MIRASOL COMMUNITY ASSOCIATION, INC.

MIRASOL COMMUNITY ASSOCIATION, INC.
Annual Meeting of Owners
Mirasol Event Center
1153 Finch St.
Loveland, CO 80537
Thursday, December 10,2015
AGENDA
Registration begins at 10:45 am
Meeting begins at 11:00 am
Call to Order
Introductions
Approval of 2014 Annual Meeting Minutes
2016 Annual Approved Budget Presentation
Election of Officers
Insurance Update
Adjournment
Lunch will be served from Panera Bread
Mirasol Community HOA Annual Meeting
Mirasol Event Center
Friday, December 5,2014
InAttendance: Bill Rumley, Lois Huffman, Roy Poole, Barbara Poole, Sharron Bicking, Larry Lemons, LaVona Lemons,
Harold L Hansen, Clarice Hanson,Sue Mendenhall,Bob Eckhardt, Millie Ternasky, Jeff Fenets,CathyGrassi, Ron Grassi,
Donald Meyer, Marsha Franz, Lenore S. Dudgeon, Betty Watkins,Janie Weitzel, Donna Buls, Moofie Miller, Rich Ekwall,
Kathy Sigg
Moofie called the Mirasol Community Homeowners Association Annual Meeting to order at 9:55 AM on Friday,
December 5,2014.
Introductions: Karen Swiek of Brown & Brown Insurance, representing the Mirasol Association. Karen explained the
insurance policy coverage has a $1,000 deductible with the exceptionof hailor wind damage which is 1%of the building
value.
Ron Grassi raised a question regarding broken windows or possible sewer damage. It was recommended that both
policies, (Association and Homeowners) have a claim filed with windows being the homeowner's responsibility. Lois
Huffman raised a question about liability and was told liability is also the homeowner's responsibility.
Approval of 2013 Minutes: Cathy Grassi made a motion to approve the 2013 minutes with a second from Bill. Minutes
were so approved.
New Business:
Jeff and Bob's terms on the Board were expiring this year. Bill Rumley nominated Jeff and Bob to continue on with
another term. Millie seconded the motion and the motion was so approved.
Introductions of the board were made at this time: Sue Mendenhall and Bob Eckhardt; homeowner representatives, Bill
Rumley; owners' representative, Moofie, Jeff and Rich; LHA representatives.
Moofie reviewed the approved 2015 budget.
Lois Huffman posed a question as to where Mirasol ends and the open space begins. Are there plans for a fence to
designatethis? Bill responded there are no plansat this time, but it will be looked into. LaVona Lemons also weighed in
on the privacy fence issue.
Donna Buls made a request to have the addresses painted on the curb. No decision made at this time.
Ron Grassi had a question on the possibilityof having lightsfor the front door locks. This will be looked into.
Bill explained the snow budget increase this year was due to deficit beingadded and three additionalsnow removals for
the comingyear. Sharlet explained that any unused amount would go into the operating reserves.
It was also noted that the Event Center fee for homeowners would be raised from $88 to $91 per month.
Donna Bulsraised a question regarding insulating windows and Bill suggested using plastic on the inside.
Sue made a motion to adjourn with a second from Bill and unanimously approved.
Moofie adjourned the meeting at 10:25 am.
Respectfully submitted,
KathySigg
Mirasol HOA Executive Board Meeting
Friday, October 23,2015
8:30 a.m.
Mirasol Event Center
MEMBERS PRESENT: Moofie Miller, Jeff Feneis, Amy Irwin, Bob Eckert, Ron Grassi
OTHERS PRESENT: Cheryl Brinker, Sharlet Lee, Cathy Grassi, Larry Lemons, Uwe Pahlen
Moofie calls meeting to order 8:32 a.m.
APPROVAL OF MINUTES:
The minutes of the July 24,2015 HOA Executive Board Meeting were submitted for approval.
