This is the first e-Newsletter for 2010. It is also the procrastinator's edition since it is a month late!
HOA Annual Dues – How do we Compare
Every time the e-Newsletter Editor pays the annual HOA dues, he wonders how we compare with other gated communities on Lake Norman. So, being the inquisitive reporter we are, we checked it out. Examples of other gated communities on Lake Norman include Pebble Bay, Webb’s Chapel, Norman Point, and Alexander Island and their Annual Dues range from $1,000 to $1,750. As another point of reference, Wildlife Bay’s Annual Dues are $495 and that community is not gated and does not have a boat ramp
Annual HOA Holiday Bash Recap
There were more than 31 party goers at last year’s December Holiday bash. The merrymaking started at 7PM and ended sometime after midnight. Anyways, thanks to Harold and Loretta Michaels once again for taking a chance with their lovely home and hosting the annual bash
Budget VS Actuals Year End 2009
The 2009 financial results or Budget versus Actuals for 2009 has been posted on the web site. First, actual revenues exceeded budgeted by about $6,500. Next, actual expenses were less than budgeted expenses by slightly more than $9,000. Lastly, Projects budget was under spent by slightly more than $17,000. Board voted to apply some of the excess funds to the 2010 Project Reserves Budget increasing that budget to $36,000 and apply the remaining excess to Reserves, which increases the HOA committed reserves to nearly $148,000. Not bad financial news for the HOA, especially in these difficult financial times
Four Potential Significant Projects Survey Results
The HOA requested Lot Owners to provide feedback via survey on the web site for four significant projects being considered by the BOD. The projects being considered were Rip Rap Large Island (M6), Replace 2 HP Inland Lake Fountains Upon Failure with Lake Bottom Aeration (M22), Marina Pavilion Project (M24) and Marina Fire Pit Project (M30).
First, the BOD would like to thank the 16 lot owners that completed the survey for not only completing the survey but also taking the time to provide comments.
The BOD was very disappointed that less than 10% of the lot owners and only 12 of the resident lot owners completed the survey.
Given the way the questions were asked in the survey, the BOD concludes that there is no sizeable opposition to the Replace 2 HP Inland Lake fountains Upon Failure with Lake Bottom Aeration, Marina Pavilion or the Marina Fire Pit Projects. Additionally, there is no significant support for the Rip Rap Large Island Project
The BOD decided to carry forward the unspent Project Reserves budget from 2009 and add an additional $5,000 from the surplus from 2009 ( surplus is the amount of actual revenues greater than budget added to the amount the expense budget was under spent) making the project Reserves Budget for this year $36,000.
The BOD decided that only one of the significant projects discussed in the preceding article had a possibility of action this year given the 2010 budget. That project is Replace 2 HP Inland Lake Fountains Upon Failure Lake Bottom Aeration (Project M22).
The BOD has a carry-over project from 2010, Repair Damaged Asphalt areas on South Harbor Watch Drive and High Lake Drive (Project M21). We are waiting until construction activity completes on lot 20 before that project is completed.
The BOD has approved a project to Define Strategy to Repair/Resurface Community Streets (M24). This is a zero cost project that is intended to define private street areas where base repairs may be required in advance of asphalt resurfacing and prioritize those areas. The scope and estimated cost to repair each road base area will be defined. The project will also develop the strategy to resurface the streets and timing options for that effort. This project could result in project work that might be approved for completion in 2010.
Of course, the BOD always welcomes input with regard to projects, e.g., new projects, priority of pending projects, etc.
Overheard at the Marina
Overheard at the Marina is intended to be “tongue in cheek” material that adds some not too serious stuff to the e-newsletter. And then, sometimes it is serious like this little story:
A professor stood before his philosophy class and had some items in front of him. When the class began, he wordlessly picked up a very large and empty mayonnaise jar and proceeded to fill it with golf balls.
He then asked the students if the jar was full. They agreed that it was.
The professor then picked up a box of pebbles and poured them into the jar. He shook the jar lightly. The pebbles rolled into the open areas between the golf balls.
He then asked the students again if the jar was full. They agreed it was.
The professor next picked up a box of sand and poured it into the jar. Of course, the sand filled up everything else.
He asked once more if the jar was full. The students responded with a unanimous 'yes.'
The professor then produced two Beers from under the table and poured the entire contents into the jar effectively filling the empty space between the sand.
The students laughed.
'Now,' said the professor as the laughter subsided, 'I want you to recognize that this jar represents your life.
The golf balls are the important things---your family, your children, your health, your friends and your favorite passions---and if everything else was lost and only they remained, your life would still be full.
The pebbles are the other things that matter like your job, your house and your car.
The sand is everything else---the small stuff.
'If you put the sand into the jar first,' he continued, 'there is no room for the pebbles or the golf balls.
The same goes for life.
If you spend all your time and energy on the small stuff you will never have room for the things that are important to you.
Pay attention to the things that are critical to your happiness. Spend time with your children. Spend time with your parents. Visit with grandparents. Take time to get medical checkups. Take your spouse out to dinner. Play another 18.
There will always be time to clean the house and fix the disposal. Take care of the golf balls first---the things that really matter. Set your priorities.
The rest is just sand.
One of the students raised her hand and inquired what the Beer represented.
The professor smiled and said, 'I'm glad you asked. 'The Beer just shows you that no matter how full your life may seem, there's always room for a couple of Beers with a friend.
Neighborhood Home Construction and Real Estate Update
Currently there are two (2) home sites with construction work in progress in varying stages. ARC approved the only home construction package received during 2009 and has already approved a home construction package in 2010.
Currently (as of February 21, 2010) there are 5 homes and 19 lots on the market within Harbor Watch.
Remember, before construction begins an owner must comply with the requirements of the Architectural Review Committee. Home Construction Guidelines, Home Construction Guidelines Checklist and the new Plan Approval for Property Upgrades, Additions, and/or Improvements are available on the web site.
Are you really out there???? Have you read the newsletters? Can you read? Tell us what you like or dislike. Anything else you would like to see included? We promise we will read and perhaps even re-read all e-mails to the editor no matter the quantity or how voluminous they may be! We might even respond. We might even publish some. We are patiently waiting in anticipation of any and all letters to the editor!