News Flash

Board News

Posted on: February 19, 2021

02.19.2021 | Flags & Budget

Board News Media Assets_12.04.2020

The Board held two Special Meetings this week related to issues of importance to the community. In both cases, these meetings were scheduled to allow the Board and the community to consider two separate proposals, discuss the contents and act as appropriate.

Special Board Meeting - February 17, 2021

On Wednesday, February 17, the meeting was related to a handful of proposed clarifications to General Rules 4.5 and 4.6 related to signs in the community set back. President Poland proposed rule changes that would include adding flags, posters, and banners in the rules related to signs.  Also included was a proposed definition of "political signs", the inclusion of watercraft in the list of vehicles not permitted to carry signs, and clarification of the "dirty words" that are not permitted to be displayed. The Board received over 100 emails related to these proposals and heard more than two hours of testimony at the meeting. Based on this feedback, they conducted their discussion of how to proceed. The Board decided to postpone consideration of the proposal until the next regularly scheduled meeting. There will be a new proposal presented on March 9 based on the information received.

For those who were unable to attend this meeting, it is available to watch online. Click Here to Watch February 17, 2021 Board Meeting. 

Board Budget Workshop - February 18, 2021

On Thursday, February 18, the meeting was related to the proposed draft of the 2021/22 Canyon Lake POA Budget that will be on the agenda for Board approval at the Regular Session Board Meeting on March 9. With the Finance Committee's concurrence, Canyon Lake POA staff provided the Board with a proposed budget for the 2021/22 fiscal year. The proposed budget was developed in keeping with the budget model approved by the Board last fall, and the Finance Committee carefully reviewed it in January and February. The proposed budget includes the Canyon Lake POA operating budget and recommendations for annual contributions to its three reserve funds.  The Canyon Lake POA's three reserve funds are related to Repairs & Replacement, Road Repairs, and Capital Improvements. The Davis Sterling Common Interest Act requires the Canyon Lake POA to have both the Repairs & Replacement and Road Reserves funds. The Canyon Lake POA established the Capital Improvements Fund to allow for continuous improvement of its property, facilities, and amenities.   

The proposed operating budget is based on continuing to provide the same services we have this past year. Plus, the operating budget has to accommodate the new minimum wage law, a significant increase in insurance, legal, and utility costs. After careful scrutiny and with appropriate increases in fees and projected income included, the proposed budget includes a reduction in the per-unit assessment for over 50% of the budget centers through an overall increase of 5.2%.  

Recommendations to contribute to the funds is a rather subjective decision made each year by the Board based on future needs. This year, for the first time, the Board commissioned a subcommittee of the Facilities Planning Committee and Finance Committee to review and prepare a summary of the current and projected needs for the three reserve funds. Their summary catalogs the cash flow needs for projects under construction, approved for construction, in a design phase, approved for future consideration, and committee recommended. The study provides a five-year projection of the cash needed from each fund. The recommended contributions are similar to last year, except for the Road Reserve Fund. A survey of our 37 miles of roads' current condition yielded an estimated nearly $20,000,0000 of work needed over the next seven years. This comes as no surprise given the generally poor condition of our roads today. While there is about $10,000,000 available now, as much as $2,000,000 per year for the next five years is needed.

The Board also discussed the operating budget and fund demands and recognized that they translate into an assessment increase on the order of $30 per month per member. This increase is significant and needed to maintain our property, pay for the ongoing improvements to our amenities, including the new Sierra Park North Pump Track and the outdoor event space and dining facility at the Canyon Lake Lodge. After considerable discussion, the Board agreed to reduce the contributions to the Reserve Funds next year in light of the impact COVID-19 has had on our community to $13 per month per member. Since the funds are needed, the difference will need to be made up in the coming years. This decision will be given due consideration over the coming month, and a final decision and approval will be made on March 9.

For those who were unable to attend this meeting, it is available to watch online. Click Here to Watch February 18, 2021 Board Meeting. 

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