Forest Hills Homeowners Association

FHHA 2001 ANNUAL MEETING

Financial and Committee Reports

Mike Sullivan, Treasurer, presented the Association’s financial report on results for the year 2001, and next year’s (2002) budget plan.

Overall, the 2001 year-end financials are projected to show the income being over plan by $1,240, and expenses will be under plan by $379.

The Reserve Account increased by $13,781, which is $219 under plan. The cumulative reserve account is $49,801.

The only expense category not within plan was Common Maintenance/Repairs(water leaks, etc.), which exceeded plan by $2,350. This overage was offset by lower water/sewer expenses and landscape(pinestraw, flowers, unplanned repairs/maintenance) expenses.

The 2002 Budget shows no growth in income and expenses, being the same as the 2001 plan. Monthly homeowner fees will remain at $185.

Planned capital improvements for 2002 include fence repairs at $5,000 and exterior upgrades of $10,000, for a total expense of $15,000. This means the reserve account will marginally grow to $50,801.

Discussions were held on homeowner delinquencies paying monthly association fees and association monthly fee rates compared to other area associations of comparable size.

Committee Reports

Landscape (Dianna Gustafson) – new areas in neighborhood were planted with shrubbery and plantings. Pinestraw savings were significant this year, by Forest Hills going direct to the supplier and taken responsibility for the spreading the pinestraw.

Community Affairs (Lynn Williams) – home values were discussed and overall general state of home values.

Water Maintenance (Joe Wittman) – status report given on water leaks in the neightborhood

Architectural (Joe Whittman) – neighborhood homes were surveyed in 2001 to determine changes made by homeowners, since homes were originally built and compared to actual applications submitted by homeowners to make such changes. Records were updated to bring approvals to status quo. From now on, homeowners are obligated to submit forms requesting any outside changes to their homes.

The BOD is reviewing alternate siding methods for homes in Forest Hills, that will be announced later when the new BOD has reviewed and approved.

Special Reports

Neighborhood Web Site (Don Hall) – information was presented on the FHHA web site identifying what was available in it, how to access it, and encouraging the association members to use it.

Election of New BOD Members

Five new members were elected to the Forest Hills Board of Directors for two years terms. New members were: Katherune Beverly, Kathleen Brady, David Hanson, Pat Kaemmerling and Lynn Williams.