Archive for the ‘President’s Update’ Category

October 2007

Sunday, October 21st, 2007

First, I would like to thank all of the Keystone Pointe residents who have volunteered their time to serve our community on the Board or through the various Committees. Second, a big thanks to all of the residents who attend our monthly HOA meetings on a regular basis, your comments and suggestion help our community progress in a positive direction. This being my second year on the board, I can assure you that the greater the participation by residents, the more Keystone Pointe will grow as a community.

In only our first year under home owner control after taking over from the developer, the board has been able to accomplish a great deal even though we have had to deal with some major financial restraints. Some of these accomplishments include; replacing the lighting system at the front of the community, getting sod and irrigation extended to the third phase of the community, set up a community website to provide information for new and current residents (www.KeystonePointe.org). Even though we have made progress this past year, we still have a great deal of work to do.

 

Budget Meeting

Enclosed with this letter you will find two versions of our proposed budget for 2008. Please take note that the 2008 proposed budget is posing some budgetary challenges, including a serious shortfall in HOA dues (as a result of many foreclosures), and we are unable to cut any expenses in excess of what was already reduced last year. Because the objectives of the board are to make sure to protect our investment in our homes and also maintain community pride, this budget will be a very difficult one. I encourage all of our residents to participate our annual budget meeting on Tuesday October 2nd, 2007 6:30pm at the St. Cloud Senior Annex Center, 702 Indiana Ave, St. Cloud, Florida 34769.

 

Budget Highlights

For most homeowners, the first glance at our budget raises some immediate questions and here are some key items we would like to point out. We have 205 homes in our community.

  • Shortfall – As you can see, our current projected expenditures for FY2007 exceed our budget by over $7,322. At the end of the year we are projected to be out of funds. We, as the board, are responsible for the financial stability of the HOA, and we need to increase our budget so we are no longer short on funds.
  • Grounds Expenses – consume 75% of our annual budget, we have 35 acres of common area that the HOA owns and must maintain, and 90 street lights that light up our community at night. The most notable grounds expenses (72% of budget) include:
    • 33% – Lawn & Landscape maintenance
    • 25% – Street Lights Lease with OUC
    • 5% – Lawn and Pest Treatment
    • 5% – Lake/Pond maintenance
    • 4% – Irrigation
  • Administrative Expenses – consume the other 25% of our budget. The main expenses here include:
    • 15% – Management Company (Sentry Management)
    • 3% – Legal expense (non-compliant owners, Liens)
    • 3% – Copies/Printing/supplies
    • 2% – Liability Insurance

We also have a reserve balance of $0.00. So if any emergencies arise, like someone driving into our entrance sign, the board will have to do a special assessment to raise the necessary funds. We would like to make improvements to our community (i.e. More landscaping, trees, park benches, fountains), however at this point in time we are not able to meet our financial obligations.

 

Going Forward

We still have a number of issues to resolve, and these are some of the hot buttons brought up in the last few HOA meetings.

  • Speeding: County ordinance provide for a speed limit of 25MPH when there is no speed limit sign posted, but unfortunately we still have drivers that do not follow this rule. The board is working on getting this solved with local officials.
  • Dumping: It’s been brought to the attention of the board that a few home owners living on conservation area or on a lake/pond are using the areas as there own personal dumping ground. Not only is this illegal, it also shows no pride in our community. We please ask that if you see this occurring to please contact Sentry Management or St. Cloud Police.
  • Stop signs: This is another problem we are facing. Again a few individuals believe that our stop signs are optional and that they do not need to use them. Again the board is working with local officials on this matter.
  • Sheds: We have not received enough responses on the amendments to change the HOA bylaws in regards to the fence. Only 22% responded, we need 75%
  • Wall: It was brought to our attention that the backside of the entrance wall is in horrible condition and has been since before the developer turned control over to the board. We are looking at getting this resolved soon.
  • School bus stop area at the front of the community: We the board understand the importance of keeping the children of this community safe. But it has been brought to our attention that during morning pickups and afternoon drop off cars are blocking the way of regular traffic. We the boards ask that parents that use there cars to pick up children to park them to the right side of the road leaving room for traffic to flow.

 

Revisions to the Association Documents:

We still have a number of issues to resolve, and these are some of the hot buttons brought up in the last few HOA meetings.

  • Garbage Cans: Must be stored on the side of the garage. Although this is not in the documents the Board of Directors has adopted this as an association rule and it will be enforced.
  • Fences: Only white PVC fences will be approved. Keep in mind that any architectural alteration must be approved by the ARC committee.

Please keep in mind, that only through resident participation in our monthly meeting, can the board better understand the needs of our community. It’s also a great way for homeowners to meet their neighbors and be better informed of the issues of our community. I know that many are too busy to attend our monthly meetings, please check the website as we will post the minutes there so you can stay informed.

Sincerely

Luis Marrero

President Keystone Pointe HOA