~.&.-e1t)~ GREEN SHEET

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1 GREEN SHEET ~.&.-e1t)~ I April 1, 2011 Volume 29, No.6 ANNUAL HRCA MEMBERS MEETING March 17, 2011 Board members in attendance: President Joe Sullivan, Vice President Dan. Henderson, Secretary Fay Farrington, Treasurer.Beth Boast, Directors Gary Butler, Steve Doody, Bob Marabella, Frank Tucker and Ed Walsh Also Present: General Manager Dan Gorden, Administrative Assistant Dodie Frank and CPA David Logan There were approximately 250 residents in attendance President Joe Sullivan called the meeting to order at 10:00 AM. Paul Mills gave the invocation and the Irish Blessing. VFW, Post Number 6389, presented the colors and led the Pledge of Allegiance. Commander Ralph Rogers presented employee Victor Orona with an award for firefighter of the year and Traci Mitchell with an award for emergency medical technician of the year. Notice of this Annual Members Meeting had been posted on the HRCA bulletin board in the Clubhouse auditorium. In addition, notice of the meeting was delivered to the homes of all members. No certified letters were required to be mailed, as all shareowners had signed waivers. Advertisement of the meeting appeared in the following HRCA Green Sheets: Volume 29, No.1 dated January 7, 2011, Volume 29, No.2 dated February 4, 2011, Vol. 29, No.3 dated February 11,2011, Vol. 29, No.4 dated, February 25,2011, and Volume 29, NO.5 dated March 4,2011. President Sullivan declared a quorum present which also included 777 absentee ballot certificates. APPROVAL OF THE MINUTES A motion was made to approve the minutes of the March 18, 2010 Members Meeting as published. The motion was seconded and the minute's stand as recorded. ANNUAL REPORT OF PRESIDENT President Sullivan extended a warm welcome to everyone and introduced the Election Committee and the Board. John Haag then introduced the candidates for the Board, Bill Connelly, Frances Creighton, Bob Hunter and George Wolf. Hawthorne Chorus entertained. Secretary, Fay Farrington, certified that the membership rolls were up to date through March 16, All property transfers and sales of new memberships had been recorded. There were 1,186 shareholders eligible to vote. President Sullivan stated the financial records for Hawthorne are very good. Hawthorne does not owe any money and has invested several hundred thousand recently. The new alarm and TV system should last another ten years. Inspection of the sewers started this year and the Planning Committee established a plan for years to come. One person whose name is mentioned a lot in connection to volunteering is Jim Cook. A big thank you goes to him for all he does for Hawthorne. 1

2 REPORT OF GENERAL MANAGER General Manager Dan Gorden reported that Hawthorne did struggle with the recession somewhat but the net operating budget for 2009 was almost the same for Home sales did increase from 53 in 2009 to 72 in Selling prices have declined but they are expected to stabilize and increase in the near future. The kitchen was remodeled this past year and what a great job. First phase of the paving will start this summer; the emergency alarm and Cable TV were upgraded this year. The sewer system is being evaluated and repaired and negotiations with St John's ended with a five year contract and 2 water meters in each of the 64 zones. A new contract with Florida Cable allows residents to pick and choose the programs they want and this seems to be more beneficial. One of Hawthorne's strong points is their employees. Sandy Alexander, one of the long term employees, will be retiring on July 1 of this year. She has served Hawthorne for 22 years and was instrumental-in starting quite a few of the activity programs here at Hawthorne. We will be having a party for her on June 16, 2011 at 2:00 PM for residents and employees here in the Clubhouse Auditorium. AUDITOR'S REPORT CPA David Logan stated that in his opinion the \ audit was fairly presented. Mr. Logan stated he appreciates the opportunity to be Hawthorne's outside independent auditor. NEW BUSINESS Beth Boast explained full funding of all Capital Reserve Accounts. UNFINISHED BUSINESS None ADJOURNMENT The meeting recessed at 11:50 AM for voting. The meeting was then adjourned at 12:50 PM. HRCA BOARD REORGANIZATION MEETING March 18,2011 Board members in attendance: President Joe Sullivan, Vice President Dan Henderson, Secretary Fay Farrington, Treasurer Beth Boast, Directors Gary Butler, Steve Doody, Bob Marabella, Frank Tucker and Ed Walsh. Newly elected Board Members in attendance: Bill Connelly, Frances Creighton an<ll8obhunter Also Present General Manager Dan Gorden and Administrative Assistant Dodie Frank President Joe Sullivan called the meeting to order at 9:00 AM. President Sullivan explained that the only purpose of this meeting was to welcome new board members, elect new board officers and to reappoint corporate officers. '»~. President Sullivan calledfor nominations for each office. Nominations for President were made and a secret ballot elected Dan Henderson as President. Nominations for Vice President were made and a secret ballot elected Bob Marabella Vice President. Nominations for Secretary were made and a secret ballot elected Bob Hunter as Secretary. Nominations fer Treasurer were made and a secret ballot elected Bill Connelly as Treasurer. The meeting was then turned over to President Henderson who called for the motion to approve the corporate officers. Motion made by Bob Hunter that the Board reappoint Corporate Offices, Dan Gorden, Vice President/Chief Operating Officer, Bill Tschida, Vice PresidentJRealtyOperations, John Hall, Assistant Treasurer and Dodie Frank, Assistant Secretary. Seconded by Beth Boast. Motion carried. President Henderson then stated that he is looking forward to seeing where you wantjo go with the Board and with Hawthorne. Hawthorne-is important and we need to agree to disagree on some issues. We need to hear the negative as well as the positive. The meeting adjourned at 10:14 AM 2

