BENT TREE HARBOR

2016 SPECIALBALLOT

2017 Proposed Assessment Increase

Dear Fellow Bent Tree Harbor Property Owners,

You’re receiving this mailing to address a serious financial issue at Bent Tree Harbor. In April there was a ballot issue to increase the annual lot dues assessments to address an expected budget shortfall this year. That proposal was defeated 257 yes, 424 no.

The consequence is that we are projecting a $25,000 shortfall this year in the general fund. In practical terms, this means we will run out of money sometime late October or early November. We were in a similar situation in 2015. By deferring some projects and maintenance late in the year, we were able to barely finish the year with only $2,000 in the general fund.

We have two different ways we’ve been working to address our lack of funds this year: reduce expenses, and increase income.

To reduce our expenses, we’ve cut every employee by 1 hour per shift earlier in the year. We estimate that this save us about $8,300. The downside to this action is the gate is unmanned three hours per day, we’re doing less maintenance, and have shorter office hours.

To increase our income, we’ve rebilled $28,000 in past due bills and have collected about $3,500 in the past several weeks. In addition, we’ve hired an attorney to assist us in collecting monies on properties that are well past due. We’ve collected $1,200 on 1 property and are currently working with 2 others to bring their accounts up to date.

The community also needs to be aware of another set of circumstances that is decreasing our income. More and more property owners are purchasing multiple lots. While this alone is not a bad thing, it does reduce the amount of annual dues we collect. Since 2009, we have 279 less owners who have a single lot. Where we were collecting $110 for those individual lots we are now collecting $55 as a second/third/etc.… lot. That difference means we are collecting $15,300 less per year than we did in 2009.

The last increase to annual dues occurred in 2003. This increase raised dues from $85 to $110 ($25 equating to a 29% increase). Our financial shortfall has been building up since that time. For 13 years, our expenses have gone up (average inflation over this time has been 2% per year) and we have not increased our income at all. Recognizing this problem, in 2013 a vote to increase dues was proposed and defeated. In 2016, a second vote to increase dues was proposed and also defeated.

On June 4th and August 6th, we held informational meetings to discuss our financial situation with the property owners. We received a lot of good feedback from the owners present. Our biggest expense continues to be the guard payroll. While we have made cuts in all areas of the budget, without a dues increase for 2017, we will be forced to make additional cuts to the guards and gate.

At the August 6th meeting a majority of the owners present agreed that we should have another vote to raise 2017 dues before the annual statements go out in November. We will still need to address the best possible method of keeping up with our yearly expenses in the future.

The proposed increase is $25 for the 1st lot and $12.50 for each additional lot. This should raise an additional $33,000 in 2017. Anything less than will not raise the funds needed to meet our budget needs.

We will hold a meeting at noon on Saturday October 8, 2016 to review the results of the vote. Absentee ballots can be mailed to or dropped off at the office. The deadline for the absentee ballots will be 5 pm Friday October 7th. Those wanting to vote in person on the can do so from 9-11 am Saturday October 8th.

We thank you for your input and support in this matter to improve our community.

Bent Tree Harbor Trustees

BENT TREE HARBOR

2016 SPECIALBALLOT

Current Board of Trustees

Gary Jeffries, President

Chuck Suess, Vice President

Jack Buckley, Office Trustee

Mark Sauer, Maintenance Trustee

Ed Duvall, Security Trustee

31321 Bent Tree Drive

Warsaw, MO 65355

Phone: 660-438-7163

Fax: 660-438-2799

Email:

Office hours are

Mon thru Thurs-11:00 to 3:00

Fri - 11:00 to 5:00 and

Sat-10:00 to 1:00

2017 Proposed Assessment Increase

Currently reads:

Article V

Assessments by the Association

Section 2

2. Annual Assessments. Each current property owner shall be required to pay to the Association, an annual assessment of $110.00 for the first lot owned and $55.00 for each additional lot owned. The annual assessment may be raised by a vote at an annual or special meeting.

All payments must be paid directly to Bent Tree Harbor Home Owners’ Association.

Proposed change:

2. Annual Assessments. Each current property owner shall be required to pay to the Association, an annual assessment of $135.00 for the first lot owned and $67.50 for each additional lot owned. The annual assessment may be raised by a vote at an annual or special meeting.

All payments must be paid directly to Bent Tree Harbor Home Owners’ Association.

YES PASS INCREASE

NO TO INCREASE

Please refer to Article III, Subsection 4- In order to vote all dues and fees must be paid 7 days prior to the election. All absentee ballots must be received by 5pm October 7th. The absentee ballot must be signed and dated.

Sign: ______

Block: ______Lot: ______

Date: ______

BENT TREE HARBOR

2016 SPECIALBALLOT