The Association’s Annual Meeting was held on April 21, 2016, at Westside Community Church. Prior to the meeting, a reception was held where members enjoyed delicious desserts, mingled with our volunteers and new Executive Director Staci Likens. Dan Slattery, a resident of Pintail Landing, Dennis Dunning, a resident of Turtle Bay, and James Vogel, a resident of Westlake Hills, were elected to three-year terms on the Board of Directors. The results of the Cluster Committee elections were also posted.
George Gratz, President of the Association, presented his report. Part of the evening included recognition of Board Members and Association staff. New Executive Director Staci Likens was introduced and Beth Parkhurst was recognized as the first Executive Director dating back to 1991. Mrs. Parkhurst has been instrumental in providing her knowledge, guidance, and being an advocate of Tipton Lakes Community Association. Nancy Battin was recognized for her 20 years of service to the Association and given a Certificate of Appreciation. Also recognized were outgoing Board Members John Malina and Jan Brinkman; both have given nine years of service on the Board and both have served as past Presidents.
Mr. Gratz addressed the closure of Tipton Lakes Company. Tipton Lakes Company was the master developer of Tipton Lakes and closed on December 31, 2015. Since 1997 Don Michael has led the development of Tipton Lakes. Mr. Michael has maintained a vision for the community while also guiding the Association and its Members on compliance with the Governing Documents. Don Michael was a Board Member until December 31, 2015, and during the Annual Meeting was presented with a Certificate of Appreciation.
Mr. Gratz discussed the 2016 goals of the Association, which include transition of new Executive Director, updates to the rules and regulations (which will be mailed out to all members this summer), reserve study, restructure of the Design Review Committee, and restructure of the Covenants Compliance Committee. Mr. Gratz concluded by acknowledging our volunteers, stating the Community Association only succeeds when Members volunteer their time and talents. He requested those present to consider a volunteer role.
Dan Slattery, Treasurer and Finance Committee Chair of the Association, presented the Treasurer’s Report. He noted that applicable excerpts of the audited financial statements were mailed to all members and that complete copies are available at the Association Office. Mr. Slattery shared comparable information regarding revenue, expense, reserve fund and property/equipment over the last two years. Mr. Slattery stated that Association revenue is up due to the increase in the general assessment by $12 per household and due to an increase in the number of new construction homes that were added to the Association.
Mr. Slattery also discussed the generous gift of $50,000 and donation of land with a value of $85,000 with the closure of Tipton Lakes Company. The $50,000 is restricted money to be used to hire experts, if needed, to review new construction applications and to provide guidance on new land development. After seven years, any remaining amount will be moved to the lakes and dam reserve fund. In 2016, under the direction of Mr. Slattery, Finance Committee Members, and Association staff, a reserve study will be completed to properly determine and compile adequate reserves to fund necessary repair and replacements costs. In addition, he shared that currently only two of 1,241 households are delinquent in their assessments. Mr. Slattery thanked his Finance Committee members for their assistance.