1. Richland Home Owners’ Association, LLC
Annual Member’s Meeting
February 6, 2016
*Please be sure to sign in when you arrive

2. Introductions Governing Board President – Meaghan Barton
Vice President – Scott Gee
Treasurer – Janice Barrilleaux
Secretary: - Robert Broussard
Architectural Board: - Chris Betz, Tommy Unglesby, Hayden Hilling
Volunteer Board:

3. Meeting Format
The board will present updated information for business conducted in 2016 and proposed objectives for the coming year.
The board will ask for objections to proposals. If there are no objections, an unanimous decision will be recorded. Otherwise, the discussion will be tabled and a vote will be held following the presentation.
There will be an opportunity for questions and answers following the presentation.

4. Topics Collections Summary Financial Summary Accomplishments
Maintenance
Proposed 2017 Projects
Dues
Board Nominations
Q&A

5. Collections Summary 2016 Dues received 70 of 70 (100%) Liens recorded
Liens cancelled
Liens still on the books 2

6. Collections Summary 2017 Dues Collections
33 of 70 collected so far – 47%
Outstanding Dues:
Please turn in dues no later than February 15, 2017

7. Financial Summary Current Cash Assets $30,952.32 2016 Income
(excludes 2017 dues already deposited. As of )
2016 Income
$19, Dues Received
$43.22 – Bank Interest
(Also includes liens received)
2016 Expenses
$19,109.18
2016 Net Savings $204.04

8. Accomplishments
Yearly lawn contract expired in March We solicited bids from 3-4 companies and selected Tiger Green.
Pressure washed the Richland entrance (Jan 2017)

9. Maintenance What does the HOA maintain? Frontage Drainage servitudes
Front fence, signage, ditch, etc.
Boulevard
Irrigation
lighting
Cul-de-sac
Drainage servitudes

10. Proposed 2017 Projects 2017 Projects Proposed
Fence in the front of the neighborhood either needs to be replaced, resurfaced or just repaired.

11. Dues Board recommends maintaining dues at $300/yr.
This rate should sustain smaller projects similar to those completed in the past, and allow for enough reserves to cover unforeseen legal expenses, repairs, etc.

12. Dues Notices Restrictions Annual Meeting
Property subject at closing
Available at Clerk of Court
Posted on HOA website
Annual Meeting
Notice posted on Website
1st Statement Mailing in December
2nd Statement Mailing in February
Demand Letter
Lien

13. Dues: Timeline Timeline for Dues (as stated in the By-Laws)
1st Statement Mailed December 15
Payable February 1st
Late after February 15th
2nd Statement mailed in late February with $25 late fee
Collections process begins in March
Demand Letters go out in April
Liens Filed in May

14. Dues: Fees explained Fees Interest Demand letter Liens 10% per annum
$75 Attorney fee, plus postage
May require multiple letters
Liens
$75 – Attorney fee for lien
$65 – Lien recording fee
$65 – Lien cancellation fee
$75 – Attorney fee for lien cancellation
$280 total, plus postage

15. Collections Process 1st Demand sent to Home Owner of record.
Will begin requesting address correction to increase success of future demands.
Historically has a 65-70% success rate.
Prior to filing lien, will perform “mini-abstract” to ensure accurate Home Owner information.
Send 2nd Demand if necessary, otherwise file lien.
Follow up at 5yr mark to renew lien if necessary.

16. Board Nominations Requirements
Must attend monthly board meetings (typically 11 per year). Absence for two or more meetings forfeits board membership.
Must be willing to serve and represent home owners in any public matter or public hearing affecting the subdivision.

17. New Business
Q&A

18. Thanks! Slides available at http://www.richlandsubdivision.org
Information also available at our Facebook page: Richland Homeowners Association
Neighborhood Group