Finance Committee History

Finance Committee – Continued


Finance Committee History

The Finance Committee is a sanctioned committee of the Board of Directors of VillageWalk of Bonita Springs Homeowners’ Association and is comprised of five voting members and two non voting members. The Committee operates under the Terms of Reference established by the Board of Directors in 2014. The original Finance Committeee assisted the Town Managers in an unofficial role in budget preparation and other matters as early as 2009.

 

Committee Members – Voting

Pat Antolini – Pat has a Bachelor of Science degree in Finance from Central Connecticut State University as well as additional studies in accounting.  He has worked in Finance for Travellers Insurance, Planned Parenthood and Hartford Life, as well as other organizations.  With these organizations and others, he has extensive experience in expense analysis, budgeting, review of financial statements and legislative compliance. Pat joined the Committee in 2015.

Carl Cappadona, Treasurer of the Board – Carl has a Bachelor of Science degree in Accounting from Providence College, a Master of Business Administration degree from Fordham University and is a retired Certified Public Accountant. He has over forty years of experience in the finance and accounting areas with several respected auditing firms, retiring as a partner with a large, national accounting firm. He has served on the Board of Directors for his condominium association in Sanibel for six years, as Treasurer and Chairman of the Finance Committee. Carl was one of the first members of the (then unofficial) Finance Committee in 2009 and was a member of the Transition Committee.

Tom Hearne – Tom has a Bachelor of Arts degree from Clarke University, Worchester Massachusetts, a Master of Business Administration (concentration in accounting) from the University of Tennessee, Knoxville and is a retired Certified Public Accountant.  He has worked at the University of Tennessee as an Assistant Professor of Mathematics, at Peat Marwick Mitchell & Co., at Gelco Corporation as a Division Accounting Manager / Director of Investor Relations, and as Assistant Division Controller, at Park Nicollet Medical Center as Controller and at Check Technology Corporation as Vice President, Finance and Administration.  Tom is also an AARP volunteer tax preparer. Tom joined the Committee in 2016.

Frank Kearney, Chair of the Committee – Frank has a Bachelor of Commerce degree from McGill University, a Master of Business Administration degree from the Harvard Business School and is a retired Chartered Accountant in Canada.. He has led his own 150 employee business for 18 years, worked in a variety of roles for several multinational organizations, including the Blackburn Group, the Richard Ivey School of Business and Nortel Networks and in the not for profit sector (London Health Sciences Centre). He has extensive experience in business turn arounds, financial analysis, planning and financial projections. He was a member of the Committee which amalgamated eight condominium corporations in London, Ontario. Frank was one of the first members of the (then unofficial) Finance Committee in 2009 and was a member of the Transition Committee..

Vicki Mace – Vicki has a Bachelor of Science degree in Chemical Engineering from the University of Waterloo, Kitchener, Ontario and a Master of Business Administration degree from the University of Western Ontario, London, Ontario. She has worked for a number of large multinational organizations, including Petro Canada, Consumers Gas, J P Morgan and Swiss Re (insurance). She has extensive experience in financial analysis, planning and financial projections, credit and risk assessment.  Her career has included pricing and contract negotiation. Vicki joined the Committee in 2015.

 

Committee Members – Non Voting

Town Manager
President of the Board

 

Budgeting

The Committee helps the Town Manager develop the Annual Budget for VillageWalk of Bonita Springs Homeowners Association and reviews monthly and annual financial results.  The Committee also holds Budget Review meetings to allow owners to ask questions about the annual budget , just before the budget is presented to the Board. For more detail on the budgeting process, visit the Finances / Budgeting page

 

Policies

The Finance Committee, under the auspices of the Transition Committee, developed an Approval Policy for VillageWalk of Bonita Springs Homeowners’ Association. The related Travel Expense Policy is a subset of the Approval Policy.

The Finance Committee has also developed a Late Payment Policy which the Board of Directors has approved.  This policy authorizes a 5% late payment fee for delinquent assessments, 18% simple interest on delinquent accounts and the suspension of use of common elements for accounts over 90 days delinquent, all as allowed by Florida statutes.

 

Audited Financial Statements

The most recent audited financial statements for VillageWalk of Bonita Springs Homeowners Association can be found on the secure portion of the website under Community Directory and Committee Reports – Finance tab.

December 31, 2016 (available in April 2017)
December 31, 2015
December 31, 2014
December 31, 2013
December 31, 2012
December 31, 2011
December 31, 2010
December 31, 2009
December 31, 2008
December 31, 2007

You can also find the audited financial statements which cover the entire period when Pulte/Divosta were in control of the Board of Directors for the period March 3, 2004 to March 3, 2015

The year to date unaudited financial statements for VillageWalk of Bonita Springs Homeowners Association can be found on the secure portion of the website under Community Directory and Committee Reports – Finance tab. These reports show a summary balance sheet at quarter end and a summary revenue and expense statement for the year.

 

Finance Committee Meetings

The Committee meets at least two times per year. The next meeting of the Finance Committee has yet to be determined. The most recent meeting of the Finance Committee was held on January 20, 2016 at 3:30 pm – draft minutes are posted below.

 

Minutes of recent meetings are provided below:

February 7, 2016 (available soon)
January 30, 2017
January 20, 2016
December 3, 2015
April 15, 2015
March 11, 2015
January 21, 2015
March 3, 2014