 HOA Annual Meeting 2012 April

 Finances o Current Budget o Current Financial Status  Dead Trees & Pond Fencing  Communication  Landscaping o Bids o Entranceway Beautification o Curbing  By-Law Changes  Other Topics  Questions and Answers

 2012 Budget Go to eetings/ Select VHE_2012_AnnualComplete.ppt to see complete charts with Financial information Several thoughts about how to fund upcoming exciting projects

 2011 Financials Go to eetings/ Select VHE_2012_AnnualComplete.ppt to see complete charts with Financial information

 2012 Financials Go to eetings/ Select VHE_2012_AnnualComplete.ppt to see complete charts with Financial information

 New Budget Item: Replace 5 dead trees per year  Approximate cost per year: $1,000  Board has already spent time in identifying all the dead trees through out the HOA. 5 trees have already been replaced.  Priority for replacement of dead trees o Hi-Vue road takes priority o Inside streets will be next o Dead trees behind houses will be replaced after that o Board may even replace bad looking trees with better ones (especially near the entrance)

 3 different paths  Tough to get to from any paths  Dangerous terrain surrounding pond, including a steep dropoff inland as well

 Township Letter states Fence not required  Fencing the pond is a complex project  Discussed our options with Attorney  Recommendation – Signs

 Website:  Yahoo group:  Encourage residents to Join the group  Seasonal Newsletter

 Previous proposals and expenditure o Entranceway Beautification Project o Moyer Buffer More than half dead trees Board has assigned lowest priority for replacement of those dead trees Dead trees did not carry sufficient warranty  Look into other Landscapers based on community request

 HOA Board came up with a check list of Items  Invited many Landscapers for the bids  Walked them around the community  Stayed with them for hours while they measured so as to ensure that they don’t take anything from backyards  Called their references  Visited the sites they maintain

 Narrowed to 5 Landscapers o 1 Landscaper out of that backed out stating we are not fair to outside vendors  3 Bids came in less than Turning Leaf  Discussed options with Turning Leaf o Cancel current contract o Negotiate a new price  Turning Leaf has serious concerns about the ability of these vendors to maintain our neighborhood well at these prices  Unable to get out of the 3 year contract

 Unable to realize savings from landscaping maintenance for beautification  Scaled down the entranceway beautification project o Clean up existing signs o Power wash and paint o Big impact with less cost: Change some plant, trees and shrubs o Curbs

 Working with Township for past 8 months  Limited Curbs at both entranceways – Township Approved permits  Curbs through out the community – One step closer o Waiting on Solicitor’s letter  Several options available. Can be done over several years. o Entranceways o Corners of Hi-Vue o Corners of all the streets in the community o Main streets starting from Hi-Vue

Curbs at Entranceways

 Proposed Changes Any new business deal that is greater than $3000 and is not in the budget will need 67% approval and an open and fair bidding process. Board must not disclose the bidder names or bids to anyone until deal is finalized. All deals must contain a cancelation/out clause. Any new business deal that is greater than $5000 and is with a Valley High Estates homeowner needs 67% approval. This includes items that are in the budget. Changes of 10% or more to any budget item that is greater than $3000 must be communicated to the residents Any changes to Board members must be communicated to the residents

 Proposed Changes – Contd.. The Board must get 67% approval before charging any special assessment The Board must provide at least a 2 week input period from the community before making any changes to the Declaration, By-laws, and Rules and Regulations. The approval process shall be that the Board allows 30 days for the community to vote. Once 67% approval or 34% disapproval has been reached, the decision is made. If neither approval or disapproval has been reached after 30 days, the Board makes the decision.

 HOA has limited amount of money. Currently spending almost as much as we take in  Future HOA Dues: o Current fiscal path requires increase in HOA dues or use of money from savings  Financing for new projects: o Could use some from savings o Could charge a special assessment o Wait until we can reduce our Landscaping costs

 By-Law Changes  Scaled down Entranceway Beautification  Entranceway Curbs  Limited Neighborhood Curbs  Pond signs PS: We are operating on a very limited budget

 Snow Removal  Cul-De-Sac Parking  Community Day

 Questions