ASK THE MANAGER Manager Stephen Herr answers a question about capital assessments.
TREASURER’S ANNUAL REPORT FOR 2011
T
his Treasurer’s report provides a preliminary view of the Forest Heights Homeowners Association 2010 fiscal results in advance of the annual meeting, to be held on May 3, 2011. These results are also available online. Once the annual audit is complete, the information will be also available on the website. In addition to the Treasurer, financial review is augmented by the Association’s Budget & Finance committee. The primary function of this group is to ensure that the Association’s dues and assessments are reasonable and necessary and that expenditures are prudent and appropriate. The involvement of this dedicated and experienced group is essential to the Association’s financial health and provides members with an additional oversight of activities as well as a supplemental perspective to the board of directors. The association ended the year with healthy balances in all funds and a stable cash position. This achievement ensures that money will available to undertake the association’s next large activity, the dredging of Mill Pond. Operating results achieved 99.9% of budget in both revenue and expense components, producing a virtual equilibrium in those elements. Achieving these results was no small task, since Oregon’s Business
LOST PETS
GO GREEN
Resources and help for when your pet goes missing.
Vertical wind turbines and electricity—is there interest in Forest Heights?
COMMUNITY ACTIVITIES Sign up for the spring community garage sale.
pinnacle press NEWS AT FOREST HEIGHTS
MAY•2011
Energy Tax Credits (BETC) program was severely curtailed. The operating budget had anticipated receiving $40,140 through this program; no money was available to the association. Thankfully, the association’s manager and staff kept a sharp focus on activities and ensured that regulations were properly followed, bringing in more money through fees than originally budgeted. In addition, delinquent accounts were rigorously pursued, resulting in additional, unbudgeted income. Costs were also subject to scrutiny throughout the year. Under runs from common area maintenance and supplies expenditures were used to fund the Lot 265 Improvement project (corner of Miller and Thompson Roads). In addition, the manager and staff successfully converted to new financial software that will provide more timely and detailed on-going results. Finally, banking services were moved to a new provider, enabling significant reductions in costs for this activity. These latter two achievements took place towards the end of 2010 and, while not significantly impacting 2010 results, provide a good foundation for lower costs beginning with 2011 operations. While the Association is in good, stable financial condition, care must be continued on page 2
FE AT UR E D COLUM N S
Treasurer’s Annual Report for 2011
1-2
Annual Meeting, Board Elections & Candidate Statements
4-5
Spring Community Garage Sale
6
Turn Garage Sale Finds into Treasures
7
Upcoming Community Events
8-9
Guest Column: Reunions With Lost Pets Need Help
10-11
GO GREEN: Vertical Wind Turbines, Go Green Survey and Storm Water Class
12-13
Ask the Manager: Capital Assessments
14
Easter Egg Hunt Recap
15
Compliance Corner: Bark Dust, FPE School Grounds and Pothole Repair
18-19
Forest Park Elementary Spring Carnival
19