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COMMUNITy NEWS | FOUR SEASONS BREEZE | OCTOBER 2014 13 Every once in a while I think it is a good idea to review how the social events work here at Four Seasons so that our new residents know what is being offered and by whom. First, we have the Social Committee. This committee has been approved by the board of directors and answers to them. We give a list of events we plan to put on during the year and wait for their approval. These are the paid functions here at Four Seasons and in general there are six a year. They include but are not limited to Mardi Gras, the Fashion Show, the Luau, the Hoedown, Halloween, and New Year's Eve. We usually have dinner dances but in the past we have included game shows and plays. We try to keep the cost of these events between $20 and $25 with the exception of New Years' Eve which is $50 per person. Next we have functions that the Association offers: these include things like the 4th of July, the Art Show, Veteran's Day, and other free events. These will have potluck meals involved and are planned by Cindy Graves, our in-house Social Director. The whole community is invited and welcome to these events. It is a way to bring the community together and give us a chance to meet our neighbors. The third and last type of event is put on by K. Hovnanian sales and is for future residents. New residents and permanent residents are also invited. These functions are also free and include things like the recent Casino Day. These events are independent of any Four Seasons functions, and are carried out and arranged by the K. Hovnanian sales personnel. I cannot close without mention of the upcoming Halloween Party on Oct. 25. Tickets are on sale now, unless the 130 quota has been reached, and this promises to be a haunting experience. At this writing I don't know everything that is planned because the event chair people are keeping everything close to their chests so it will be a fun and surprising evening for everyone. ~ Melody Seewooster Social Committee A special meeting was held on Aug. 19 at 1 pm to begin discussions of the 2015 Budgets for the Front Yard Cost Center and the Springdale Cost Center. After much discussion it was decided to table further discussion until a review of the Reserve Studies could be accomplished. At our regular August meeting we reviewed the July Financial Statements. The following are the significant items: Net Income Year-to-Date was $144,423 and total reserves were $4,407,784. The Accounts Receivable (delinquencies) was $50,435. Our total HOA expenses for July (excluding reserve allocations) were $240,163. This was under budget by $22,375. The Front Yard Cost Center expenses for July 2014 were under the monthly budget by $10,363. The Springdale Cost Center Expenses for July 2014 were under the monthly budget by $425. There were three CD renewals reviewed and a recommendation to combine two and renew at the best prevailing rate not to exceed six months the third to be, at maturity, moved to the money market account was sent to the board. There were three vendor proposals presented and sent to the board with recommendations for approval. Previously the Finance Committee recommended the BOD paint the Springdale Stucco and wood. Subsequently, the BOD approved assuming painting responsibility for the standard unit entry and garage doors. The Finance Committee recommended the BOD approve painting the standard unit entry and garage doors for a cost of $12,815. This brings the total for painting of the Springdale stucco, wood, standard unit entry doors, and garage doors to a total of $96,413. This project will start in January 2015. Reserves are adequate to fund this project. Accounts Receivable update by Wayne Staples report stated we are still in good shape with only one former owner and 14 current owners in arrears. Mike Graves, SCT Reserve Consultants, presented three reserve studies for review. After some discussion, several changes to the studies were recommended. Mr. Graves will make these changes and forward to us the final revised copies of the reports. On Sept. 2, we held a special meeting to review the revised Reserve Studies followed by a recommendation to the board of directors to accept them as presented. After further discussion about the 2015 Cost Center Budgets the following recommendations were sent to the board: Springdale Cost Center budget of $9,992 per month, which includes a seven percent increase in the monthly reserve contribution, be accepted. Front Yard Cost Center Budget of $28,912 per month that includes a reduction in the monthly reserve contribution, of $500. Our next regularly scheduled meeting will be Oct. 28, at 1 pm in the Lodge Conference Room. All homeowners are encouraged to attend. ~ Noel Myers Finance Committee

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