Finance Committee Minutes: October 18, 2016

Hidden Valley Lake Finance Committee
Meeting Minutes
October 18, 2016

Members Present: John Reiniger, Mary Anna Taylor, Kyle Packer, Jenifer Reuter, and Linda Hartmann

Members Absent: Bonnie Starks

Board Liaison: absent

Guests: Bruce Keller, Pat Hawkins, Donna Yeltzer

Approval of the September Finance Committee Minutes 

  • Motion by: Jennifer Reuter
  • Second by: Kyle Packer
  • Voting record: All in favor

Review and Approval of the September 2016 Financial Reports

  • Motion by: Kyle Packer
  • Second by: Linda Hartmann
  • Voting record: All in favor

Report from Bruce Keller -nothing to report

Report from Bob Starks – absent

Old Business:

After discussion on future year budget projections, the committee unanimously voted to recommend an increase in the assessment fee of $6/month ($72/year) to take effect on July 1, 2017. This is the first assessment increase in 14 years. The increase provides sufficient funds to cover projected expenditures through 2020. The 2% contractual increase to Rumpke will not be passed on to residents.

The finance committee also unanimously recommended approval of an increase in the administrative fee for lot transfers beginning January 1, 2017 as follows:

  • Transfers between family members – $100
  • Other lot transfers – $200
  • Home transfers – $400

Jennifer Reuter indicated that she and Moe Manion had made corrections to the 2016 end of year escrow balances and EOY required funds projection. The revision indicates an EOY 2016 positive cash balance of $35,641.

Jennifer Reuter made a motion to approve the 2017 Financial Budget. Motion was seconded by Mary Anna Taylor. Passed unanimously subject to Board approval of the recommended revisions to assessments and administrative fees.

New Business:

Jennifer Reuter reviewed the Financial Statements for the golf course. John Reiniger suggested that Jen prepare a project request form to document the costs/cash flow projections for the purchase of new golf carts.

Motion to Adjourn

  • Motion by: Jennifer Reuter
  • Second by: Mary Anna Taylor
  • Voting record: All in Favor

Meeting adjourned at 7:32 p.m.

NEXT MEETING TO BE HELD ON TUESDAY, December 20, 2016 at 6:00

Now is the best time to sign up for Automatic Monthly Dues Payments

  • Pay your January 2024 dues in full by 1/31/2024.
  • Fill out the form to begin monthly payments toward your July 2024 dues on the 15th of each month beginning February 15th.

Sign up forms need to be received by February 7th, 2024.

Email to, send by mail, place in the secure drop box, or bring into the POA office.

Example of a monthly payment:  If your semi-annual dues are $563.50 your monthly automatic payments will be $ 93.92 each month.