Jeff moved they be approved with a second from Amy. The minutes were approved.
NEW BUSINESS:
>
>
New board member, Ron Grassi was introduced and welcomed to the board.
Ron had questions regarding an HOA Reserve Study. Shar explained the reserve accounts to Ron
and stated the 5 year HOA Reserve study is due to be updated next year (end of 5 year period).
>
>
>
Ron discussed retention pond being a danger to children. Mike will look into having signs
installed stating "For Mirasol Residents Only".
Mikeexplained what landscaping contracts cover and does not cover. No weed pulling. Weed
spraying 2 times per year is included in contract.
Mike explained there is a sensor on sprinklersystems refrainingsprinklers from going off when
raining. Not working at this time, Mike will have this checked.
>
Moofie stated the Homeowners voted on landscaping contract.
>
Bobstated there is standing water on SW corner of HO property. Jeff explained the reason and
stated they are waitingon the cityto mark utilities so Gerard Construction can fix the problem.
>
They will be widening St. Louis by 30 feet.
Ron asked if aluminum irrigation boxes can be painted green to blend in with landscaping.
OLD BUSINESS:
>
No old business discussed.
FINANCIALS:
> Shar explained proposed budgets for HOA which includes 3 neighborhoods.
> Shar stated the homeowner budget is stable. There is an adjustment due to water increase.
>
>
Outdoor pest extermination will be added to 2016 budget.
There will be no dues increase for homeowners in 2016.
>
Balance sheets and operating statements were discussed for homeowners and rentals.
> Proposed budgets for 2016 reviewed by board, which were similar to 2015.
> What is not spent in budget goes in operating account forthe neighborhoods.
> Jeff stated there will be a 17% increase in water from the City of Loveland in 2016.
> Rental budgets reviewed, no questions.
> Event Center budget is not voted on by HOA. Event Center owner establishes maintenance fee
and Event Center fee.
> Apartments do not have neighborhood fee and HOA does not manage apartments.
>
Budget is sent out to all homeowners.
Discussion by board to approve budget today or have special meeting. Jeff motioned to
approve all budgets today; rental neighborhoods, common areas & HO budget. Bob seconds.
All in favor.
Homeowner meeting scheduled for December 10, 2015 @11:00 am in Event Center to present
2016 Budgets. Lunch will be served from Panera Bread. All homeowners are welcome to
attend. Information packets will be distributed prior to meeting.
Ron stated the board is very professional.
Bob motions to adjourn meeting, Ron seconds. Meeting adjourned at 9:30am
Mirasol Event Center
Fixed Fee
S = Service
Fixed
Fixed
Fixed
Budget
Projected
Budget
12/31/2015
12/31/2016
S
S
F = Fixed 12/31/2015
Income from HOA fees
S
Service space rental
S
S
Interest Income
F
Debt Service
F
61.008
61.008
61.306
18
Total Income
42.000
42.000
42.000
S 103,008
S 103,026
S 103,306
S
S
ADMINISTRATIVE
S
Staff
Mgt Fee (NOT HOA FEE)
50° o l
Phones
50%
Advertising
s
Legal
s
Computer Support
"0"„s
2.400
2.400
2.400
5i)"<.
2.483
2.614
2.692
80" o
200
250
200
51)"..
600
600
600
50"..
150
326
250
20°..
Computer Supplies
s
Copier Maintenance
s
Office Equipment
s
-
50%
Audit/tax return
Travel & Training
s
Office Supplies postage
s
-
-
s
Contract Labor
Bank dig
50"..
