Jordan Hotel Homeowners Association Annual Meeting Summary
The Jordan Hotel Homeowners Association held its annual meeting on October 5th, 2019, covering various agenda items such as the election of board members, financial reports, and the preliminary balance sheet for fiscal year 2019. The meeting also included a review of HOA assets, liabilities, and owner equity. Details of candidate introductions, ballot process, and election results were discussed, highlighting the association's financial standing and key decisions made during the meeting.
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Jordan Hotel Homeowners Association Annual Meeting: October 5th, 2019
Jordan Homeowners Association Annual Meeting Agenda Call to order & determine quorum Opening Remarks and Introductions Approval of April Budget meeting minutes Election of Board Members Association 2019 Financial Report Current Capital Plan 2
Owners Association Board President Peter Meulendyk Owner Vice President Bill Cobb Owner Secretary Kristine Conti Owner Treasurer Chris Grimm Owner Board Member at-large Charlene Takesian Owner Board Member Neil Scanlon Commercial Board Member Barb Rooney Commercial 3
Election of Board Members Two 3-year residential board terms are open. 4
Ballot Process Ownership percentage governs the value of each vote Introduction of Candidates Election Time to change ballot vote, if desired Election Results 5
Jordan Homeowners Association Preliminary Financial Report FY 2019 Balance Sheet Operating Results Capital 6
Financial Review Homeowners Association Preliminary Financial Review of fiscal year 2019 conducted by: 7
Jordan HOA Balance Sheet, Assets Fiscal Year 2019 FY 2019 FY 2018 Cash & Cash Equivalents $1,348,768 $947,065 Accounts Receivable, net $212,160 $152,441 Total Assets $1,099,506 $1,560,928 8
Liabilities & Owner Equity Fiscal Year 2019 $14,333 Accounts Payable $34,442 $136,250 Prepaid Dues $112,137 $67,726 Due To Sunday River Skiway $117,395 Reserves - $211,396 Common ($93,009) $1,143,236 Residential $996,222 $113,845 Reserve Road $66,345 $1,686,786 Total Liabilities & Reserves $1,233,532 Owners Equity ($125,858) Retained Earnings ($134,026) $1,560,928 Total Liability & Owner Equity $1,099,506 9
Jordan Homeowners Association Operating Results Fiscal Year 2019 Actual FY 2019 Budget FY 2019 Budget Variance Common Area $1,449,942 $319,105 $1,149,827 $1,449,942 $320,561 $1,129,381 0 Revenues Wages Supplies/Reserves $1,456 ($20,347) Residential $1,355,148 $154,137 $1,173,852 $1,266,778 $154,136 $1,112,642 $88,370 ($1.00) ($61,210) Revenues Wages Supplies/Reserves Combined $2,805,090 $473,242 $2,323,679 $2,716,720 $474,697 $2,242,023 $88,370 $1,455 ($81,656) Revenue Wages Supplies/Reserves $8,169 0 $8,169 Surplus/(deficiency) 10
Jordan Homeowners Association 2019 Capital Projects Funds Residential Common 2018-2019 Considerations 47,500 Road- 4th year accrual- Final Year 47,500 200,000 Roofing Replacement 200,000 75,000 Repayment Common to Residential 75,000 150,000 Future Reserves Residential Unit Upgrades Windows Siding/Painting 50,000 150,000 30,000 100,000 150,000 40,000 40,000 10,000 40,000 100,000 Heating/Cooling Unit Replacement/50 100,000 Total All Projects Total Variance of Actual to Budget 802,500 (802,500) 330,000 (330,000) 472,500 (472,500) 11
Jordan Homeowners Association 2020 Capital Projects Capital Projects Budgeted Funds Residential Common 2019-2020 Considerations 350,000 Roofing Replacement 350,000 100,000 Common Area Carpets 100,000 40,000 Siding/Painting 40,000 20,000 Professional Services 20,000 40,000 Road Alloication 40,000 182,322 True Up 182,322 40,000 30,000 Windows 10,000 125,000 Heating/Cooling Unit Replacement/50 125,000 Total All Projects 897,322 175,000 722,322 Total Variance of Actual to Budget (897,322) (175,000) (722,322) 12
CIP Projects RFID Lock Upgrade PTAC Unit Replacement Phase 1 Roof Replacement Road Replacement
Net Promoter Score Comments The furnishings were in poor disrepair with holes in upholstery and dings on all wood. It looked liked it was furnished by Goodwill. All staff very friendly and courteous - love how they have the not only names but also where they are from on their name tags.. food was excellent - amazing breakfast ! Although the lodging was all that one would need - the decor is a bit outdated and the cell service was terrible, but regardless a fabulous stay. Brad and the others working with him were fabulous Very friendly and accommodating. The staff had our rooms ready extremely early which was a huge help!
Key Hotel Contacts Sarah Petrin Todd Bagdis Amy Perry Joelle Silver Rooms Division Manager Lynn Morin Quality Assurance Kelly Myers Lodging Controller Erica Dewhurst Vice President of Food & Beverage (Nov.,2018) Aaron Fultz Director of Food and Beverage Jenny Gray Director of Owner Services and Spa Karen Saito Owner Services Manager General Manager Hotel Maintenance Manager Executive Housekeeper 17
Thank You for Joining us! What's New and Exciting: jordanowners.net Billing Inquiry Space Available Request link Owner Portal Saturday October 12th, 2019 Fall Fest Jordan Spa Open House, 5pm-7pm. We would love to see you all there!
