Lake Linganore Association, Inc.

1
Lake Linganore Association, Inc.

• Annual Report
• May 2007

2
LAKE LINGANORE BOD2006-2007

• Brandon Frazier
• Jim Cates
• Bob Charles
• Jay Decker
• Stephen Hembree
• Jim DiMeglio

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Lake Linganore Association 2007 Annual Meeting

• Treasurers Report
• Presented By
• Brandon Frazier
• May 19, 2007

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The Finance Committee

• Susan Young, CPA Chairperson, LLA resident
• Cecily Ashbaugh, LLA resident
• Bob Charles, LLA Board Treasurer
• Clay Edwards LLA General Mgr.
• Gary Jenkins LLA Finance Administrator

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Finance Committee Activities

• Review monthly financials
• Present financials to BOD and make
  recommendations
• Review annual budget

• Review annual audit
• Financial Policy Recommendations
• Assist Staff with accounting issues
• Special Projects

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LLA Finance Goals

• Ensure reserve funding
• Support the Board in developing a five-year plan
• Establish benchmarks for LLA on borrowing power
  and long term financial viability
• Reduce delinquent assessments
• Oversee fiscal budget process

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Financial Five-Year Planning

• Current Considerations
• Funding of Lake Anita Louise and Farm Pond
  repairs
• Funding of Aspen North CDA startup costs
• Villages of Lake Linganore CDA gap
• Future Considerations
• Financial studies and impacts of Municipal
  Incorporation
• Roads (CDA non-CDA)
• Lake desiltation and lake management
• Amenities (trails, playgrounds, fields)
• Delicate balance of revenues and expenses
• Identify the right solutions for funding

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FY07 Income
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FY07 Income

• Late/Bank Fees
• Resale Pkgs/Property Xfer
• LakeTalk Advertisements
• Boat Fees
• Recaptured Legal Fees
• ECC Apps/Fees Permits
• Cable Franchise
• SHUR Funding

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FY07 Expenses
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FY07 Expenses
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FY07 Reserve Expenses
13
FY07 Reserve Expenses
14
FY07 Reserve Balances
15
FY08 Reserve Balances
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FY08 Budget Summary
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FY08 Budgeted Reserve Expenses
BoD approved an additional 130,000 May 1, 2006
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Planned Projects

• Landscaping
• Trail Rehabilitation
• Roads
• Resurfacing, Patching
• CDA non-CDA roads

• Esplanade repairs
• Aspen North CDA
• Reserve Study Updates
• Municipality Study

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Looking Forward

• Continue honing financial project control
• Long Term Funding Challenges
• VoLL CDA
• Dams, Roads, Buildings, Pools

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Further Questions...

• Please contact Joy Gurley at the LLA office and
  she will forward any additional questions to the
  finance committee.

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ACCOMPLISHMENTS

• Put together the best and most professional
  Staff ever in the history of Eaglehead at Lake
  Linganore
• Continued a good working relationship with the
  Major Developer.
• Incorporated a Conflict of Interest ruling,

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CONFLICT OF INTEREST

• Be It Resolved That
• "Any candidate for Lake Linganore Association
  (LLA) board of directors who has any business
  dealings with the LLA or the Eaglehead declarant
  or the Lake Linganore property developer must
  reveal to the LLA board of directors in writing-
  to be made public knowledge- the full nature of
  such dealings prior to election or appointment.

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CONFLICT OF INTEREST

• Any sitting member of the board of directors who
  intends any business dealings as defined above
  after becoming such member, must make the same
  disclosure prior to commencing such business
  dealings.

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CONFLICT OF INTEREST

• Further, prior to such member initiating such
  business dealings, the board members who are not
  participants in the disclosure dealings must
  discuss and, by majority vote, decide in public
  forum whether the subject dealings are or are not
  a "profit of private interests" envisioned by
  Article 14 of the LLA Articles of Incorporation
  and, if decided to be such, subsequently consider
  the Board of Director removal action authorized
  by LLA Bylaws, Article III, Section 3 (d)."

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NEEDS FOR THE FUTURE

• Out of 2400 plus homes, 4 members stepped up to
  run for the board. We need more active members.
• We need to organize a PAC (Political Action
  Committee). Eaglehead has a huge number of votes.
  We can become a force in the county.

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My Thoughts for the New Board

• Let the LLA management run the business.
• Stay out of the office as much as possible.
• If there are issues go, thru the president of the
  board.

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Association Office Operational Overview

• Organization Chart
• Brief Position Description
• General Operations Tasks
• Prioritized Projects
• Ongoing Projects

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Organization ChartMay 2007
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Brief Position Descriptions

• General Manager Day to Day Operations
  Management, Project Management, Budget
  Administration
• Assistant General Manager / Compliance
  Administrator Day to Day Operations
  Supervision, ECC, Compliance, Project
  Administration
• Financial Administrator Financial Operations,
  Collections, Assessments
• Office Manager Administrative and HR Management
• Community Resources Manager Communications,
  Committee and Event Management
• Community Support Specialist Facilities
  Administration, Events Support
• Compliance Specialist Compliance Administration
  ECC Support
• Maintenance Staff Facilities Operations and
  Support

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General Operations Tasks
The list below encompasses the majority of daily
tasks within the community.

• Assessments / Dues Collections
• New Member Administration
• Safety / Security
• Community Trash Removal
• Interface With Community
• Landscaping
• Playground Maintenance
• Beach Maintenance
• Trail Management
• Lakes Management
• Road Maintenance and Repair
• Compliance Administration
• ECC Administration
• Dam Oversight

• Boat / Boat Rack Administration
• Community Lighting
• Contract / Vendor Administration
• Communications Web Site / Lake Talk
• Snow Removal
• Equipment Maintenance / Repair
• Pool Management
• Tennis Court Maintenance
• Event Coordination
• Office Administration
• Trash / Dog Pot Collection

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Prioritized Projects
The following projects have been identified by
staff and the Board of Directors as priorities
over the next 1-3 years.

• Lake Anita Louise / Farm Pond Repairs Mandated by
  the State
• Esplanade Repairs
• CDA Impact Management
• Reserve Study Update

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Ongoing Projects
The following projects involve a longer
commitment from staff

• Linganore CDA
• Budget Planning (5 yr.)
• Aspen North CDA
• New Village Development (Aspen)
• New Individual Lot Building
• Process Re-engineering / Improvement
• Lake Dredging

• SHUR Roads Long Term Maintenance
• Trail Maintenance and rehabilitation
• Carp removal (friends of the lake committee)
• Continual Improvement of the Relationship Between
  LLA staff and County staff

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Lake Linganore Association, Inc.

• Annual Report
• May 2007