Welcome to the Blue Tree Resort at Lake Buena Vista Condominium Association, Inc. Annual Owners Meet

1
Welcometo the Blue Tree Resort at Lake Buena
Vista Condominium Association, Inc. Annual Owners
Meeting
Welcome

• January 23, 2009
• 930 AM EST
• Blue Tree Resort at Lake Buena Vista Check-In
  Facility

2
Call to OrderCertification of Quorum

• Required Quorum Count - 2,103 Unit/Weeks
• Basis for Calculation 15 of total 14,025
  unit-weeks 2,103 unit/weeks

3
Proof of Notice
4
Notice of Mailing
STATE OF SOUTH CAROLINA ) CERTIFICATE OF
MAILING COUNTY OF HORRY )
I hereby certify that I have caused to be mailed
on 12/12/2008, the Annual Meeting Notice of Blue
Tree Resort at Lake Buena Vista Condominium
Association, Inc. to be held on Friday, January
23, 2009, at 930 A.M. at the Blue Tree Resort at
Lake Buena Vista Check-In Facility, 12007
Cypress Run Road, Orlando, Florida. Said Notice
was sent to all owners of record. Lin
Packard, Executive Administrator SPM Resorts,
Inc. Agent for Blue Tree Resort at Lake Buena
Vista Condominium Association , Inc. Date
12/12/2008
5
Reading and Approval of Minutes
6
Reports of Officers
Financial Reports Trish Docherty, Regional
VP of Operations SPM Resorts Highlights
Achievements of 2008 Reinaldo Gonzalez, Resort
General Manager
7
Maintenance Fee Summary2009 Budget

• Maintenance Fees
• Operating Expense portion - 341.67
• Property Tax - 82.34
• Reserve funding portion - 87.45
• Total Fees for 2009 512
• Total Fees for 2008 512 (2 Bdrm Exec)
• No change in Maintenance Fees from 2008 to 2009.
  2 BR Deluxe and 1 BR also had no increases from
  2008 to 2009

8
2009 Maintenance Fee Comparison (2 bedroom
units)
9
2008 Year-End Financial Recap

• Maintenance Fee Increases (Since 2002)
• A. 5 increase for reserves in 2006,
  and
• B. in 2007, 39.00 to cover increases
  in insurance premiums (insurance premiums
  increased over 450,000 from 2006 to 2007)
• Maintenance Fee Decreases
• A. 14.00 decrease from 2007-2008
• 3. Reserves Were Funded (1,115,899) for 2008.
  Projected Fund Balance in the Reserve Account at
  the end of 2008 is 2,179,117 after expenditures
  of 535,114 during 2008
• 4. Asset of 1.3 million added to the Association
  with the
  completion of the new Check-In Facility ! Paid
  Off

10
2008 Year End Revenue Recap

• Revenue Increases to offset continually
  increasing expenses
• Item 1 Delinquent Owner Rental We have
  continually increased the revenue in this rental
  program since it began in 2006. The positive
  results, as illustrated below
• 1. 2006 Actual Revenues 276,887
• 2. 2007 Actual Revenues 779,497
• 3. 2008 Budgeted Revenues 907,260
• 4. 2008 Actual Revenues 1,090,300

Item 2 Investment Management Through the Board
Treasurers investment plan and oversight of the
daily management of the Associations investment
portfolio, investment interest income of 103,374
was achieved in 2008 despite declining interest
rates.
11
2008 Year End Revenue Recap
(Continued)
Item 3 Late fees and Interest Delinquent
Assessments The Association collected additional
late fees and interest from owners who paid late,
as follows 1. 2008 Actual Late fees
94,864 2. 2008 Actual Interest 74,324
2008 Budgeted Collections 83
2008 Actual Collections 84.3
12
2008 Year End Revenue Recap

• Summary of Additional Revenue Sources for 2008
• Delinquent Owner Rental 1,090,300
• Misc. Revenue Sources 161,007
• Investment Management 107,875
• Late fees and Interest 103,374
• Total from all Revenue Sources in 2008 to help
  offset maintenance fees 1,462,556.
  Approximately 104.28 per owner.

13
2009 Budget Revenue Recap

• Increase in Delinquent Owner Rental Program.
  Increase rental revenues over 2008 budget amount,
  to offset delinquencies - increase of 174,097,
  total revenue 1,081,357 for 2009.
• Increase in Reserve Funding Increase of
  188,636, to level of 1,226,486
• No change in Maintenance Fees No change in
  maintenance fees despite increases in expenses
• Total Revenue 2009 Budget 8,757,295
• Total Revenue 2008 Budget 8,696,246

14
Blue Tree Resort 2006 2009 Expenses
15
Fund Balance Projections Reserve Fund
16
2008 HIGHLIGHTS ACHIEVEMENTS
17
2008 Achievements

• Purchase of Wi-fi equipment.
• Completed installation of flat screen TVs in
  bedrooms of all 2 bedroom units.
• Resurface all Pools Spas.
• Implemented Resort Recycling Program.
• Replacement of Light Bulbs to Energy Efficient
  Bulbs
• Increased Interval International Scores from
  year ending 2007 (88) to year ending 2008
  (89).

18
2008 Capital Projects
526,806.78

• Replaced balcony furniture in the Deluxe Units.
• Installation of resort-owned Wi-Fi service.
• TVs replaced in the master bedroom units.
• A/C replaced in Deluxe Units Building 2.
• Shower Stalls in the Deluxe Units Building 2.
• Awnings replaced in Pool 1.
• Repaired several roof breezeways.
• Repair Jacuzzi tubs in Deluxe Units as needed.
• Resurface all the Pools Spas.
• Continued replacement as necessary of pool
  furniture and washers/dryers

19
2009 CAPITAL PROJECTS
20
2009 Capital Projects
21
ReportsofCommittees
22
Unfinished Business
23
Appointment of Inspectors of Elections
24
Election of Directors
25

• New Business

26
Questions
27

• Adjourn