NEWS LETTER November 2011

GRISTMILL MEETING 11/15/2011

President, Nick Caletges Condo fees will remain the same through 2012.

With four years of cost control and our good fortune of new roofs your committee is pleased to announce it will pay each home owners Walden Ponds Annual $300.00 Fee. Total cost $15,000.00.

VicePresident,Peggy Gauck First of all, I would like to say that I'm proud to serve on the Board with all that has been accomplished in the past three years. Nick and Joe have done an outstanding job. Tim and Pam continue to do for our community every day. Jackie and Dick, we appreciate the news letter that keeps us informed. Lastly, it's a pleasure to have Barb on the Board.

Treasurer, Joe Hartleroad reported October year-to-date expenses are budget by$8,798 and estimated surplus of $7,577 is forecasted at year end. The Board made a decision to allow all homowners to share in the past four year budget surpluses by paying all of their 2012 annual fees of $15,000 to Walden Ponds. Once this 'extraordinary transaction' is processed, the estimated 2011 year end surplus gain of $7,423) which represents, not a loss but a reduction of surplus cash. The 'extradordinary transaction" is giving money back to the homowners. If this transaction was not made, the Association would have $31,000 surplus money on the balance sheet which is way too much money. After this transaction is made, the Association will have a surplus of $16,000 on the balance sheet at this year's end which is adequate to handle any unplanned, abnormal expenditures that may occur.

As of the end of October Cash for Reserves was $163,757. The Cash Reserves are invested in four CD's with interest rates ranging from 1.0 to 1.5%

Total Cash for Operations was $30,273 which represents money that is available for the day-to-day operations of the Association. Included in this amount is a budget surplus carried over from the last three years of $21,080.

Joe presented the approved 2012 budget of $141,365 which had no increases in fees. Also, he explained major deviations from the 2011 budget to the 2012 budget.

A long range plan for major expenditures is in the process of being developed due to the new roofs. This plan will be presented for approval by the board sometime in December and will become effective on January 1, 2012

FIND IT ON GRISTMILLCROSSINGS.ORG

CONTINUED

Secretary, Barbara Roof is in charge of a $300. petty cash fund.. Any receipt spent for the Association for $75 or less should be turned into Barb for reimbursement.For thoes of you who plan an extended absence from the community should notify Barb Roof (893-2639) of an address where she coluld send news letters or other types of communications and the dates of departure and return; also if you have a computer available you could keep up to date by visiting our web site.

Maintenance, Tim O'Leary 2012 Projects

The first Board approved project for 2012 is to add one and one half inches in depth of asphalt to the fingers on both sides of Ashton Circle Drive. The one exception is the fingers that borders condos 2784-86-90 and 2792. The old asphalt will be removed and regraded and paved with two and one half inches of asphalt. A notice will be displayed notifying all homowners of the start date. Shutter painting is completed. A couple of pines are questionable near the clubhouse

Clibhouse Committee: Pam O'Leary
Nothing to report

General Information:
Dec. 3 ---10:00AM- Decorate the Clubhouse
Dec.17---- 4:30PM- Christmas Party at Clubhouse
Dec.31---- 7:00PM- New Years Eve at Clubhouse
Casual get together - bring snacks & drink of choice
No other plans as yet for 2012

General Comments
The Association has received the INDEPENT Auditors Report for the year ended December 32, 2011. No descrepancies were noted and, in the opinion of the Auditor Dale Werk, the Association is in good financial condition.

NOTICE - NOTICE - NOTICE - NOTICE - NOTICE
If anyone in Gristmill Crossings has information, an idea or event that may be interedting to the community, please contact one of the oficers so that it may be considered for the news letter or the WEBSITE.

The news letter and website are maintained by Dick and Jackie Brown 887-7465.

The Board approved the following mission statement: “It is the mission of the Board of Trustees to pursue the preservation of maintaining the beautification of the community while ensuring financial integrity and stability so as to maximize property values for all members of the Association.

FIND IT ON GRISTMILLCROSSINGS.ORG