Lake Winterwood BoD Monthly Meeting Minutes

January 13, 2021

General Meeting

1) Call Meeting to Order (George T.)

2) Attendance and verification of quorum

Board members: George T, Ben M, Dave C, Tom C, Bryan C,

Management: Eydie and Michael L

Guests: Liz C, Dwight M

3) Approval of Minutes from Dec 9^th, 2020 - approved

4) Financial Review October statement, Eydie/Ben:

• Income/Dues Delinquencies
• Year to Date 2020: assessments were up $5k to budget because of prepayments for 2021;
• Ben highlighted changes in budget for 2021; allocated $1500 for striping pickle ball lines on the sport court; $1300 spent in 2020 for fish stocking not budgeted in 2021; reserve fund savings goes up from $1,004/month in 2020 to $1,010 per month in 2021
• Expenses-see above
• Year to Date 2020 expenses: below budget by $5100 largely due to a decrease in insurance expense;
• Eydie: seeking a quote on our 2021 insurance policies, they renew in March
• Reserve Balance ending 12/31/2020: $62,275
• George: discussed rolling over the unspent money from 2020 budget, $5,000 into a savings account for projects and unexpected expenditures that are not listed as assets in the reserves; Eydie suggested just leaving it in the operating fund for use on unanticipated projects; She also stated that their software program cannot track more than two accounts for us, we currently have a reserve and operating/checking account that they track; will continue discussion in the near future;

5) Old Business

• Tom: Activity by cul-de-sac next to big lake: no response from letter sent to the city in November; Tom will follow up with them;
• Tom inspected the swales during the major rain the last couple of days, all are flowing well; also several branches have fallen into the water on the big lake, not causing a problem;
• George, Tom and Bryan cleared drains next to the gazebo; Tom said they were flowing well during the rain; may need to use high pressure water to clear the perforated drain pipes around the big lakes;
• Bryan: Rip Rap rock project on northwest corner of small lake: one bid from Earthworks for $3900 in hand, should have another on Thursday Jan. 14^th;
• Bryan: Status of Big Lake noxious weed removal and shoreline reclamation: Bryan to continue following up;
• George: Reserve study revision; George sent revisions to CEDCORE for review; had a discussion with them; current status after revisions estimated to be 100% funded this year, could reduce current contribution to reserves; could also add funding items not in the study such as major lake maintenance projects; discussion as to what to do with excess funds needs to happen; cannot add new assets using reserve funds; have to use existing funds in operating account or assessments to fund new assets; once the new asset is added, then it is added to the reserve fund asset list for future maintenance. 
• Ratify Voting for votes taken by board outside of a meeting since last meeting; motion to approve, seconded, all ratified;

o   PASSED Voting Results Report - 2020-12-10 to 2021-01-13

• Investing portion of reserve funds: $45k of funds in reserve account currently in a money market. Ben has been exploring ways to increase the interest rate; proposal is to change to another money market account where it may earn a higher interest rate; Ben suggested backing away from current vote for a CD option since there are money markets with better interest rates; all agreed; George to follow up with the Edward Jones rep to review options;
• Board reaffirmed guidelines, as stated above in “Voting Report” for RV/Boat/trailer storage first approved and published by the board in September 1999; again approved and published in September 2004. Guidelines are included in a booklet summarizing the CC&R’s previously distributed to home owners. The guidelines summary booklet will be posted on the MyHOA website and a post card will be sent to homeowners notifying them.

Storage guidelines from the booklet reaffirmed by the board as follows:

Storage Restrictions

No goods, equipment, vehicles (including busses, boats, motor homes, and trailers of any description) and no materials or supplies used for private purposes or in connection with any trade business or service wherever the same may be conducted, shall be kept, stored, dismantled, or repaired outside of any building or approved fence or permitted accessory building on any Lot, or on the street adjacent to a Lot.

Storage period

Equipment, vehicles, goods, material, or supplies shall not remain outside of any building or approved fence for a period exceeding seven (7) days before and seven (7) days after use without specific approval from the Board.

Guest RVs

RVs belonging to temporary guests may be parked in the driveway of a residence being visited for a period not exceeding three weeks. Time extensions require prior written approval by the Board.

·      Home owner Dwight M commented regarding these guidelines that he was not aware of them or the booklet summarizing our CC&R’s. He stated he believes some homeowners have abused the rules in the past by keeping RV’s, boats etc in their driveways for extended periods of time.

6) New Business

• Ben announced he will be leaving the board. Today will be his last meeting, the board will begin recruiting for a new member.

7) Next BoD Meeting:  Wednesday February 10^th; 

8) Motion to Adjourn Regular Meeting; meeting adjourned