Princeton Lakes Owners Association, Inc.
Budget Committee Meeting
August 9, 2001
In Attendance:
Robin Trickel, Erik Trickel, Michelle Blake, Cathy Akkerman,
and Doug Taft
I. Call to Order (Robin Trickel)
II. Review of Financial Information (Profit & Loss Jan 1 to Aug 7, 2001)
A. Since last meeting
1. 2 more closings
2. 2 tournaments
3. open house (not as much money made as projected,
actually lost money)
4. property mowed two times
a. billed each lot owner individually first time, not many paid
b. bills have just be sent out for second mowing
c. will not do mass mowing anymore, for lack of reimbursement
from lot owners
B. Expenses
1. Lake dye is very expensive
2. It is very expensive to turn on well
a. will consider "soft start" for water pump
1. Robin asked Doug to look into prices for "soft start" switch
3. General supplies purchased for tournaments (canopy, chairs, tables,
walk
talkies, etc...)
a. should be a one time expense to help tournaments run
4. Liability insurance
a. quote is $1000 more than last year
b. Tim Glider is looking into using a different company
c. Doug will also check quote from another company
5. Snacks for general meeting
a. got last time, will do again in October
6. Common areas
a. working on making look nicer
b. plan to plant new plants in the fall
c. someone has been hired to maintain common areas
III. Other Items of Discussion
A. 2002 Budget
1. Should % of dues go to new committees? (i.e. Social Committee)
2. Questions as to whether dues will have to be increased
a. will leave for future/further discussion
B. Offshore lots
1. Board passed $37.50 monthly dues for offshore lots
a. paying for water quality, common areas, landscaping, etc...
2. Consensus of Budget Committee that lots will remain unsold for awhile
3. Offshore lot owners can swim in lakes, canoe, etc. (do anything
without a
motor)
C. Ways to save or make money next year
1. "soft start" switch for well
2. bilge pump to water common areas
3. mixing lake dye ourselves
4. change liability insurance carrier
5. Social/Events committee will do monthly work parties to help maintain
property
6. purchase mailing lists to send out fliers on all tournaments
a. will have up front cost, but should increase revenues
D. Discussed annual meeting
1. encouraged everyone to attend or send in proxy
E. Port A Potty is still temporary, although will not consider removing
unless we
get complaints
F. Discussed new Social/Events Committee
G. Discussed whether or not to have meeting before annual meeting
1. Tentatively set meeting at Dickey's on 9/27/01 at 6:30pm
2. Robin will contact everyone if canceled
H. No questions or concerns
IV. Motion to end meeting (Robin) 2nd (Cathy)
Prepared by Cathy Akkerman