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BUDGET RATIFICATION MEETING

BUDGET RATIFICATION MEETING. Twin Lake HOA is turning 50 this year. If you haven’t, please sign in Coffee and water are located in the back Meeting Protocol is in your packet, please review. P lease complete the survey. Meeting is being filmed for those unable to attend.

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BUDGET RATIFICATION MEETING

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  1. BUDGET RATIFICATION MEETING Twin Lake HOA is turning 50 this year • If you haven’t, please sign in • Coffee and water are located in the back • Meeting Protocol is in your packet, please review. • Please complete the survey. • Meeting is being filmed for those unable to attend

  2. BUDGET RATIFICATION MEETING AGENDA 1. Call Special Meeting to order 2. Introductions 3. Declaration of Posting/Delivery 4. Parliamentary Authority 5. Update to Mid-January "Message from President" email. 6. Presentation of the 2015-2016 Budget 7. Open Forum - protocol handout 8. Budget Ratification 9. Adjournment

  3. BUDGET RATIFICATION MEETING • In the January 2015 “Message from the President” I wrote: • Here are the biggest budget challenges • Lake Management • Reserve Fund • Legal fees • I have a slide on each one

  4. BUDGET RATIFICATION MEETING • Lake Management • Should have written “….and Repair of Lorene” • Toxic Algae – Safety issue (Handout available) • Hired an Aquatic Control Consultant to manage our lakes. • Public Meeting last month • Waiting Dept of Ecology decision on permit • If approved – experiment starts in May, approximately $7000.00 • If not approved or if it doesn’t work as planned, Algaecide treatments at $2400 each • Treatment monies this year come from Reserve Fund, operating account next year. • Administrative & consultant expenses come from operating account

  5. BUDGET RATIFICATION MEETING • Reserve Fund • Study determined we were 65% funded • Recommended to be 70-100% • Added $30,000 to fund from operating account • Money obtained from collection process • No additional funding this year – 98% • According to this years study, about $24,000 will be needed next FY

  6. BUDGET RATIFICATION MEETING • Legal Fees • Budgeted $30,000 last fiscal year • Fiscal Year expenses to date are about $36,500 • Where the money went:

  7. BUDGET RATIFICATION MEETING • What didn’t go well this past year • Staff hire • Loss of Treasurer and Bookkeeper • Legal costs • Lake Lorene Conditions

  8. BUDGET RATIFICATION MEETING What went well this past year • Procuring compliance in assessments and esthetics via ‘opportunities to be heard’ and legal action.. • In August last year, we had 85 delinquent homeowners owing over $500 each. Total amount of past due was $123,754 • We now have 73 (62 original) owing $74,342.25 • 13 have been sent to Small Claims Court • 22 on payment plans • 23 current liens • Decreasing Banking Costs – HOA experienced banker • Cheaper Maintenance Company • Lowering Communication Costs

  9. BUDGET RATIFICATION MEETING • Fiscal Year 2015-2016 • Continue to pursue collections • Capital Improvement Fund • Continue cost cutting • Part time esthetics employee • Review copying and mailing expenses • Investigate Professional Management

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  13. BUDGET RATIFICATION MEETING • Capital Improvements ideas for Twin Lakes HOA • Add lights to path at Treasure Island Park • Fountain for Lake Lorene • Install playground at Hillside Park • Modernize 21st street entry • Install water supply at entrances (flowers) • Add Book Exchanges in several locations • 2 way radio system for the Patrol and Office • Covered gazebo in Treasure Island park • Outdoor Pickle-Ball & Shuffle Board courts for seniors • Stock Lake Lorene with Fish • Portable water tank w/power washer. • Add cement slabs under fixed benches • Add more lakeside swings to our parks • Cameras at main entrances to Twin Lakes • Generator for Emergencies • Fitness stations around the path at Treasure Island Park • Add more speed bumps to slow down the traffic • RV Parking • Fix Drainage problem at Treasure Island Park • Twin Lakes designation on our entrance monuments • Add a new Park to “north” side of 320th • WIFI in the parks • Solar Powered lights at all the entrance monuments • Major upgrade to some of the Cul-de-sac islands • slats missing in the chain link fence at TI Park • Replace some of the sprinkler heads lower volume ones

  14. BUDGET RATIFICATION MEETING • Open Forum Time • Ratification – Reading of the requirements • Thanks for coming, please complete the survey

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