Notes from 7/1/09 Finance Committee (FC) Meeting
Attendees:
Rick Barrett, Austin Godfrey, Lori Denson, John Murray, Bob Yingling, Davor
Gjivoje, Terry Dwyer.
Reports
from Subcommittees:
Water
Company
The American Water Co declined to bid on assuming the water
operations of MKL. The operation would be too small and could not interconnect
with any other of their operations.
Reserve
Analysis
We reviewed
Bob�s second draft. Comments included:
o Separate line item for $500K road improvement in 2031 (major
road cycle to be 25 years).
o Dredging for lagoon, breeder and main lake are on cycles of
5, 20 and 40 years respectively. Change the main lake cost to $350K in 2007
dollars.
o Remove water main item. Assume that mains have life of 150
years and are outside the scope of this study.
o Remove water system fixtures item.
o Include all significant (>= $10K) reserves, including
current reserves for roof and chip/seal. Include under funding sources the dues
which are devoted to these current reserves.
o Average # of MKL properties sold per year is 4.4. The median
of 4 peryear will be used in the reserve analysis.
Working
Schedule:
-
Next meeting
is Sunday, August 9th, 7pm
at John�s. This meeting will review next iteration of spreadsheet and draft
slides for outpost meetings. Bob to update spreadsheet,Terry and John to work on the slides.
-
Mid � August:
Austin, Davor and Bob to meet with reserve study firm to review technical
details of reserve proposal.
-
September:
Conduct 8 Outpost meetings to review cost challenges and funding options with
residents. Meetings will be geographically distributed to cover Lake community.
JRM will recruit locations over summer.
-
Early November : meet with key community influencers to review
upcoming Inform proposal.
-
Mid-November:
Community Inform meeting to present findings/proposals to community (having
incorporated September discussions/feedback). The proposal will include voting
items for upcoming annual meeting.
-
December 1:
Proposal posted on MKL Web site
-
January 2010:
voting on proposals at annual meetings