28 November 2012
The Lake Monticello Owners’ Association (LMOA) has announced that the proposed budget for fiscal year 2013 will be adopted on Dec. 6.
The total expected revenue for 2013 is $5.7 million from dues, fees and amenity use fees. Expected non-capital expenditures are anticipated at $5.5 million. More than $1 million is budgeted for three key funds (roads, lake and general) that will be used for capital improvements to property and buildings, according to a press release from the LMOA.The proposed budget includes a total of proposed annual dues and improved property fee for 2013 of $813.44, a net increase of $4.03 over 2012. The increase is due to an increase in dues of 3%, from $634.41 to $653.44, and a decrease in the improved property fee of $15, from $175 to $160, according to the release.
The budget addresses operating expenses, including administration, maintenance, security and amenities, which are the largest expense items, and funds for community improvements, such as an architectural review of the Clubhouse and Golf Pro Shop; an expanded lake health program with a watershed management plan, dredging and fish stocking and completion of the work on the Tufton and Main Dams.
Billy Casper Golf, Inc. will continue to maintain the Lake Monticello Golf Course through 2014. New accounting and barcode systems will be implemented on Jan. 1, 2013.
The budget adoption meeting, the last of the budget cycle, will be a special open session board meeting on Thursday, Dec. 6, at 7 p.m.in the Terrace Room, with time allocated for members to speak.
The budget development process began in late August with meetings between LMOA management and staff, continued with four work sessions of management and the Finance Committee, and wrapped up with a Board of Directors work session on Nov. 8 and public hearing on Nov.14.
The proposed budget is available for review at the LMOA Administration Office and Crofton Room at the Golf Pro Shop and has been posted on the website at www.LMOAVoice.org, under the “Library” tab, Financial Information, Budget. The final budget will be posted after December 6, and an overview will be published. LMOA Financial Director David Moore and Finance Committee Chair Jim Mixter will present an overview of the proposed 2013 budget on LMOA Cable TV Channel 977 “This Week at the Lake” beginning at 7 p.m. on Thursday, Nov. 29, and running daily at 9 a.m. and 7 p.m. through Thursday, Dec. 6, at 9 a.m.