Lake Currents, February 28

Page 1

The Official Newsletter of the Lake of the Woods Association, Inc. Vol. 17, No. 21

540.972.2237

LOWA.org

Treasurer’s Letter by Walt Diercks

As your Treasurer, I would like to bring to your attention that on Feb. 19 the Board approved the Budget for LOWA’s fiscal year beginning May 1, 2020. Continuing a process begun in February 2019 with the adoption of LOWA’s budget for the current fiscal year, the Board included a substantial allocation of New Construction and Renovation (NC&R) fees in the budget to improve common areas and reduce the increase in the overall assessment. Specifically, on Feb. 19, the Board included in the budget allocations $280,626 of NC&R fees expected to be collected before the end of the current fiscal year (April 30, 2020), and $215,000 in NC&R fees which the Board conservatively anticipates will be collected during the time period May 1, 2020 through April 30, 2021. This Board action made decisions regarding allocation of NC&R funds a more transparent process by including it as part of the budget process and allowing for more committee and membership involvement. Inside this edition, beginning on Page 6, are the Association’s third quarter financials (November, December, January). Overall, our financial position remains strong, delinquencies continue to decline, and most operating departments are at or near budget. We continue to monitor all budgets, but especially our food and beverage and golf operations that are showing negative variances in this quarter. Also during this quarter, the Association received a clean audit from our independent financial auditors, Adams, Jenkins and Cheatham CPAs. I encourage you to take a few minutes to review the tables and charts in the edition.

THE GROUNDHOG SAYZ “THE BOAT GOES BACK IN THE WATER DECALS EARLY THIS ON SALE YEAR!” NOW!

WWW.LOWA.ORG/FORMS

President's Letter 2 Agenda 2, 11 Association News 2-10 General Manager's Column 3 Board Minutes 3 Financials 6-7 Calendar 9-10 Viewpoints 16 Orange County 21 Classifieds 22-23

Early Boater Registration Starts March 16 Just a reminder to all boaters that your decal must be properly affixed to your watercraft by May 1. NEW: All boat owners are now required to show proof of liability and / or umbrella insurance coverage of $500,000 or more. 540-972-2237

/LOWAssociation

February 28, 2020

Meet Your Member Services Team by Charlie Maneval, Director of Finance

Jane Greenhalgh With the budget process now complete and the annual assessment period just around the corner, we wanted to re-acquaint everyone with our Member Services Team. The staff who work in Member Services are your first line of support for all things related to membership and amenities here at the Lake. And you will find them all critical to supporting you during annual registration, renewal, and assessment time. Member Services is currently supported by five individuals. This month we focus on Jane Greenhalgh. Jane has lived in the community since 2011 and has been part of the Member Services team since 2017. Prior to that, she was a very active participant in the community, serving as a member of both the Election and Pools Committees. Jane also participated in the ad-hoc committee for the CARC project. She has extensive experience managing and administering elections activities in several states throughout the country and continues to support these efforts as needed. Jane really enjoys working with everyone in our community. Every day presents new challenges and provides her opportunities to help members take advantage of the amenities and services offered here at Lake of the Woods. Her enthusiasm for this position is very apparent as she works to get issues or problems resolved as quickly as possible. To this end, do not hesitate to call, email or stop by to see Jane or any of the other Member Services team members if you need support. Please remember to pull together any documentation or support needed, and to have your section and lot information (found on your card) readily available. And while it may seem to be quite busy in Member Services at times, don’t let that discourage you. They will always work to get you taken care of as quickly as possible. As a reminder, Member Services is open from 8:30 AM to 5 PM, Monday through Friday, and from 9 AM until 1 PM on Saturdays. The phone number is 540-972-2237.

Saturday, Feb. 29 Family Date Night 6-9 PM, Clubhouse

Saturday, March 7 LOWA Regular Board Meeting 10 AM, Community Center

Wednesday, March 18 LOWA Regular Board Meeting 2 PM, Community Center

Tuesday, March 3 Special Meeting of the LOWA Membership 7 PM, Community Center

Sunday, March 8 Daylight Saving Time Begins

LOWA Website Links

Wednesday, March 4 Coffee & Conversation with Board Members 7 PM, Clubhouse

Monday, March 9 9.9 Leaf/Brush Area Seasonal Hours Begin: 7 AM-7 PM Monday, March 16 Early Boat Registration begins Early Fitness Center Registration begins

TEKControl (Visitor Management) LOWA.ORG/TEKCONTROL Vote in the ECC Referendum www.LOWA.org/ECCReferendum support@vote-now.com 833-200-0602 https://vtnw.com/go/LOWAResend/


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