November HOA Newsletter

2023 Friendsgiving

Mark your calendars and join your neighbors at our first annual Grand Lake Friendsgiving. The social committee will be providing a variety of main dish meats and neighbors will bring the sides, desserts, and drinks! Click on the SignUpGenius link for more information, to RSVP, and to sign up to bring an item. We can’t wait to see you!

2024 Proposed Budget and Dues Increase

You can view the 2024 Budget Details and Approve here: 2024 Proposed Budget.

In accordance with the covenant, we have created a budget that covers the operation cost of the HOA for 2024. The budget details how the dues will be spent and sets the annual dues for 2024 at $700. We realize this is a significant increase however this is what is required to keep the association solvent. 

We will be using the Monthly Board meeting on Monday, November 20th as a question-and-answer session for the proposed budget. Please consider attending if you have questions before voting to approve the budget.  The final vote for the proposed budget will be held on Monday, December 11th at the clubhouse at 6:30 pm. 

Grand Lake HOA
Proposed Budget
BudgetBudgetYTD Actual
Association dues - $500/yr84,500.0084,500.0083,885.46
Dues Increase - $200/yr33,800.000.000.00Expenditure per Household(169) - $700
Clubhouse Rental1,900.001,900.001,600.00
Late fee1,500.001,500.001,705.00
Violation fine0.000.001,300.00
Key fee0.000.00225.00
NSF fee0.000.000.00
Legal fee0.000.000.00
Interest Income0.000.00421.44
Other Income0.000.0016.00
Closing fee0.000.000.00
Total Income $ 121,700.00 $ 87,900.00 $ 89,152.90
Loan Debt Service - $809.91/m x 12 $ 9,707.00 $ 9,707.00 $ 7,280.19
Property Management
Property Management Fee12,168.0012,168.0010,140.00Last year of contract 2024
$ 14,440.00 $ 14,440.00 $ 11,564.00
Landscaping Contract18,940.0017,940.0014,710.00Increase by $1k per year
Aqua Systems - Lake Algae Treatment0.000.000.00
Landscaping - Other0.000.0093.24
Irrigation System Repair1,000.00550.00273.49
Hardscape Repair & Improvements750.000.000.00
$ 20,690.00 $ 18,490.00 $ 15,376.73
Cleaning Services2,250.001,600.001,760.00
Consumable Supplies250.00250.00149.37
Pest Control & Termite Service500.00750.00250.00
Security Camera Replacement0.00800.00826.07
Emergency Exit Install - Pool0.000.00337.50
HVAC Service and Repair500.00500.000.00
Clubhouse General Maintenance & Repair800.00300.001,763.89
Clubhouse Paint0.00800.000.00
Insurance5,000.004,600.004,068.48End of yr expense projection at $4,867.20
Real Estate Taxes2,925.002,650.002,784.00Approx 5% Increase
$ 16,350.00 $ 18,550.00 $ 15,269.64
Pool Maintenance Contract5,200.004,900.004,705.00About a 6% Increase
Pool Chemicals4,500.003,900.004,231.00About a 6% Increase
Pool Repairs650.00500.00477.63
Pool Supplies150.00150.0018.35
$ 10,500.00 $ 9,450.00 $ 9,431.98
Community Events
Craft and Party Supplies250.00250.000.00
Association Events500.00500.00168.15
$ 750.00 $ 750.00 $ 168.15
Loan Payment23,385.2423,385.2419,487.70Loan Balloon Maturity 05/20/2025
Bank Charges0.000.00272.00
Other Admin0.000.0075.47
Internet/Email Services1,800.001,497.001,471.85
$ 26,685.24 $ 25,382.24 $ 21,507.02
Capital Improvements
Computer Equipment Purchase0.000.000.00
Seawall Repair0.000.0012,012.09
Loan Proceeds Used for Seawall Repair0.000.00(12,012.09)
Clubhouse Furnishings0.000.000.00
Pool Furnishings850.00837.000.00
$ 850.00 $ 837.00 $ -
Additional Principal Payments on Debt $ 15,000.00
Transfer to Reserves $ 3,277.76
Total Expenses $ 118,250.00 $ 97,606.24 $ 80,597.71
Net Cash Flow0 $ (9,706.24) $ 8,555.19

Arc Compliance

As a reminder to the community, it is essential to submit a proper ARC Request for any Improvements or changes to your property. Adding a Fence to your property also requires an ARC request. Additionally, the community guidelines detail the allowed stain colors for fences. Residents can find the Fencing Guidelines listed on our Residents page. Residents can submit an ARC request through the AppFolio Portal provided by Elite Housing Management. Residents should also remember to read the Grand Lake covenants concerning street parking.

HOA Board Meeting

Our Neighborhood HOA board meets monthly on the 3rd Monday of the month at 6:30 pm. These meetings are open to all homeowners who wish to attend.

To help make sure that all discussion topics are covered, the board asks if you are attending for a specific issue for discussion that you email with a brief description/explanation at least 24 hours before the board meeting so the agenda can be updated and the board can provide time for you to speak about any concerns or issues you are having.

2023 Board Members:

Teddy Schell (President)
Tim Horning (Vice President)
Ela Perry (Treasurer)
John Maginot (Secretary)
Sam Hilson (Communication)