Category Archives: 2023 Meeting Minutes

April 10th 2023 – Board Meeting Minutes

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LAKE OF THE WOOD COMMUNITY CLUB Board of Directors’ Meeting April 10, 2023

Meeting called to order at 6:08 p.m. by President, Karen Gore.

Present: Karen Gore, Tanya Michaels, Cynthia Mcclurg, William (Bill) Sidwell, Ed Nielsen, and Barbara Dommert-Breckler.

Community Members: Amanda Bash and Steve Shobe. Additions to Agenda: None

Motion: Reviewed minutes for March 13, 2023 meeting. Motion made to approve minutes as submitted. MMSP

Financials:

No AP expense register submitted. Checks from March 2023 will be approved next month.

Reports:

President: No report.

1st Vice President (Water System): No report

2nd Vice President (Maintenance): Ed Nielsen reports that all is well with the water system and our maintenance.

Secretary: Tanya Michaels reported that we still have not received word back from Milt Reimer on Lots 216 and 217.

Treasurer: Barbara Dommert-Breckler reports that the due date for assessments to be paid is the 10m of each month or late fees are incurred. She moved to change the late fee day to the 13tn of each month. Ed Nielsen seconded the motion. All agreed. MMSP

Committee Reports:

Special Events Committee: Garrett Lebby reported that about 20 children showed up for the Egg Hunt. The Spring clean-up will be held on April 22″° and 23’0. Ed Reports that everything is in place for it. The Kids’ Fishing Derby is set for May 20th. The permits have been sent for and trophies are in the works. The fish plant will be May gtn_ Ed will put up “no fishing signs” advising that from May 9th to the day of the derby (May 20th) no one is allowed to fish so the fish can acclimate.

Old Business: Lot 60 has inquired as to the status of his compliance issue. A letter was sent to him outlining our recommendations.

New Business: There was a discussion on having HOACS draft letters and send them for us stating that (1) if $1,000 remains unpaid and no payment arrangements were made after a year of delinquency then a Notice of Intent to lien & Collect will be sent to the owners. A $35 charge will be charged to the owner. (2) If an owner had $120 or more in delinquent assessments or fees owing the owner would get a Notice of Intent to shut off their water and give them only 30 days to bring their accounts current. (My notes do not reflect that these two items were ever voted on.)

Steve Shobe, who is on the Architectural Committee, advised he has received calls, etc. inquiring if we allow shipping containers and/or short-term rentals (i.e. Air B&Bs) in Lake of the Woods. There was a general discussion and Steve provided us with Bulletin #82 on Residential Shipping Containers, a copy of which is attached. Increased insurance rates were of big concern, as well as vandalism rates, etc. There is a concern that people who don’t own the properties will not be worried about caring for our lake, our parks or our amenities. Steve advised us that on April 17th at 6:00 pm at the tractor shed the Architecture Committee will hold a meeting to discuss issues and make recommendations for the AC Declaration. All members are invited to attend.

Meeting was adjourned at 7:05 pm. Minutes submitted by:

Tanya Michaels Secretary

March 19 2023 – Special Board Meeting

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LAKE OF THE WOOD COMMUNITY CLUB

March 19, 2023

Call to Order by Karen Gore at 9:10 a.m.

Board Members Attended: Karen Gore, Dave Tyler, Ed Nielsen, Tanya Michaels, and Barbara Dommert-Breckler.

Community Members Attended: None

An email from Natasha lrvin at HOA Community Solutions was sent to the Board of Lake of the Woods Community Club on March 15, 2023 advising us of a concern with the parent bank of AAB, Western Alliance Bank, which is our Association’s bank. It showed us where our liabilities fall with Association funds that exceed the FDIC limit. FDIC insurance covers up to $250,000.00 invested with one institution. Associations with balances that exceed that amount do have options. If they would like to move funds, but need those funds to remain liquid for upcoming projects then an ICS account can provide the additional assurance of coverage and liquidity.

We were told that Lake of the Woods exceeds the limit ($250,000.00) by $77,358.00. Our bookkeeping service — HOA Community Service – strongly recommended our Board give HOA Community Services written permission to move the $77,358.00 from the Operating Account into an ICS account. The ICS account is a holding account essentially a “savings account” that will cover the Association’s funds under FDIC. Our Treasurer, Barbara Dommert-Breckler advised us our Association takes in about $16,000.00 a month.

Barbara Dommert-Breckler moved to have $100,000.00 removed from the AAB Community Checking Account (last four digits 3490) and be placed in the new savings account tied to the checking account (last four digits 3490) for overdrafts. MMSP.

It was moved to authorize Treasurer, Barbara Dommert-Breckler, to move funds from new savings account tied to checking account (last four digits 3490) but keep the balance from zero. MMSP.

Meeting adjourned at 9:47 a.m.

Minutes respectfully submitted by LOTW Secretary Tanya Michaels.

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