May 12th Annual Meeting minutes 05-03-2015

Lakeview Terrace Association, Inc

Annual Meeting

May 3, 2015

 

Meeting was called to order by President Mike Martin at the Coventry Town Hall at 2:00 pm Board members present were Mike Martin, Bob Allison, Geoff Willis, Marcia Roy, Christina Pierce and Scott Tweed.

Roll call of Board Members took place.

Treasurer’s Report: Checking Account Balance $16,714.47, Savings Account Balance $292.52, CD Account $15,469.28 Total $32,478.16.

Secretary’s Report: Minutes of the May 4, 2014 Annual Meeting and the September 23, 2014 Board Meeting were handed out, Read and accepted.

Tax Collector’s Report: Total Collected 2014-2015 @ 1 Mil $14,767.85

Current year 2014-2015

Tax                                                      $11,545.41

Interest                                               $147.09

Delinquent years

Tax                                                      $1,864.06

Interest                                               $812.22

Lien Fees                                            $360.00

2015 Credit                                                    $39.07

 

133 Paid Acts               84%

25   Unpaid Acts         16%

 

2015/2016

½ Mil               $6,170.65

1 Mil                  $12,341.30

1 ½ Mil             $18,511.95

 

2015-2016 Proposed Budget:

 

Taxes & Insurance                                                                            Proposed

Property Taxes Town of Coventry                                                 $200.00

Liability Insurance & Bonding                                                       $5,200.00

Tax Collector                                                                                      $1,500.00

Subtotal……………………………………………………………..$6,900.00

 

Association Operations

Lien Fees                                                                                                $150.00

Printing, Copies & Postage                                                                 $400.00

Postal Fees (P O Box)                                                                          $50.00

Misc. Operating Exp.                                                                           $120.00

Subtotal……………………………………………………………….$720.00

 

Association Beach

Beach Improvements                                                                         $2,450.00

Safety & Security                                                                                 $300.00

Mowing (Beach & Ball Field)                                                            $1,200.00

Sani Can                                                                                                $530.00

Subtotal………………………………………………………………$4,480.00

 

Other Expenses

Roads                                                                                                   $500.00

Subtotal……………………………………………………………..$500.00

 

Total Proposed Budget                                                                  $12,600.00

 

Discussion took place regarding the Budget. Proposed Mil Rate will be set at 1 Mil, shortfall to come from reserve. Budget accepted.

 

Old Business:

• Handrail at the end of Lakeview Dr. Options will be discussed at June meeting.
• Dock, Sean Butler to contact ski club to install dock.

 

New Business:

• State Marshall to collect back taxes- Board will review at June meeting on case by case basis of 5+ years delinquent taxes.
• Picnic tables 2 will be purchased for a total of less than $320
• New Bulletin Board will be purchased for $380
• Beach cleanup 5/7 at 6:30pm and 5/16 9:00am
• Porta potty Marcia will order on May 15^th, Mike martin will clean and mark area where it is to be installed
• Beach sand, Mike Martin will get a price for sand
• Swimming area: 2 buoys, 18 stickers, floats, locks and rope needed for a total of $2900 $1500 from reserve will be moved into 2014-2015 beach budget to accommodate shortfall.
• Signs committee will meet on 5/7 at 6:30 after we unlock picnic tables.
• Pavilion vs. Landscaping, will discuss at June meeting

 

 

Election of Officers: 2 alternate positions are opened. Sean Butler to move from alternate board member, to board member.

 

Meeting was adjourned at 3:45 pm

 

 

 

 

Board Meeting followed immediately,

 

President:                    Mike Martin

Vice President             Bob Allison

Secretary                     Geoff Willis

Treasurer                     Marcia Roy

Tax Collector              Christina Pierce (Resigning)

Board Members          Scott Tweed & Sean Butler

Alternate Board Members-Open

 

Christina will be resigning from Tax Collector Position, Replacement needed.

2 Alternate board member positions are open.

Bob will compose a letter to be included in the tax mailing, requesting people to volunteer. Survey & comments needed for Tax mailing and website.

 

Next Board Meeting Thursday June 4, 2015 6:30 pm. At the Ball Field.

 

Meeting adjourned 4:15pm

 

 

 

 

 

      

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