Lake Currents January 14, 2022

Page 1

The Official Newsletter of the Lake of the Woods Association, Inc. Vol. 19, No. 18

540.972.2237

LOWA.org

General Manager Proposed FY 2022-2023 Budget Presentation Via Zoom by Phil Rodenberg, General Manager, ® CMCA, ® AMS, ® PCAM

On Tuesday, Jan. 18 at 7 PM, I will be holding the General Manager Proposed 2022-2023 Budget Presentation via Zoom. You can find the Zoom information at www.LOWA.org/Budgets or in the yellow box below. This presentation is open to all LOWA Members. I will present the latest version of the Proposed Operating Budget, Contribution to Reserves, and Capital Budget for Fiscal Year 2022-2023, and Fee Schedule Changes which begin May 1, 2022 (the “Revised FY22 Budget”). Based on my current assumptions, the Revised FY22 Budget reflects an annual assessment increase of $121 (7%), from $1,739 to $1,860. This increase is driven by many factors, including assumptions for rising inflation, mandatory minimum wage increases, and the addition of a stormwater management crew. In addition, the results from this year’s Reserve Study review and Condition Assessment required additional funds be set aside for future capital equipment repair and replacement. To help offset the increase to the overall Membership, we have incorporated numerous fee schedule changes for individual amenities and activities. The goal of the Jan. 18 presentation is to discuss the increase in more detail, and to provide an opportunity for you, as Members, to better understand the various components of the budget. Members will have additional opportunities to provide input at the Feb. 5 and Feb. 16 Board meetings. The Budget approval timeline is as follows: • Jan. 19: GM Presents the Proposed FY22-23 Budget to the Board of Directors • Jan. 21: Deadline for Board Members to submit their budget amendments to the General Manager. • Jan. 28: The proposed budget is uploaded to LOWA.org and published in Lake Currents. • Feb. 5: the Board of Directors will vote on the amendments • Feb. 16: Board votes to approve the final FY22-23 Budget and related Fee Schedules • March 15: The final approved budget is uploaded to the website and the Budget in Brief summary will be in Lake Currents.

/LOWAssociation

January 14, 2022

Love Notes

Write a love note to your friends, family or your beloved and we will publish it in our February 11 Valentine’s Classified Ad Special Feature. Price: $0.40 / word

Payment is due when ad is submitted. To pay by credit card (VISA, MC, or Discover), please call 540-972-2278

Deadline: January 31 Email your Love Note and icon selection to: LakeCurrents@LOWA.org Icon Choices

Ads with 25 words or more will include your choice of one complimentary icon. Icons will be black and white, the height of three lines of text (.45 in.), and placed at the beginning of your note.

(1) Hearts A (2) Bouquet (3) Hearts B (4) Roses

(5) Rings A

(6) Cupid

(7) Rings B

(8) Toast

I encourage all members to take advantage of these opportunities to get involved in the budget process, and I hope to see you via Zoom on Jan. 18. If you have feedback about the budget, please email GMOffice@LOWA.org.

President's Letter Agenda Association News Board Minutes General Manager Calendar Viewpoints Orange County Classifieds

2 2 2 - 11 3 3 7 12 13 14 - 15

Jan. 1-18 Clubhouse closed for Maintenance Reopens Jan. 19

LOWA Website Links TEKControl (Visitor Management) LOWA.ORG/TEKCONTROL

Monday, Jan. 17 Martin Luther King, Jr. Day LOWA Offices closed LOW Trash Compactor closed

LOWA Coronavirus Prevention Info www.LOWA.org/CoronavirusPrevention

Wednesday, Jan. 19 LOWA Regular Board Meeting 2 PM, Community Center, Zoom Saturday, Feb. 5 LOWA Regular Board Meeting 10 AM, Community Center, Zoom

Tuesday January 18 7 PM General Manager Proposed FY 2022-2023 Budget Presentation Via Zoom (only)

Join Zoom Meeting visit www.LOWA.org/Budgets and log in for the zoom information.


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