Lake Currents September 8, 2018

Page 1

The Official Newsletter of the Lake of the Woods Association, Inc. Vol. 16, No.810

540.972.2237

LOWA.org

/LOWAssociation

September 7, 2018

Photo Contest Winners! More than 30 photos were submitted and the judges have made their picks. Congratulations to the top three winners! LOWA Gift Certificates were awarded to the winners—First Place, $50; Second Place, $25; and Third Place, $10. Thanks to everyone who participated.

*Third Place* Sunset on Clubhouse Dock by John Fogg

GENERAL MANAGER’S ANNUAL REPORT 48th ANNUAL MEETING LAKE OF THE WOODS ASSOCIATION, INC. SEPTEMBER 3, 2018

*First Place* Fireworks on the Lake by Marco deVito

by Phillip L. Rodenberg, CMCA®, AMS®, PCAM® LOWA General Manager

It is my honor to present the Annual Report to the Membership of the Lake of the Woods Association. This annual gathering is to hear the State of the Association, celebrate accomplishments, and discuss future challenges. LOWA is a resilient and enduring Association that will withstand the test of time, just as it has for 51 years. We are four months into our fiscal year and collections are on target. Reserve Fund Balance is $3.3M, and Reserve Cash plus bank loan funds are adequate to cover this year’s capital spending plan of $6.5 million, which includes the Clubhouse complex project. Operating Cash stands at $2.8 million, adequate to meet our operation and maintenance obligations. Most Departments and Amenities are at or near budget. Assessment delinquencies last year were 1.2 percent, beating the industry standard of 5 percent and reflecting the lowest levels in six years.

See GM Report on p. 3

*Second Place* Summertime Wakeboarding by Mary Kramer

General Manager's Report 1 Election Results 2 Association News 2-10 Agenda 2 Board Minutes 3 CARC Update 3 Calendar 9-10 Viewpoints 16 Orange County 21 Classifieds 22-23

Saturday, September 8 LOW Community Yard Sale 9 AM-2 PM, Sweetbriar Park

Wednesday, September 19 LOWA Regular Board Meeting 2 PM, Community Center

Sunday, September 9 Hunter Horse Show 9 AM, Equestrian Center

Tuesday, September 25 Planning Committee Town Hall on 2019-2023 Budget Major Replacement & Requested Capital Projects 6:30 PM, Clubhouse

September 11 & 12 LOWA Special Meeting of the Board for the purpose of a Retreat 9 AM, Community Center

LOWA Website Links Clubhouse Area Recreation Complex Info LOWA.ORG/CAPITALPROJECTS dwellingLive LOWA.ORG/DWELLINGLIVE Lake Currents online: LOWA.ORG/LAKECURRENTS


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