2023 Budget Assessment Notification to LOTW Community Members – Nov 30th, 2021

 Lake of the Woods Community Club
P.O.  Box 579
Wauna, WA 98395
(253) 884-9256

“A Refreshing Place to Live”

November 30, 2022

Hello Lake of the Woods Community Club Members (HOA)!

At the Annual Membership Meeting on November 6, 2022, the membership ratified (approved) the Annual Budget for 2023.

Per the Membership vote on our Budget for 2023 our Homeowners’ general and special assessments will be a total of $473 (if paid in full, $473.04 in paid monthly) a year per lot.  The yearly assessments consist of $383 ($163 for our community expenses and $220 for our water systems expenses], $50.00 for security and $40.00 per year per lot for the next two years to reach our Reserve Fund Goal of full funding in five years.  This year’s assessment is only $23 more than 2022.  This is due to the volunteer hours of our Board Members and community volunteers who take on work projects instead of the HOA having to hire people.

The 2023 homeowner assessments go into effect January 1, 2023.  The assessment payment options are annually ($473) or paid monthly at $39.42 per month.  Included in this packet are instructions on how to pay your assessments either annually or monthly. (See back page of this letter)

We are beginning year three of our third Reserve Study.  Our reserve Funds are in addition to our operating and maintenance budget.  Because the major maintenance, repair and replacements costs for our water system are significant, but infrequent, it is not practical to include them in our annual budget.  A copy of our Reserve Study is on the community website at www.Lakeofthewoodskpn.com or can be requested by contacting,

Karen Gore at LOTWPresident@gmail or by phone at 425-761-3632. 

Thank you.

Board of Directors for 2023-2024