Northwood Lake HOA Annual Meeting 2/26/2023
Welcome
Board Introductions
Thank you for being here and showing an interest in your community.
Prayer; let your light shine through us by the beauty of this neighborhood and our community support
Ask for nomination to go forward with the current slate of Board Members for 2022 present; Shannon ButsonX, Lynda Cain, Derek Dunn, Michael JohnsonX, Leo L’Etang, Daphne Melvin, Shelly Standridge, Rob StringfellowX, Mandy ThomasX, Kay HoldenX
Members who are present name is followed by an X
Brief comment regarding each existing board members contribution:
Shannon Butson – board member over 10 years, realtor and real estate finance knowledge
Lynda Cain – resident over 15 years
Derek Dunn – Lake Committee, volunteers for physical projects on lake, assists with erosion plan, engineer degree
Michael Johnson – lives in NW Forest, provides website support, manages the ball field
Leo L’Etang – HOA Accountant for past 30 years
Daphne Melvin – subdivision development background served as VP 2022
Shelly Standridge – attorney assists with legal research
Rob Stringfellow – board member over 25 years ago, assisting with mailing list and identifying boundaries of NWL subdivision per by laws
Mandy Thomas – board member over 10 years, reference for outsourcing projects of a unique nature, also grounds and Lake Committee over the years
Kay Holden – active board member for 5 years, served as officer for 4 of the 5 years, father served on the lake committee over 25 years,
Ask for nominations Timothy Hammonds, Penny Medley, Diana Winchester & Mark Frommer to add board members, first & second both elected to Board for 2023, no nays
Additional nominations Johnny Fulmer, Andrea Tidwell, Nan Woodson, Vicki Patterson, Patrick Jones, first & second both elected to Board for 2023, no nays
Open positions President, Vice President, and Secretary, Kay Holden nominated for President, first & second no nays
Agreed to select remaining officers at the first Board Meeting for 2023
Review the highlights for 2022
Finished up bank restoration at NWL Dr W
6 new boat slips created, $125 per year
Step 1 of FEMA guidelines for trimming back growth on dam from Eagle Scout project Zack Gleason
Flag Garden at Union Chapel from Eagle Scout project Dale Hammonds
Financial Review
Assessments were down in 2022 to $100,691 with 481 members from 513 in 2022. Total Income for 2022 $109k and total expenses $143k leaving a $34k net loss. It is abnormal for NWL HOA to experience a loss; the average net income is $20k to $30k. Due to the majority of erosion control invoices falling in 2022 a loss was experienced. No major projects expected in 2023 with the expectation of a $20k net income.
NWL HOA has $147k in bank, $100 in money market, $33 in operating account and $13 in a cash investment account. The goal is not to exceed the operating account balance but to move money at the end of each year from the operating account to the money market account.
MEMBERSHIP 2022 review
481 PAID members
765 homes, 384 resident members 50%
60 non residents
232 Basic
189 Recreation
37 non residents, neighboring subdivisions (15 full @ $350)
Note 105 lakefront properties
We have received $4,598 from past assessments on property sales; py average is $6k
Need 67k per year to maintain or 335 @ basic
Outsourcing our HOA responsibilities for accounting, communication and collections would be $36,000 per year. This does not include pool management or lake patrol. We will continue to be a HOA run by volunteers.
NWL HOA has the opportunity to place liens on home in arrears. Assessments are mandatory for deed dates after 1/1/2004. This is the first rate increase since 2015, 8 years ago. Deed dates prior to 1/1/2004 are mandatory if amenities are used. Many of these residents with deed dates prior to 2004 pay full and basic to support our effort in keeping our home values up.
A membership drive for those with deed dates prior to 2004 who do not contribute will receive a letter informing them about the cost to keep up the pool, lake and common areas.
Collection letters are mailed to members who do not contribute with a deed date after 1/1/2004.
Committees
The Lake Committee, Pool Committee and Events committees are active.
The new volunteer method is to provide Kay Holden your text or email information and when needed an all call is made for volunteers. If you can assist with the project we appreciate your help if you can’t there will be another chance. Also watch Face book Northwood Lake HOA for volunteer events.
Susan Duckworth, Events Committee Team leader introduced herself as a recent resident as of 2022 and is happy to be in a neighborhood that is a community with events that brings us together as neighbors. The Halloween party went well even with the rain. Susan will provide a survey to gather input on what our neighborhood would like to see as far as events.
Pool Discussion
What are we going to do about the pool? Need Committee
Pool is 62 years old, resurfaced in 2017 had leak at that time
Difficult to get management
Cost is excessive, average loss of $16k over past 4 years, income averages $16k, and expenses average $39k per year
Bathing load at max
Water intakes do not work properly
Water line from street to pool is broke, $5,700 estimate to replace
Pump is undersized for bathing load
Chemicals increased from $2k to $5k in past 3 years
Water bill increased from $1,500 to $2,000 per year
Consensus was to form a pool committee with Diana Winchester volunteering to be Chair. Diana introduced herself and has experience as pool manager, lifeguard and managing an older pool with many of the same challenges.
OPTIONS: Continue to pour money into fixing the problems, or establish a Pool Committee come up with 3 viable solutions by September 1st to present to the board.
Pool Committee established with Diana Winchester as Chair over 20 volunteered to be on the committee.
Projects for 2023
Concrete pads at Playground and NWL Dr East landing area
Change boat launch dock to floating dock
Culvert at NWL Dr W spillway, drain pipe rusted out reported to City, in the 2023 budget
Memorial area
Guest Speakers
John Hinton District 3 Council Representative – reviewed the City Financial status and a projects
Joseph Wright ISA Certified Arborist, owner Druid City Arborists
Adjournment