editor1 on March 2, 2015

The first budget hearing was held tonight (Monday) at the Lakeview Lodge.

There was standing room only!

Property owners are to be commended for coming out and telling the board of directors that the $100 assessment increase in addition to the $240 special assessment is unacceptable. The total assessment would be $1,200.

Watch Treasurelaketalk.com for more details on the hearing.

editor1 on March 2, 2015

Tonight at 6 p.m. at the LVL is the first of two hearings for the proposed budget which will raise the property owner regular assessment from $860 to $960, a $100 increase. On top of this there is a special assessment that adds $240. This makes the total property owner bill per lot $1,200.

Five members of the board of directors have already signaled their support for this increase.

At a Feb. 7 executive session the five voted to present this budget to property owners.

If any one of the five had a problem or disagreed with the budget they could have and should have voted against going forward.

Said another way, if they had a problem with this budget they could have stopped it before it got this far…but they didn’t.

So lets name names. The directors that voted in favor of this budget with its assessments are: Art Ardire, Chris Corcoran, Dan Flanders, Carol Korthaus and Alan Moore.

The other directors (David Distler, Chuck Huddy, Joe Krill and Larry Salone) were not present and obviously did not vote.

Huddy has since resigned from the board but we do not know where Krill, Distler and Salone stand on the matter.

It’s important that you attend the budget hearings and make your opposition known.

TLTAdmin on March 1, 2015

We have had one of our readers point out what we feel is very important information related to to the Capital Reserve Study. There are two primary items found on page 9, within section 1.3 Limitations.

We are relaying this information as it is critical for property owners to understand that even the organization that completed the capital reserve study recognizes that the information could be incomplete, or that information relayed to them might contain erroneous information. Items in BOLD were taken directly from the capital reserve study.

“Yingst Engineers assumes no liability for the accuracy of the information provided by Association representatives or others familiar with the community that was used in the preparation of this study.”

Right here, Yingst Engineers & Associates recognizes that the information provided/contained within has limitations. So if this is true, is it not also possible that the numbers identified within this report are much lower than what they project will be required?

“It is always prudent to obtain multiple cost estimates from qualified contractors prior to performing any capital improvement project within the community. It is important to understand that due to numerous variables, the actual cost for replacement or major repair of common area elements cannot be known and significant pricing variances between contractors should be assumed.”

Again, Yingst Engineers recognizes the limitation of their report. Even if Yingst Engineers performed everything to the best of their abilities, and we have no reason to doubt that they didn’t, there is a still a margin of error inherent in this process.

What that margin of error is, is clearly up for debate, but if Yingst was provided incomplete or inaccurate information; then Houston, we have a problem. Unfortunately, our board of directors doesn’t seem to care.

But we, as property owners, should challenge the boards intentions to proceed with this capital reserve report. Especially when the organization that performed the study and created the report recognized the shortcomings inherent in the process.

editor1 on March 1, 2015

The board is proposing a regular assessment increase and a special assessment that brings the assessment total to $1,200 for the coming fiscal year.

We believe that this proposal is exorbitant and is not in the best interests of the community in general.

We are urging that all of our readers attend the budget hearing scheduled Monday at 6 p.m. at the Lakeview Lodge and we encourage you to pass this information on to friends and neighbors.

Remember the borough initiative that divided our community and wasted approximately $750,000 of our hard earned money?  The board is setting the stage for this again by asking property owners to cough up more of our hard earned money to pay for questionable initiatives all in one year such as a golf course watering system at the Silver Golf Course and paving both golf course parking lots along with other assorted foolishness.

If the board were really serious and were concerned about the best interest of the property owners there would not be a special assessment at all, not to mention the loan that they are also proposing to take out driving us into debt.

It is our money and it is time we tell them what we think of this nonsense.

Let’s not forget that the Lakeview Lodge costs over $1,000 every day with no end insight. At the close of last fiscal year it was operating in the red by over $430,000. That is a lot of money to throw away every year, year after year.

While property owners are trying to keep up with the increasing costs of utilities, taxes and other expenses we have a board of directors that are divorced from reality while living the high life on the property owner’s dime enjoying fun and frolic at the Lakeview Lodge while the property owners who are paying the bills for the LVL are sitting at home with thermostats turned down trying to save a few dollars. What is wrong with this picture!

Also, consider that there are more than 100 homes for sale in our community. We believe that if the proposed increase in assessment is approved everyone who has a home or property in Treasure Lake may find it nearly impossible to sell their property because of potential buyers that are turned away as a result.

editor1 on February 28, 2015

We were shocked and disappointed with the proposed budget posted on the TLPOA website resulting in a $100 increase in the assessment and a $240 special assessment totaling $1,200.

In the past we have expressed our disappointment with the board of directors and how they operate, however, now it appears that they have stooped to a new low.

How the board of directors can continually throw property owner money away on the Lakeview Lodge and the golf courses and now ask for $1,200 per lot is unreal.

They might as well have a mask and a gun because they are robbing us.

TLTAdmin on February 27, 2015

We reached out to former Director Wayne Marhelski to get his take on the proposed budget, assessment increase and special assessment. He’s been there during the budget meetings and we know he’s one of the few that’s actually spent time diving into the financials. Here is his response:

The proposed assessment of $960 rings a bell as it came up during the last year budget discussion. Of course, we had the capital reserve study at that time. The funding option that includes the yearly step increase looks familiar as those numbers looked similar to what I had calculated out, with the final increase being around the $960 mark.

