Christmas LakeVillage
Board of Directors
Monthly Meeting
7/9/20
Pending Approval at August 13, 2020 Meeting
The meeting was called to order by President Bill Conrad andnoted that a quorum was present.
Directors present were Bill Conrad, Rick Humerickhouse, MarkEvans, Larry Ball, Jason Terry, Don Vogel, Matthew Benningfield, JonathanKincaid & Larry Loucka.
There were (19) AssociationMembers in attendance.
Santa Claus Town Council – No representativein attendance. In the future, a CLV BoardMember will attend the Town monthly meeting and a member of the Santa ClausTown Council will attend the CLV monthly meeting.
MEMBER’S FORUM
Jim Kulbeth – 337 SBalthazar Drive – Addressed the issue of Advanced Disposal, trash pickup and terminatingthe contract. President Bill Conradexplained that CLV does have a termination clause in the contract. We have 60 days prior to the end of thecontract to terminate the contract.
READING OF MINUTES
Rick Humerickhouse made a motion to approve the May MonthlyMeeting Minutes.
The motion was seconded by Don Vogel.
Vote in Favor 7 to 0.
TREASURER’S REPORT– May 2020
Mark Evans reviewed the Treasurer’s report for the month endingMay 2020:
May 2020
Current YTD Income: $ 807,919
YTD Expenses: $ 276,222
Current Net Income: $ 531,697
Monies on Hand: $374,359.05
Dock Account: $ 17,795.17
Rec Ctr Account: $ 8,992.75
Storage Account: $ 13,452.83
Capital Improvement: $ 11,002.71
Investment Update:
April Reserves $496,594.01
May Reserves $512,081.47
The Reserve account saw a gain of$ 15,487.46 from April to May 2020.
Don Vogel made a motion to accept the May Treasurer’s Report.
Rick Humerickhouse seconded the motion.
Vote in Favor 8 to 0.
TREASURER’S REPORT– June 2020
Mark Evans reviewed the Treasurer’s report for the month endingJune 2020:
June 2020
Current YTD Income: $ 833,346
YTD Expenses: $ 345,033
Current Net Income: $ 488,313
Monies on Hand: $328,910.43
Dock Account: $ 19,045.92
Rec Ctr Account: $ 10,278.15
Storage Account: $ 13,553.38
Capital Improvement: $ 11,003.16
Investment Update:
May Reserves $512,081.47
June Reserves $517,024.43
The Reserve account saw a gain of$ 4,942.96 from May to June 2020.
Don Vogel made a motion to accept the June Treasurer’s Report.
Jonathan Kincaid seconded the motion.
Vote in Favor 8 to 0.
DELINQUENCY REPORT
Chris Ambs, Property Manager, reported on Assessmentscollected for May & June 2020.
PRIOR YEAR
Prior year assessments collected:
May & June - $ 4,816.21
Total Collected for 2020 - $ 11,267.00
Budgeted Assumption for 2020 - $ 9,060.00
MANAGER’S REPORT
- Real Estate Report – May & June: 9 existing homes & 24 vacant lots changed hands (CLV sold 3 of vacant lots)
- There are approximately 10 homes for sale in CLV
- There are 20 open construction permits
- Continuing efforts to remove old docks
- Lake treatment results
- Concrete parking pad poured at G Dock; Dock pad to be poured soon
- No fish stocking this year – fish survey scheduled for fall
- Exploring options for storage area expansion on old Hanning property
- Accepting 2021 Budget input
ACTION ITEMS
Yard Sale/Halloween Bash/Festival of Lights – The Board decided to goahead with the 2020 Yard sale as planned. If the State of Indiana changes guidelines, wewill address the Yard Sale again at the August Board Meeting. Halloween and the Festival of Lights will be decidedon at a future meeting.
OLD BUSINESS
N/A
NEW BUSINESS
- Review “Committee Posture” Rule – Effective date 10/9/2014 – Our Committees are not organized according to our By-Laws. They are named differently, and some are redundant. We have come to an agreement on the following Committees:
1. Rules & Regulations
2. General Advisory
3. Budget & Assessment
4. Executive
5. By-Laws Additions/Revisions
6. Nominating & Election Supervisory
7. Architectural Review Board
Don Vogel made amotion to follow the By-Laws and use these Committees as the standingCommittees
Mark Evans secondedthe motion
All in Favor 8 to 0.
- Board would like to have an Events Committee which can focus solely on Events for our community instead of using the Parks & Recreation Committee as an umbrella.
Don Vogel made amotion to create the Events Committee
Rick Humerickhouseseconded the motion
All in Favor 8 to 0.
- Ryan Oberhausen – Fifth Third Securities – Ryan gave all in attendance an update on our Reserves account. Ryan has been working with CLV since early 2014.
Don Vogel made a motion to follow the 55/45 model of the investmentportfolio
Larry Ball seconded the motion.
All in Favor 8 to 0.
- Ryan went on to discuss the fixed rate annuity that matures in March 25, 2021.
There is $13,725 cash available right now. If we do nothing, it will get rolled backinto the investment. It is availablewithout penalty. The Board discussedusing these funds to start clearing the Hanning Property for the additionalstorage area.
Larry Ball made a motion to use the funds available ($13,725), do notreinvest it, but we retain it for the development of the storage area
Jason Terry seconded the motion
All in Favor 8 to 0.
- Don Vogel addressed the Board about the upcoming County Tax Sale on October 7, 2020. We will be holding a meeting on August 6 at the Rec Center that is open to the public. We currently have a building boom in Christmas Lake Village. There is more construction going on in CLV than anywhere else in Spencer County. Joe Edwards, with SRI, will be here to talk to everyone about the tax sale process. He will answer questions on how CLV can get the lots away from the county tax sale and into a certificate or sheriff sale. We will also discuss the county property taxes and if they could be forgiven on the lot. If the lot would be sold, CLV and the county would then get the property into a profitable status for both CLV and Spencer County.
COMMITTEE REPORTS:
- Business Planning – Mark Evans – no report
- Rules & Regulations – Larry Ball/Rick Humerickhouse – no report
- Parks & Rec – Larry Loucka – no report
- Nominating/Election – Don Vogel – no report
- By-Laws & C & R’s – N/A - no report
Mark Evans made a motion to adjourn
Rick Humerickhouse seconded the motion
All in Favor 8 to 0.
Meeting adjourned at 7:01 PM
Respectfully submitted
Julie Benningfield
Assistant Property Manager
Christmas Lake Properties