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Bent Tree Property
Owners’ Association, Inc. Duane Fitch, President (719) 337-6088, FAX (719) 488-3455 www.btpoa.org |
Notice of the 5th Annual BTPOA Budget
Meeting
Dear Bent Tree
Property Owner, February
5, 2008
Day
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Thursday, February
21, 2007
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Time
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6:30
to 8:30 p.m. |
Location
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Woodmoor
Improvement Association Barn
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Directions
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Six-tenths of a mile north of Highway 105 on
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Please
mark your calendar. It is very important for all Bent Tree property owners to attend this
meeting. The Bylaws we adopted at our annual meeting in September 2003 require
that a minimum of 39 lots must be represented in person at the meeting. The
covenants specify there is one vote per lot. To vote on matters that come
before the meeting, you must be current on payment of the annual assessment of
$120 per lot. If you have not yet sent in your payment, please do so now. As
specified in the covenants, beginning February 1, a late fee of $10 per month
will be added to unpaid assessments.
We have some very important matters to discuss. Agenda items include:
·
Discussion and adoption of the 2008 Budget. The draft 2008 budget is
on the back of this letter together with the approved 2007 budget.
·
Electing two members of the Board of Directors. Board members Debbi Maser
and Tom Hilfers have resigned. We need to elect two people to fill these
vacancies on the board. Please contact me as soon as possible if you
would be willing to serve on the board.
This meeting will be an excellent opportunity to make important decisions regarding the future of Bent Tree, meet your neighbors, catch up on what has been happening in Bent Tree and the surrounding area, and discuss any concerns you have.
I hope to see you all there. Please contact me if you have questions or comments.
Sincerely,
John
E. Heiser, Vice President, Bent Tree Property Owners Association
(719)
488-9031, FAX (719) 488-3455, j.heiser@ieee.org, www.btpoa.org
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DRAFT BTPOA 2008 BUDGET |
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2007 |
2008 |
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|
Expense Category |
Budget |
Budget |
Description |
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Architectural Control |
$
300 |
$
300 |
Review of plans |
|
Bank Charges |
$ - |
$ - |
Service fees, return check charges,
etc. |
|
Beautification & Trails |
$
5,100 |
$
6,000 |
Maintenance of entrances, trails,
roadside |
|
Covenant Compliance |
$
6,000 |
$
6,000 |
Jeanne Thomas, 10 hr/month, $50/hr |
|
Dues & Subscriptions |
$
45 |
$
45 |
Membership in NEPCO |
|
Flood Control |
$
200 |
$
200 |
Engineer's review plus maintenance
work |
|
Forestry Committee |
$
300 |
$
300 |
Beetle and mistletoe survey |
|
Meetings |
$
1,000 |
$
1,000 |
Meeting room and refreshments |
|
Insurance |
$ 2,600 |
$
3,000 |
Gen. liability, officers and
directors liability |
|
Legal and Professional |
$
2,000 |
$
2,000 |
Attorney time, tax return
preparation |
|
Printing, Mailing & Supplies |
$
3,800 |
$
3,800 |
BT Log, directory, notices, office supplies |
|
Taxes |
$
250 |
$
250 |
Income taxes on interest income |
|
Utilities |
$
400 |
$
400 |
Lights at Scottswood and Highway
105 |
|
Water Augmentation |
$
9,100 |
$
11,000 |
BT share in Great Divide Water
Company |
|
Web Site |
$ 300 |
$
500 |
Web site hosting, software tools,
etc. |
|
Welcoming Committee |
$
500 |
$
500 |
Printing or purchasing materials,
birdhouses |
|
Reserve |
$ - |
$ - |
To cover contingencies |
|
Total Expenses |
$
31,895 |
$
35,295 |
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|
Revenue Category |
|
|
Description |
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Dues (incld
late fees) |
$
18,504 |
$
30,840 |
257 lots x $120 per lot |
|
HOA Statements |
$
1,200 |
$
500 |
10 x $50 statement fee |
|
Plan Review |
$
200 |
$
200 |
Assumes two house plans reviewed |
|
Interest |
$
2,849 |
$
2,000 |
Interest on CDs (2.5% on $80,000) |
|
Fines |
$ - |
$ - |
Fines for Covenant Violations |
|
From Reserves |
$
9,142 |
$
1,755 |
To cover deficit |
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Total Revenue |
$
31,895 |
$ 35,295
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