Mark your calendars! FVE HOA Meeting: Sunday, November 5 at 7pm

Dear FVE HOA members, 


Mark your calendars! You are all invited to join us this Sunday, November 5 at 7pm to discuss the budget proposal for our upcoming fence project. Due to the availability of the fencing company, we are able to move forward with the project during late November/early December.  The board has decided to postpone the purchase of soccer nets, picnic table/bench, etc. until early spring and are not included in the project proposals.  


November 19th will be our HOA general meeting that will include voting in our board.  We have had a few nominations and will soon send out a summary of the individuals that wish to participate in our HOA Board.  We highly recommend that if you wish to join the board on an official basis, fill out the form under the nomination link below.  If you wish to volunteer for committees only, send us an email and we will reach out to you. 


Below is the proposal layout and costs along with links to the meeting and nomination form.



Yours truly,
HOA Board
Scott French, President
Hussam Zawil, Treasurer
Debbi Raffalli, Communications Officer  
Diana Zawil, Newsletter Officer



1. Fence Project (Nets, picnic tables/bench, etc. purchases postponed until early spring):

Detail

Cost

Images 

(see addendum for enlarged images)

Estimated Start Work

Layout 1

$4,019.30



Upon approval vote; 

Mid November 2023

Layout 2

$8,323.67



Upon approval vote; 

Mid November 2023

Balance Sheet (rounded):


Cash - Checking

$20k


Reserve - Future Repairs

$28k

Cash - Savings

$50k


Reserve - Emergency

$7k














HOA Equity

$35k

Total Assets

$70k


Total Liabilities & Equity

$70k


The HOA balance sheet is very healthy.  Our overall strategy of preventive maintenance and contract re-negotiations have positively impacted our cash reserve. To date, it appears that the HOA is fully funded for future repairs & replacements of HOA owned fencing and property.  The HOA Board’s general budget for the fencing project (including accessories) ranged from $5k to $10k. We anticipate the remaining projects range from $5k to $8k.  Giving the overall budget for the projects, over a two year period (2023 and 2024) range from $10k to $18k. The HOA Board believes the expenditures for the various projects (even at the maximum range amount) would not negatively impact the continuing operations of the HOA and anticipated expense funding over the next 14 months. 



2. New Board Nominations:  In addition to the fencing project discussion, we will be discussing Nominations for New Board Members.  Please enlist today if you wish to join the  HOA Board.


We will be following the HOA doctrine and vote in a Board of three trustees on a yearly basis.  Your current board consisting of only Scott and Hussam will be seeking re-election.  We currently have a few new nominees that will be confirmed and announced by the end of the week.  The voting process and discussion will be announced soon.   


Nomination Signup Link: https://forms.gle/MosvfAvrzD377Mw38





Addendum:

Enlarged images of fence proposal; Layout 1





Addendum:

Enlarged images of fence proposal; Layout 2 (shows only extended fence area). 








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