1. Annual Meeting
Tuesday, October 16, 2018

2. Agenda Call to order Quorum/Proof of Notice Introductions
Approval of 2017 Meeting Minutes
Community/Financial Review
Q&A on HOA Issues
Board of Directors Meeting
Approval of 2019 Budget
Adjournment

3. Questions
At this stage we would normally take Q&A on agenda items and the financials. In order to address most of these concerns we will review Financials first. The Q&A responses submitted ahead of this meeting are in your packages. If there are any new questions we will open it up to the floor.

4. Financial Review Income 2018 Budget 2019 Proposed $3,057,325
Assessments
$3,057,325
$2,911,870
Revenue is calculated on 1800 closed homes at Dec 31st homes projected for $128 per month per home.
Lease Fee Income
$25,000
$24,000
Lease fee income. Background checks for lease Varies from $25 - $95
Subsidy
$500,856.60
$520,834.33
Projected shortfall from Revenue vs. expenses paid by developer. Amount may be higher or lower.
Capital Contributions- Reserves
$59,000
$62,500
Income from new build sales paid at closing to fund the Reserve Account. (Not charged on Resale's) $500 based on 125 Projected closings for 2019
Misc Sales to Residents
$2,400
Misc. income from sales of additional transponders for Gate access.
Transfers to Reserve Fund -$
-$138,956
Based on Reserve Study by McKenzie Engineering - $9.04 per door per month.
Transfer of Capital
Contribution-Reserves
-$59,000
-$62,500
Transfer Cap Cont. to Reserve funds
Total Income
$3,453,973.60
$3,320,148.33

5. Financial Review Expenses Administrative 2018 Budget 2019 Proposed
Hurricane Irma Clean up Pay Back Reserves
$266,818.20
$0.00
Salaries & Wages
$175,640.00
$232,502.40
Association Staffing with 4% increased, (2)
additional staff for violations & one maintenance due to work volume and total closed homes
Payroll Taxes & Benefits
$56,204.80
$74,400.77
Training & Development
$1,200
$6,000
Training & Dev – HOA Staff
Meeting & Community
$280
Community meetings.
Blockwatch
$240
Blockwatch program and any expenses
that come from meetings.
Taxes, Licenses & Fees
$100
Licenses, taxes and fees of Association, which includes the corporate annual tax returns required by law.
Insurance Expense
$22,500
$72,000
Workers Comp / D&O / GL / Equipment / Crime / Umbrella Coverage for HOA Insurance allowing for
5% increase.

6. Financial Review Administrative – Cont… $2,500 $3,000 $3850 $3,850
2018 Budget
2019 Proposed
Legal Fees-General
$2,500
$3,000
Cost of legal activities on HOA
business.
Audit Fees
$3850
$3,850
Annual audit fees paid to an
independent CPA
Bank Service Charges
$600
HOA checking and Reserve Acc $
Credit Card processing fees.
Office Equipment
$1,200
Office Equipment – LCAM HOA Staff
Bad Debt Expense-
Assessments
$91,719.75
$87,356.10
Assumes 3% Homeowners per month
will be delinquent in their
assessments.
Mileage Reimbursement
Reimbursement to Association staff
for mileage while conducting HOA business.
Postage & Copies
$20,681.50
$20,683.09
Charges for financial statements, mailings to residents, etc.
Lease Set Up Fee
$21500
$20,000
Expense to run Lease application
background checks. Offset against income.

7. Financial Review Repairs & Maintenance $51,000 $52,800 $10,200 $7,500
Common Area Maintenance
$51,000
$52,800
Repairs and Maintenance of Association common areas.
Self Help-Maintenance
$10,200
All self help charges are billed back to homeowners account.
Repairs & Maint-Signage
$7,500
Repair & replacement, street signage,
Irrigation Repairs
$40,000
$39,000
Irrigation repair and maintenance
community common property.
Security Gates
Maintenance
$50,400
$50,700
Gate Preventative maintenance
agreement, repairs and any service calls.
Gate House Equipment
$ 2,325
$1,800
Gate house equipment – IT Needs
Pest Control
$1,200
Covers the guard house for monthly pest
treatments for bugs & spiders.
Mosquito Control
$32,568
Mosquito control spraying in the
community.
Repairs & Maint- Asphalt/Walk
Repair/replace damaged sidewalk within
the community. Major repairs covered under Reserve Funds
Plant Replacement-Tree trim
$20,000
$50,000
Replacement costs of the trees, shrubs
and sod in the Community Common areas which are not covered under a warranty.

8. Financial Review Contracted Services $22,015.35 $59,885.00 $648,000
Management Contract
$22,015.35
$59,885.00
Evergreen Lifestyles Management Fee - per
closed home. $2.50 per closed home per month +
website fee. First increase since 2015
Landscape Contract
$648,000
$675,000
Landscape maintenance of the Community Common
Area Property. This contract is an all-inclusive contract. Included in this contract are 30 self helps p/ mon. Covers Landscape contract for school
Cable Contract
$780,145
$828,763
$37 per Home p/ mon inclusive of sales and franchise taxes. Based on 1811 closed homes at 2018-year end. The charge is for Basic Cable Only
Cable Contract - Gates
$12,000
Internet service for Gate controllers.
Gate Programming
$10,200
$15,000
Community access system, Dwelling Live software.
Aquatic Maintenance
Contract
$80,000
$72,000
Maintain all water bodies for algae and
weed control on a monthly basis.
Wetlands conservation contract.
Patrol Services
$48,000
$52,800
Off Duty Officer program - Security Patrol OCSO shifts 365 days
Security Contract
$500,000
$534,849.97
All inclusive contracts to include gatehouse security and roving patrol.

9. Financial Review Utilities $226,800 $5,400 $5,670 $26,400
Electricity
$226,800
Electricity entry neighborhood
monument signage and irrigation pedestals and any arterial road street lighting. 38 accounts including irrigation pumps lift stations, guard house, monument, and
fountains.
Water & Sewer
$5,400
$5,670
Common area irrigation, storm drains and pump stations. KUA & Toho water accounts.
Telephone
$26,400
Phone lines & Fax lines for the association.
Total Expenses
$3,453,973.60
$3,320,148.33

10. Financial Review ASSESSMENTS Increase Developer Subsidy to $520,834.33
2019 Assessment - $128 per home per month, Decreased

11. Bellalago & Isles of Bellalago Resident Committees
Please stand and be recognized,
Thank you for your service to your community.
Advisory Committee Security Committee Landscape Committee ARC/Compliance/Fining

12. Community Standards Update
ARC Requests
404 Total 1/1/18 – 10/15/2018
Top Three
Landscaping Improvements
Screen Enclosures
Paint

13. Community Standards Update
Violations
4800 Total 1/1/18 – 10/15/18
Top Violations
Landscape Related issues
Exterior Home Maintenance
Parking & Vehicle Violations

14. Bellalago & Isles of Bellalago Membership Meeting
Any New Business
Adjournment

15. Bellalago & Isles of Bellalago Board of Directors Meeting
Call to Order/Quorum/Proof of Notice
Approval of the 2017 Meeting Minutes

16. Bellalago & Isles of Bellalago Board of Directors Meeting
Approval of 2019 Budget
Any New Business Adjournment

17. Bellalago Club Review Increase as per the Club Plan - $2
Club Dues for 2019 = $147 monthly

18. Additional Q&A Time permitting!
Original Q&A submitted prior to the meeting can we viewed on – there is a link from the home page on the scrolling banners.

19. Looking Forward to 2019!