses: 98,098.39 219,512.84 (121,414.45) Total Income after Expenses: 128,396.76 4,087.16 124,309.60 2015 Budget To Date Currently on track Less than 1% of current year dues outstanding $10,800 uncollected dues in total ($3,200 from one household)

5. Loan Balance Villages of Providence Loan Beginning Balance of Loan: $367,768.15 2013 Principal Only Payment (43,000.00) 2014 Principal Only Payment (21,000.00) 2015 Principal Only Payment (23,000.00) Monthly Loan Principal Payments (65,752.43) Ending Balance of Loan as of 4/30/15: $215,015.72 Paid off since inception42%

6. Beginning Balance of Loan: $ 367,768.15 2013 Principal Only Payment (43,000.00) 2014 Principal Only Payment (21,000.00) 2015 Principal Only Payment (23,000.00) Monthly Loan Principal Payments (65,752.43) Ending Balance of Loan as of 4/30/15: $ 215,015.72 Paid off since inception42% Payments up to the Interest rate reset date 2016 Principal Only Payment (21,000.00) 2017 Principal Only Payment (21,000.00) Monthly at January's principal amount (75,400.00) (117,400.00) 97,615.72 Interest Doesn't Change at Reset Remainder 2017 monthly principal amount (26,100.00) 2018 Principal Only Payment (21,000.00) 2018 Monthly Principal amount (34,800.00) 2019 Principal Only Payment (21,000.00) 2019 Monthly Principal amount (6,771.09) Loan Paid off in early 2019 (12,055.37) Loan Payoff Schedule Scheduled to be paid off 1 st quarter of 2019 Current Interest 5% Interest May Reset March 23 2017 if Current Treasury Yield is over 2% (Interest adjustment = 3% + Current 5 Year treasury yield or 5% whichever is greater) Chart at right assumes no change in interest rate. Actual Loan Maturity March 23 rd 2022

7.  Bridge along path was repaired  Seeding around the pond Bar Harbor pond was done fall 2014  Seeding around the rest of the ponds will be completed this year  Updated Website(check for events, HOA docs, blog posts, ARC forms)  Signs around the ponds were replaced Improvements to VOP

8.  Fountains(out of warranty, and they are starting to have major repairs)  Pricing Replacements vs Repairing Current  Repair the path where we have damage  Assessing damage and collecting information to assemble bidding packet  Cut back the brush along path  Accepting Bids Future Needs

9. Green Space  Corner of Tylersville & Smith Rd  Approx. 5.5 Acres  Goal: Mitigate ongoing maintenance cost  Contacted OSU Master Gardeners, Butler Co. Parks, and Ohio Div. of Wildlife  Recommendation:  Collaborate with Butler Co. Trustees  Contact local Boy Scouts  Research Grants  Notify West Chester Village  Estimate Costs, if any  Present to Neighborhood for Next Steps 5.5 acres

10.  ARC committee needs volunteers email if you are interested VillagesOfProvidence@gmail.comVillagesOfProvidence@gmail.com  Social Chair Heather Somori needs volunteers to help with events. Email if you are interested in helping VillagesOfProvidence@gmail.com VillagesOfProvidence@gmail.com  Small Business Event July 18 or 25, need volunteers to help organize July event Call for Volunteers

11.  Cheryl Phillabaum  Elaine Su  Neil Arsenault Candidates for the Board

12.  Outgoing Secretary  Author of Newsletter  Advocate for Cost Savings  Ladies of Providence Club Leader Thank You Victoria