NOTICE
COACH HOMES IV AT RIVER STRAND
ANNUAL BUDGET MEETING
Dear Members of Coach Homes IV at River Strand,
On November 10th, 2020 at 10 a.m., the Annual Budget Meeting for Coach Homes IV at River Strand will be held at the River Strand Club House located at 7155 Grand Estuary Trail, Bradenton, Florida.
PROPOSED 2020 BUDGET
Enclosed for your information is a copy of the proposed 2020 Budget to be considered by the Board of Directors for ratification by the Board of Directors at the above noticed Annual Budget meeting.
During this meeting, the enclosed proposed 2021 Budget will be presented for consideration by the Board of Directors for ratification. The proposed budget is recommending a quarterly maintenance fee of $810.00 per quarter per member. The quarterly maintenance fee includes reserve funding utilizing the Cash Flow method (Pooling Reserves) of funding in lieu of Component method (Straight Line Funding of Reserves), said funding recommendation would reduce funding into mandated reserves for roofs, paint, and pavement from $104,908.00 per year ($437.12 per member per quarter) to $63,360.00 per year ($264.00 per member per quarter) as suggested in the current reserve study performed by Sedgewick Valuation Services.
In order to use the Cash Flow method (Pooling Reserves) of funding as recommended, Florida statute requires a onetime vote of the membership electing to use Cash Flow method (Pooling Reserves) as an approved method of funding mandated reserves. The Association’s governing documents require a simple majority of 51% of the membership (31 members) to cast votes to approve the recommended method of funding. Please be sure to vote, as this item is important to permit reserve funding flexibility in this year’s proposed budget and future budgets.
Information to cast your vote inclusive of voting documents is included in this notification. The meeting agenda is also included within this notification package.
Submitted respectfully on behalf of the Board of Directors,
Dev Doyno
Dev Doyno LCAM
Senior Community Manager
Coach Homes IV at River Strand
NOTICE OF MEETING
ANNUAL BUDGET MEETING – COACH HOMES IV AT RIVER STRAND
November 10th, 2020
Meeting Agenda
· Call to order
· Verification of the Board of Directors by Roll Call
· Verification of Proper Notice of Meeting
· Collection of Ballots for Vote by Members as to Reserve Funding Method
· Computation of Votes to Determine Reserve Funding Method
· Verification of Member Voting Quorum
· Declaration of Vote Results
· Financial Report
· Presentation of Proposed 2021 Operating and Reserves Budgets
· Board Discussion
· Membership Questions and Opinion
Members with Questions or Comments upon Statement of Name and Address will be allotted up to three (3) minutes to ask Questions or State Comments.
· Call for motion to ratify the 2021 Proposed Budget, Board Discussion, and Board Vote
· Adjournment of Annual Budget Meeting