S
Total Admin
Mirasol Van
s
Resident Serv ices
s
5,833
6,189
S
6,142
S
S
S
Total Resident Services
S
UTLITIES
Elec
F
5.729
5.413
5.738
Water
F
1.870
1.716
2.044
Gas
F
2.479
2.41 1
2.481
Sewer
F
292
438
460
Street/strom drainage
F
Total Utilities
11,832
2.303
2.193
1.462
S
S
12,171
S
13,026
MAINTENANCE
750
Supplies and Materials
F
Appliance parts
Grounds Supplies
F
F
750
750
750
Cleaning Supplies
F
500
500
480
Maintenance Fees
F
6.935
7.500
6,935
Maint. Fee Casual
F
3.159
3.000
3.160
Cleaning Contract
F
7.000
7.000
7.000
even; <c- B:a; MnlC UJ
800
700
-
-
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Mirasol Event Center
Fixed Fee
S = Service
Fixed
Fixed
Fixed
Budget
Projected
Budget
F = Fixed 12/31/2015 12/31/2015
12/31/2016
Exterminating
Contract Repairs
F
514
514
514
F
4,385
4,000
4,000
Rubbish
F
780
700
780
System Monitoring
F
830
600
830
Grounds
F
3,850
3,850
Snow removal
F
4.620
4,620
3,850
4,620
Inspections
F
711
711
711
S
Total Maintenance
34,834
S
34,445
S
34,380
NON ROUNTINE MAINT.
Flooring 2015/Exterior Door 2 016
F
4,000
Landscaping
F
1.000
1.000
1.292
5.000
1.000
4,084
2,077
1,855
1.966
Total Non Rountine Maint.
2,792
T.AXES .AND INSURANCE
payroll benefits - flea
workers comp
employee insurance
Other Employee benefits
Employee tax & benefits
S
Property and liability
F
Total Taxes and Insurance
S
2,077
S
1,855
S
1,966
Total Operating Expenses;
S
54,576
S
55,660
S
59,598
Mortgage Prin & hit
F
Debt Paydown
F
Reserve Draw
F
Cap Reserve deposit
F
42,754
42.754
42,754
(2,792)
4,500
4,500
4.500
Total Financial
S
47,254
S
47,254
Total Expenses
S 101,830
s
102,914
Overage)ShortfaIl)
S
1,178
S
112
S
Fees
S
31
s
31
S
S
44,462
S 104,060
(754)
31
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Mirasol HOA Budget
HOMEOWNERSHIP UNITS
Units
24
24
24
2015
12/31/2015
12/31/2016
projected
Budget
Income
$ 41,895
$
42,224
Budget
$ 42,194
Misc
1,464
$ 43,359
$
42,224
$
4,044
4,044
$
6,935
6,935
$
Total Income
Fee * 24 units *12 months
42,194
Utilities
Water
Total Utilites
$
4,883 2015 budget times City 8.3% increase due to wet year
4,883
Maintenance
Supplies and Materials
Maintenance Fees
Tree Spraying
Cleaning
Exterminating
Contract repairs other
250
250
1,500
1,500
2,500
3,000
8,750
7,125
1,200
3,000
8,750
7,125
1,500
8,750
3,751
Ground Contract - Lawn
Ground Contract - Snow
Total Maintenance
250
$ 15,751
$
20,625
$
Contract numbers good through 2016
Contract numbers good through 2017
22,825
Financial
Reserve deposit
5,734
6,086
8,750
(6,086)
8,064
Total Financial
$ 22,548
Total Expenses
42,343
$ 1,017
Insurance
Special project- Fence
OperatingReserve Deposit
Reserve draw fence
Net Income/Loss
Fee per unit per month(FJ $
$
147 I $
6,600
6,422
8,064
8,064 Reserve Payment 28/mo per unit
14,664
$
42,224
147 | $
I0%inc
14,486
42,194
147]
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Mirasol HOA Budget
RENTAL UNITS
31
Units
2015
12/31/2015
12/31/2016
projected
Budget
Budget
Income
44,640
44,745
43,704
Total Income
44,640
44,745
43,704
