LAKESHORE WOODS ASSOCIATION, INC.
Minutes of the 18^th ANNUAL MEETING
May 26, 2007
Location: The Pavilion
 

The Association President, Jim Hogan, formally opened the meeting at 11:27 A.M.  It was determined that there was a quorum of Members necessary as specified in the By-Laws of the Association.   The following lots were represented at the meeting:  8, 9, 10, 11, 12, 15, 17, 21, 23, 26, 27, 28, 30, 35, 44, 45, 46, 47 & 53.

Minutes of 2006 Annual Meeting had been posted on the website and copies were made available at this meeting.  A motion was made, properly seconded, and unanimously affirmed to approve the prior year’s Annual Meeting Minutes.

Treasurer’s Report

The Secretary-Treasurer, Jay Youngquist, made available a copy of the 2006 year-end financial report he had prepared which showed a Balance of Funds of $37,534 as of the end of 2006.  There were no accounts receivable as all annual dues and associated late fees had been received.  In addition, there was approximately $2,386 of accrued CD interest.  The report also included a Statement of Revenues & Expenses, Budget Status, Balance Sheet, and 10-Year Financial History (1997-2006).

Jay noted that the power washing and re-staining of the pavilion and common area decks was completed last fall although budgeted for in the 2007 Budget so the he had adjusted the budget for 2007 accordingly. 

All 2007 annual assessments had been received.  The 2006 taxes for federal and state had been recently paid and that the only other 2007 expenditures had been for meeting fees, office expenses, postage, a single mowing, 5 replacement shrubs, and trash collection for the next year. 

Member Jerry Perkins asked if the was an established time-table for power washing and re-staining of the Pavilion and Common Area decks.  It was noted that there was currently no time-table and that during the budgeting process each year, expenditures for these kinds of maintenance and improvements are considered.  There was a consensus that this was an appropriate way of monitoring and considering the need for such items.

There were no additional questions pertaining to the Treasurer’s report.


Election of New Directors


The Secretary-Treasurer Jay Youngquist reported that Notice of the Annual Meeting had been properly sent to Members of record more than 30 days, but less than 60 days before the meeting, as required by the By-Laws of the Lakeshore Woods Association, Inc.

President Hogan reported that there were 3 open director positions.  As of the meeting date, there had been only 2 Members who had expressed interest in serving; current board members, Jim Hogan and Jay Youngquist.  He asked if there were any Members present who would be willing to fill the remaining open director position.  Mark Itzkoff expressed interest at the meeting.  As there were no other Members at the meeting who expressed interest, nominations were made, properly seconded, and unanimously affirmed to name these three Members as Directors to fill the 3-year director terms.


Report of the Environment Control Committee

Vice President & ECC Chairman Frank Dietrich reported that he had finally secured trash collection services for the Association.   The port-a-potty had been installed (from a new service) for the summer.  There are plans to add sand to the Beach Area and to build platforms and enclosures for the trash cans (90-gal. requested) and port-a-potty.

Jay Youngquist reported that there are 43 owners of the 52 Lakeshore Woods lots, 28 homes were now built or under construction, there were 8 full-time residences, 6 lots currently known to be for sale (2 with homes), and 4 lot sales in the past year.

Jerry Perkins expressed concern about boat mooring “whips” that had been recently installed on Slip 30 (assigned to Lot 32).  He was concerned that they had not been mounted securely enough (only through the Trex board) such that they were working loose and damaging the board.  He felt that they needed to be more securely fastened (across multiple boards).  It was decided to defer this discussion until the board meeting, which was to follow.


New Business

Jay Youngquist mentioned the “Parking Rule” that was being considered by the Board which would limit parking in the Common Area to Member-owned watercraft and watercraft trailers for a period of 30 days without prior ECC approval.  There was consensus that this would good for the Association.

Jay also requested that users of the picnic tables should try to remember to lower the umbrellas to prevent wind damage.

 

The next Annual Meeting will be held on Saturday, May 24, 2008 (Memorial Day weekend).

There being no further business, the meeting was adjourned at 11:37 A.M.



Respectfully submitted,


James A. Youngquist
Secretary-Treasurer
Lakeshore Woods Association, Inc.