Sweetwater Annual Meeting 12/02/2015 Minutes The Annual Membership Meeting was held at the Rocky Point Golf Course Clubhouse on December 2, 2015 at 7:00 p.m. Members of the Board were Doug Rothschild, Mike Jordan, Jan Darmody, Terry Thorne, Mike McElroy and Jack Kennedy. Mike Lentz was excused. Tiffany Grant, our attorney, was also present. A quorum was established and President Doug Rothschild called the meeting to order promptly at 7:00 p.m. Doug provided information on housekeeping. Proof of Notice was confirmed by the secretary; previous minutes were reviewed and approved. Doug stated the board tried to set attainable, actionable goals that could be accomplished within 12 months. These included maintaining and improving our front entrance, continuing to build our capital reserve for maintenance and replacement of our infrastructure, encourage and promote homeowner improvements to their properties and continue our extraordinary sense of community. Jan Darmody, Treasurer, explained what her duties were as the treasurer and reported transactions completed during the year. She provided the balances in the Checking account ($59,595.82), Reserved Fund ($294,967.16) Profit/Loss ($105,961.72), Expenses ($50,165.90) and Net Revenue ($55,795.82). Jan was successful in saving thousands of dollars by learning a CPA audit was not required and the year-end financial statement can be prepared in-house. She also moved part of the reserve fund to a different account that earned higher interest, increasing the earnings $800.00 a yr. Mike McElroy, Security, explained his duties and accomplishments for the year. He covered crime related issues, general activities, trouble and maintenance activities. Some of Mike’s accomplishments, replaced resident gate operators, back-up batteries in four gate operators, replaced storm damaged UPS battery for backup for cameras/DVR, Mike Jordan, explained Mike Lentz’s, Architecture duties and accomplishments for the year. Home Improvements, Sidewalks and activities with TECO were explained. Project Approval Forms have increased by 50% over the past year for Home Improvements. Mike explained the improvements made by TECO with the electrical boxes and the work completed on the sidewalks. Jack Kennedy, Landscaping explained his duties and accomplishments for the year. Some of Jack’s accomplishments were manage the landscape for Common Areas, repairs for the front entrances, relocation of the storage unit in the front and replacing the gate fountain pump. Doug recognized Susan Pearsall for her work as Chairman for the Welcome Committee. Leslie Hanlon was also recognized for her outstanding work as Chairman of the Social Committee. Discussion was opened to the floor in reference to New Business, 2016 Proposed Budget and the Election of New Directors. Most discussion focused on two budget line items; the hiring of a property management company, Terra Management, to professionally handle most of the day-to-day activities currently occupying the board’s time, and the continuation of the 2013 resolution to enhance, modernize and improve Sweetwater’s front entry. Most residents who attended the meeting were in favor of hiring the Property Management Company. The concern was the preliminary cost estimates for the entry project may lead to improper use of reserve funds and future dues increases. It was pointed out that the current stage of the project is design plans. The next stage will be construction plans that can be released for bid. Only after bid responses will we know how much the project will actually cost, and how we can phase the project to fit our revenue stream. It was pointed out that in past years Sweetwater voted to roll excess funds into next year’s operating budget to avoid paying taxes to IRS. Our attorney stated the vote was not critical, but we could bring a motion to that end. *A motion was made, seconded and carried to roll over this year’s excess funds to next year’s operating budget. *A motion was made to vote to adopt the budget as it has been presented via the proxies. After discussion, the motion was seconded to move forward with the vote (via Proxies) on the budget as it has been presented. The motion carried. *A motion was made to vote on the Candidates, it was seconded, voted and passed. Members present voted the budget and candidates on their proxies. All proxies were turned in and the Teller Committee convened to conduct the count. The Tally Report was announced to all attendees by the Secretary. (The Teller’s Committee Report is below). It was moved and seconded that the meeting be adjourned. The meeting was then adjourned by President Doug Rothschild. . Sweetwater Creek Property Owners’ Association, Inc. Annual Meeting December 2nd, 2015 AMENDED TELLER’S COMMITTEE REPORT Mr. President: The votes have been counted. As to the subject of the 2016 Budget, there were __107_____votes cast. There were __0___ illegal votes The budget required __54___votes to be approved. There are ___63__ votes For the budget and __44___ votes Against. As to the election of Board Members, a total of __108__ members voted. There were __0___ illegal votes. Jan Darmody received ___73__ votes. James Hanlon received __81___ votes. Mike Jordan received __78___ votes. Jack Kennedy received __75___ votes. Mike Lentz received __76___ votes. Mike McElroy received _84___ votes. Amish Patel received __85__ votes. Janine Schwartz received __33_ votes. Mike Schwartz received __45_ votes