3 RELEASE FOR GREEN SHEET When my wife and I first saw Hawthorne, we could not imagine what it would be like to live here. Our tour driver was Orlin Clark. There was that drive over the bridge to see the wonderful docks and Marina, the magnificent club house, the layout of the houses, and care of the landscape. We wondered if we could afford to buy a home here. Still there were questions. Could we afford to live here? Would there be enough to keep us busy in retirement? What were the people like? By the end of our tour we wanted to find out more. But, you know the rest. Just like you we purchased our house and became a part of Hawthorne. Now, after several years of being a resident and serving on various activities and committees, my belief is never stronger, Hawthorne is the best place in the world to enjoy our retirement. My wife and I are busier than we could have ever imagined. To top all of this, I was elected President of your Board of Directors for All of us are extremely fortunate for those pioneers who had the vision to pull the residents together and purchase Hawthorne from Colonial Penn Insurance Company. We build on their vision of what we are today. Since that time in 1982, many additions have been added for the enjoyment of the residents, We now have a new Board of Directors. I know that each Director is dedicated to the enrichment of Hawthorne. We elected three excellent persons this March to serve a three year term All of us should be grateful they have volunteered to serve our community. There are several ongoing projects that have been planned for in the past few years. The first phase of sewer line repairs has been completed. We have had seepage of ground water because the seams in the pipe joints were giving way. Already we noticed a 75% reduction in the amount of sewage being pumped. This summer we will begin the first phase of a four phase road surfacing. There has been careful monitoring of reserve funds for this repair. Previous Boards had the wisdom to set aside money for improvements. The Long Range Planning Committee has listened to ideas residents had for improving our Community. Sub groups have been researching those ideas and presenting creative answers. Director Fay Farrington has given the leadership for blending those ideas with a timeline to gather resources to bring those ideas into reality. Along with that the Long Range Planning Committee is monitoring what new residents are wanting in Hawthorne. Your Board of Directors is looking forward to a great Hawthorne year. Each Board member is here to serve you. All residents are free to talk to any Board member to share creative ideas or concerns for our community. Dr. Daniel Henderson, President

4 BOARD OF DIRECTORS 100 Hawthorne Boulevard DanHenderson------President BobMarabella--- VicePresident BobHunter Secretary BillConnelly Treasurer BethBoast Director GaryButler Director FrancesCreighton Director FayFarrington Director Frank Tucker Director HRCA WORKSHOP MEETING In The Marina Thursday April 14, :00 AM HRCA AGENDA MEETING In the Marina Thursday April 14, 2011 Immediately following Workshop Meeting HRCA GENERAL BOARD MEETING In the Clubhouse Thursday April 21, :30 PM 4

5 H. R. C. A. FINANCIAL REPORT FEBRUARY 2011 MONTH YTO HRCA (Including Sales) Net Operating Revenue 310,526 Net Cash Operating Expenses 308,658 Cash Operating Gain(Loss) 1,868 Gross Revenues 329,904 ****************************************************************************** 616, ,192 9, ,940 Restricted Reserves Morgan Stanley T. Rowe Edward Jones CD'S Total Restricted Balances at 2/28/11 728,391 76, ,411 50,000 1,420,743 Unrestricted Accounts M/M Market Acc. Edward Jones Cash Total Unrestricted 595, , ,939 1,170,651 Total Cash and Investments 2,591,394 ********************************************************************************************************* Sales Report Homes Closed- February Jan. 1, 2010-Feb. 28,2010 Jan. 1,2010-Feb. 28, , , ,900 Homes Sold- February Jan. 1, 2011-Feb 28, 2011 Jan. 1, 201 O-Feb 28, 2010 Contracts Outstanding Feb 28,2011 Feb 28, , , , , ,400 Sales Listings 56 2,580, ,842,789

6 I-IAPPY EASTER FROM THE HRCA BOARD