LCRCA Update 7.24.2017

LCRCA Update 7/24/2017

This week: County will be working on Keno Road including mowing & trash removal.

 Homeowner Request from Annual HOA Meeting:

Tennis Court recondition – add Basketball courts

Sign Trash Compactors to clearly remind Owner / Guest of acceptable items

Contact County and report Ramp concerns with loitering – completed

Sign recommendation in Ramp area regarding car / trailer parking suggestion & policy

2017 Accomplishments & Changes

  • Property Manager position eliminated
  • House Doctors awarded Security, Grounds, and Maintenance contracts.
  • Insurance overhaul & agent(s) change – increased coverage includes umbrella policy ($10MM), property damage & common grounds, Fidelity bond and D&O Insurance. Having proper coverage does come at a price with 2017@ $16k versus $4k in 2016. We will be working with Finance committee to offset cost without reducing services.
  • Accounting change with CPA firms; new provider is Shriver & Co. We have automated every aspect of bookkeeping in an effort to keep costs down.
  • The HOA is down to eight Members and ten Properties that have a past due balance. We have notified four delinquent owners that we are starting the foreclosure process without payment.
  • New attorney addition; Joe Grimme, hired to focus on Property / Collections opportunities.
  • Current Grounds contract on pace versus budget including the removal of 152 truckloads of debris and overgrowth.
  • We have zero properties in the forced maintenance program today resulting in better overall cash flow.
  • Pools 3, and 5 have been repainted. All pool house/storage units/ grounds received various levels of rehab / replacement.   Pools will be properly closed this season to avoid damage and pre-prep for early 2018 openings.
  • Replaced/Installed critical signs on one way streets; cost associated will assist with  determining 2018 full resort rollout. Comparing cost without compromising quality.
  • LCRCA fences repaired throughout the resort.
  • Boat dock rehabbed.
  • Most LCRCA landscaping rehabbed & cleaned up. The Grounds Committee will review all locations to assess were cost can be reduced.
  • Major overhaul and maintenance on all gates including Indian Creek underway. This is an ongoing challenge due to continuous damage during peak season. Security intervention has allowed to pursue repayment in several situations. We are exploring cost option to integrate 3rd party quarterly maintenance provider.
  • We have updated Security and Cameras in an effort to increased coverage during peak times.
  • Thanks to HOA homeowner we are very near completion of an accurate listing / mapping of properties through PVA.
  • We continue to build on communication by updating website and providing regular email correspondence.

 

Issues that still hold us back and cost you money

  • We finished 2016 with a $60k deficit due to budget overrun, gap was resolved through numerous efforts including eliminating Property Mgr position, automating collections, aggressively pursuing bad debt, offset – delay 2017 projects.
  • Spent $70,989.43 with attorneys handling the Thompson/Westendorf case since 2013.
  • The cost of collection—we have spent $96,211.43 on various collection issues and lawsuits with Orwin over the last 10 years.
  • We need more Members to participate on a committee.
  • We need better participation in Member voting, our goal is 100% representation versus availability.
  • We need to get 100% of homes within 911 compliance. This process will remain a focal point once street signs project is completed. This will serve Emergency Services, HOA Security (time savings), and Guest.

2018 Finance Projects

  • Standardize and simplify the association assessment structure. The only differential would be those in the Villas association with their mandated funds.
  • Align accounts and lots in system to be better organized for 2018 billing and beyond. Need to adjust for lot consolidation that was not considered last year.
  • Establish a higher reserve account to help future insurance rates.
  • The 2018 budget is facing $14K deficit with increased insurance coverage. We need to revisit all line items in an effort to avoid an increase in 2018 assessment (Finance committee priority).

2018 Project List

  • Will review increasing Security during peak season, establish capital investment budget built to support upgrades in cameras, computers, & safety equipment.
  • Engineer to review next section of roads/ditches to improve.
  • Gate 5 overhaul.
  • Resurface tennis court – Basketball installation.
  • Fill in and redesign area that was formerly a pond at Gate 5.
  • Uniform Street signs through resort.
  • Pool 3 pool furniture upgraded (same as #1 & #5), landscaping / cement stain.
  • Pool 1 repainted since it was not done properly last year. Purchase covers for all three pools.
  • Finish replacing mulch with rock in LCRCA garden areas. TBD based on Committee recommendations.
  • Gazebo area fixed and cleaned up—should be complete in 2017.