1. Cragmont Estates Homeowners Association 2007 Annual Meeting
January 10, 2007
7:00 PM

2. Agenda Roll Call Proof of Notice of the Meeting
Minutes of Previous Meeting
Reports:
Finance Report
Easement Report
Establishment of Number of Terms of Directors

3. Agenda Election of Inspectors of Election Election of New Directors
Ratification of 2007 Budget
Unfinished Business
New Business
Adjournment

4. Community 2006 Accomplishments
Won easement lawsuit
CMP mailboxes removed
Professional snow removal service
17 trucks
Major sanding equipment
Paving project underway

5. Roll Call Proof of Notice of the Meeting Minutes of Previous Meeting
CEHOA Annual Meeting 2007
Roll Call
Proof of Notice of the Meeting
Minutes of Previous Meeting

6. REPORTS
Finance Report
Jeff Anderson

7. Account Structures
Over past 5 years we have grown from one fund to having multiple funds
General Fund
Road Maintenance Fund
Contingency Fund
Road Easement Fund
Road Paving Fund

8. Account Balance

9. Account Receivables

10. 2006 Budget vs Actual
Includes estimated $9,500 for December snowplowing

11. REPORTS
Easement Report
Eric Protzman

12. Easement Update Traffic Monitoring Purposes:
Gauge the level of traffic on Berry Bush road at the lower cattle guard at various times
Inform drivers of the judgment involved with the easement and the recently limited rights to travel on Berry Bush
Develop information on those who are using Berry Bush that should not be using it
Provide objective information to CEHOA about the use of Berry Bush to inform and guide future actions

13. Easement Update Traffic Monitoring Process:
30 day period, 14 days monitoring
Verification from homeowner list
Visitor and service provider verification via homeowner
Package delivery trucks waived through
Unauthorized drivers will be asked to turn around
Traffic data will be logged by security
Cost: ~ $500

14. CEHOA Annual Meeting 2007
Establishment of Number of Terms of Directors
Election of Inspectors of Election
Election of New Directors

15. Budget
Budget Background
Jeff Anderson

16. 2007 Budget Guidelines Bylaws Govern the Boards Actions
Section 2.2 Powers and Duties.
Regulate the use, maintenance, repair, replacement and modification of the Common Area;
Our past has been concerned with maintenance and repair of our asset
The win of the road easement lawsuit adds “regulate use” of the Earley easement to our charter

17. 2007 Budget Objectives Reduce number of accounts
General Fund
Contingency Fund
Road Paving Fund
Sweep cash into money market account
Make Road Maintenance a line item in budget
Make legal a line item in the budget
Re-evaluate snowplowing costs based on improved service and fully paved subdivision
Sweep annual excess funds from general fund to contingency fund

18. Proposed Budget

19. Snowplowing Estimate

20. Snowplowing Estimate (update 1/10/2007)
Using actual invoices for Nov & Dec
$7,114 for 22 passes

21. Legal Line Item Ron Lewis has filed an appeal
Estimate $16,000 to defend appeal
May take 18 – 24 months before it comes to trial
$16,000 / 18 months = $889/mo ($2,667 per Quarter )
We have filed to recover legal fees ~$32, (hearing scheduled for March 26th)
We have been awarded $742 so far
Excess funds from defense of road easement will be returned to owners of record upon completion of appeal

22. Road Maintenance Line Item
Some work needed outside of paving project
Allocated $5,000 maintenance in Summer 2007
Ditches need cleaning, hay bales, etc

23. Contingency Fund
Objective: Build a buffer for unseen expenses or “storm of the century”
End of year cash swept into fund ~ $27,903
Less Dec snowplowing (est $9,500) ~ $18,403
Add $1,500 per quarter ~ $24,403 at year end

24. Increases itemized

25. Ratification of 2007 Budget

26. Unfinished Business

27. New Business

28. Adjournment