Water
5,331
7,313
6,351 2015 budget times City 8.3% increased 10% since 2015 wet year
Total Utilites
5,331
7,313
6,351
2,320
2,320
2,000
Ground Contract - Lawn
16,288
17.240
17,240 Contract-
Ground Contract - Snow
16,235
15,759
16,000
Total Maintenance
34,843
35,319
35,240
Reserve deposit
Operating Reserve
2,113
2,113
2,113 $5.68/unit/month
Total Financial
2,113
2,113
2,113
Total Expenses
42,287
44,745
43,704
2,353
0
131
120
Utilities
Maintenance
Maint Fees
Supplies
Contract repairs grounds
Financial
Net Income/Loss
Fee Needed
_
2014 Operating excess goes to pay previous Operating Deficit
117
Rental 20l6C.UJiei»\ClJn(i\A|i|Odl»\LoailvMjcrosomWi™iowMTrm|>o«ary Internal FRasYCOfllenl OutlookVZUI ISHTEVMuaiolHOA tx»)flcl 2010
Mirasol Community
2016 HOA & EC Fees
Apts
Rentals
HO units
Event Center - Biding Mnt
$
31
$
31
$
31
HOA Common
$
46
$
46
$
46
$
117
$
147
Neighborhood Fee
HOA Fee 2016
S
77
S
195
$
224
HOA Fee 2015
$
77
$
198
$
224
HOA Fee 2014
$
74
$
191
$
221
HOA Fee 2013
$
166
$
275
$
308
HOA Fee 2012
$
166
$
261
$
310
HOA Fee 2011
$
156
$
238
$
297
HOA Fee 2010
$
156
$
238
$
297
HOA Fee 2009
$
150
$
233
$
292
HOA Fee 2008
$
132
$
212
$
265
Event Center Services 2016
$
99
$
99
$
99
Event Center Services 2015
$
91
$
91
$
91
Event Center Services 2014
$
88
$
88
$
88
HOA Fee Summary CAUsors\CBnn\AppData\Local\MicrosomWindows\Temporary Iniomot Files\Content Outlook\ZB115RTBCopy ol Mirascl HOA budget 2016
Mirasol HOA Budget
C omnion Area
164
164 units
2015
2015
2016
projected
Budget
Budget
Income
110.206
91.472
96.445
Total Income
110,206
91,472
96,445
Fee Amount * 164 units a 12 months
Administrative
Advertising
Mgt Fee
Legal
Audit & Taxes
Miscellanous
-
-
18.912
18,912
18,912
110
2.500
2,500
3,000
tax return & audit
300
38
173
250
250
21,733
21,662
22,962
Water
4.956
4.271
5.903
Total Utilities
4,956
4,271
5,903
Bank Fees
Total Admin
$100/ month plus 9/ unit per month
500
Utilities
2015 bwket times City S.3°o increased 10% since 2015 wet year and
increased area
Maintenance
Supplies and Materials
Roads & Grounds Supplies
Decorating Supplies
300
600
400
1.500
1,200
1,400
10.733
10.733
4.365
4,365
1.200
2.000
10220-Split between HOA Common, Rentals. HOA 110
Maintenance Fees
Landscaping and Lighting
Contract Repairs - Ground sys
Contract Repairs - Extern)
Contract Repairs - Other
1,900
10.399 total 11899
Mikes Recommendation S3365 6 bollard lights between
PI and P2. S4365 landscaping
2.000
100
100
1,900
1.900
Ground Contract - Lawn
14.627
16.911
16.911
Ground Contract - Snow
10.816
11.490
11,000
Inspection Fees
Total Maintenance
Contract
132
45,440
49,431
51,840
Insurance
InsuranceD&O/ business
3,574
3.801
3.932
Total Insurance
3,574
3,801
3,932
11.808
11,808
11,808 S6/ month per unit for reserve
10%inc
Financial
Reserve deposit
Operating Reserve
22.000
Total Financial
33,808
11,808
11,808
Total Expenses
109,512
90,972
96,445
Net Cash Flow-
695
500
44
46
Fee Amount per unit/month
-
46
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