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Circle C Ranch Annual Report
How is Circle C Homeowners Association Organized?
This is a brief summary of the Circle C Homeowners Association (CCHOA). CCHOA members are the residential property owners of
Circle C Ranch. Residential development within Circle C Ranch is almost complete, so most property owners are homeowners. Developers
and builders own the remaining property. The essential and primary goal of CCHOA is to preserve and enhance our property values.
Defining Documents
CCHOA is defined by a set of documents initially laid out by the developer (Gary Bradley) and subsequently modified by homeowner
voting. These documents include the Certificate of Incorporation, the Declaration of Covenants, and the Amended Bylaws of CCHOA. We
have adopted the Model Code to set standards of ethics and behavior for volunteers and homeowners.
• Certificate of Incorporation: http://www.circlecranch.info/documents/AssociationDocuments/GoverningDocuments/
CertificateofIncorporation.pdf
• Declaration of Covenants, Conditions and Restrictions: http://www.circlecranch.info/documents/AssociationDocuments/
GoverningDocuments/declartionofcovenantscircleCranch.pdf
• Amended Bylaws of CCHOA: http://www.circlecranch.info/documents/AssociationDocuments/GoverningDocuments/cchoabylaws2005.pdf
• Model Code: http://www.circlecranch.info/Model-Code.asp
Board of Directors
The members of CCHOA elect a volunteer board of directors (BOD) to run the association. The board consists of seven people, all of
whom must be property owners. Directors are elected for three year terms. We have three director seats whose terms expire in 2007 (Carolyn
Merritt, AE Martin and Steve Elmore). Ryan Garcia and Michelle Moran will be up for re-election in 2008. Brendan McEntee and Sam
Irwin will be up for re-election in 2009.
As of this writing the CCHOA BOD has four officers: President (Sam Irwin), Vice President (Ryan Garcia), Treasurer (AE Martin) and
Secretary (Brendan McEntee). Michelle Moran, Carolyn Merritt and Steve Elmore also serve on the board. You can email the board at
directors@circlecranch.info
The CCHOA BOD is responsible for maintaining our common areas and enforcing architectural control for new construction and home
improvements, and for enforcing deed restrictions. The common areas include the Circle C swim center and many small plots of land
around the neighborhood.
Finances
The final income and expense report against budget for 2006 will be printed in the March newsletter since year end statements were
not available at the time this report was written. However, indications are that the year will end with positive results for income over
expenses. It should be noted that the amenities transfer fund of $450,000 planned for 2006 did not occur, but that there were expenditures
for master amenity planning which were paid for out of regular dues income. Transfer of the amenities fund continues to be delayed due
to the bankruptcy court but the fund continues to grow and is estimated to become approximately $850,000 at year end 2006. If this fund
transfers to Circle C in 2007 it will be placed in a reserve account designated for use as prescribed by the transfer documents.
The 2007 budget is included in this report and reflects some changes in format. The most significant change is the separation of operating
expenses and capital expenditures. In the past these two types of costs were intermingled on the expense side of the profit and loss report
which made it difficult to track capital projects. For 2007 retained earnings, which is defined as the excess of income from all sources
over operating costs, is estimated to be $450,000 and will be the basis for the capital budget and reserve funding. The board has approved
a capital budget of $325,000 which will fund improvements at the swim center and parks, and landscape capital improvements will be
approved at the end of this year. Any excess of retained earnings over capital projects will be available to increase reserves.
Another change from 2006 to note is the line item for income from new swim center programs being implemented by our Aquatic Director.
Also, with the pool closed during the winter months savings will be realized in water heating costs. Additional cost savings in 2007 will
come from better management of our insurance policies which will result in improved coverage at less cost.
Finally the process of establishing the budget has been improved by including more detail for income and expense line items, establishing
a basis for determining the annual capital budget, introducing a three year financial planning concept, designating the allowable use of
reserves, and including multiple board reviews before final approval of the budget.
Operations Staff
The CCHOA BOD has two employees to manage neighborhood operations: Denise Nordstrom (operations manager) and Gale Foster.
Denise reports to the President of the BOD, and Gale works for Denise. Kelly Schmidt is our Aquatics Director and Pool Manager, and she
reports to Denise. She has a staff of assistant pool managers and lifeguards. We have contracted with Circle C Landscape (owned by
II Circle C Ranch 2007 Annual Report - January 2007
Copyright © 2007 Peel, Inc.