The key piece here, and one that property owners should ask is, “Does Treasure Lake really need to maintain all those items?” Of course, there are some on the board that will be adamant that it is absolutely necessary. But the real problem is that at some point, the board WILL run out of other people’s (property owners) money. So ask yourself this, “Is the board really oblivious to this fact, or are they intentionally looking to put Treasure Lake in a precarious financial position?” When a board officer makes a comment along the lines of what would happen if Treasure Lake filed for bankruptcy, would Sandy Township have to step in; it needs to make people wonder.

The assessment increasing to $960 is only valid IF the capital reserve study is considered gospel. Personally, I don’t believe it is and it merely a suggestion, but not an absolute. The reason is the lifespan of items contained within it are based on some average number of years of use. They could be higher, they could be lower, but in reality it is still just an estimate.

There really is no reason for the special assessment at all. If one considers the amount of money that has slipped through the POA’s hand because of the mounting losses at the Lakeview Lodge, the golf courses, and in other areas; there is easily over $2 million dollars that could have paid down debt or fixed infrastructure. But again, you have people sitting on the board that are either incapable (i.e., they don’t understand) or unwilling to act in the best interest of the association. Maybe if board members had to personally pick up the tab for losses incurred the association, they would behave differently.

Looking to take out an additional loan amount has to be the granddaddy of dumb ideas. If the debt situation has just been brought under control through the consolidation of loans last year, why add risk by incurring more debt? I guess someone on the board has a pet project that needs completion. Again, they are looking to take on more debt, but they are still not willing to address the losses incurred by the POA. They’ll probably point to how wonderful the amenities are doing, but being disingenuous with how the financials are being reported and manipulating the cost structures does not change the reality that the losses are still there.

Property owners have a serious decision to make. But I wouldn’t support this budget either as a board member or even just a property owner. Just be wary, and I’ve said this before on the blog, that they don’t roll out this budget for shock value and then tone it down by 20-30%. If they come back with a lower number after claiming to have listened to the property owners, and that is something that rarely ever happens for those who attend board meetings, they still get 70-80% of what they wanted. Don’t be fooled.

TLTAdmin on February 26, 2015

We’ve had some requests regarding the full capital reserve study. We are now hosting this document. It is in three parts due to file size, and since it is a PDF file, it will require Acrobat Reader or other PDF viewer to read.

 

Capital Reserve Study – Part 1

Capital Reserve Study – Part 2

Capital Reserve Study – Part 3

 

TLTAdmin on February 25, 2015

1) For those that may not have been aware, we are providing a PDF of the presentation given to the property owners regarding the capital needs of Treasure Lake. As usual, this is a very broad stroke and includes no details on what exactly needs funding.

TL Options for Funding

 

2) House Committee notes from Wednesday, May 7th, 2014. This committee report addresses usage of the Lakeview Lodge. It is conveniently unavailable from the POA website, but we were able to obtain the information from former Director Marhelski. Given the historical losses incurred by the Lakeview Lodge this is information that our board never seems to want to really address.

MINUTES House Cmte Mtg 5-7-14

 

 

 

 

TLTAdmin on February 24, 2015

As posted on the TLPOA website with some additional formatting. Please note that the assessment is going to $960 along with a SPECIAL ASSESSMENT of $240. There is also a plan to take out an additional loan. Full analysis to occur in a follow-up post.

 

OPERATING BUDGET    2015-2016
Total Revenues  $ 7,536,234.00
Total Cost of Sales & Expenses  $ 6,413,922.00
     Net Profit/Loss  $ 1,122,312.00
Less Debt Services (Interest and Principle)  $ 652,962.00
     Funding for Capital Reserves  $ 469,350.00
   
CAPITAL BUDGET    2015-2016
Equipment and Projects  $  2,909,371.00


Proposed Permanent Lot Assessment Due May 1, 2015  $ 960.00
Proposed Monthly Special Assessment (For 12 Months of Fiscal Year)  $ 20.00


(Includes additional loan in the amount of $1,250,000)

editor1 on February 24, 2015

At the Feb. 16 worksession, events and recreation director Lori Corcoran said there are 26 weddings booked for 2015 and four for 2016. She also said they are working on booking conferences and other events.

While it is nice to have events that make people happy and celebrate special occasions — it is even nicer if these events make money and Treasure Lake property owners do not have to pick up the tab for other people’s happiness.

We are also concerned about hosting conferences. We have heard reports from our sources about the microphones and sound system rarely working not to mention the heating and air conditioning.

Very rarely is the TLPOA meetings comfortable it is usually too hot or too cold.

And just as important we wonder if the board and management will ever report the net profit of loss for special events, conferences or  weddings.

Without this information we may as well realize that property owners are paying for the event!

editor1 on February 23, 2015

The TLPOA will hold its February board of directors meeting tonight at 6 p.m. at the Lakeview Lodge.

editor1 on February 22, 2015

There continues to be a problem at the back gate with the inbound gate bar. It has not been in operation for some time.

At the Feb. 16 worksession, Security Officer Terry Kline said parts have been ordered to repair the back gate and the work will be done when the parts arrive.

editor1 on February 21, 2015

A winter storm warning is in effect from 7 a.m. this morning to 6 a.m. Sunday.

Today, periods of snow. Additional snow accumulation of 2 to 4 inches.  Not as cold with highs in the mid 20s.  Chance of snow near 100 percent. Wind chill values as low as 3 below.

Tonight, occasional snow with areas of freezing drizzle in the evening then a chance of light snow with areas of freezing drizzle after midnight. Total snow accumulation of 4 to 8 inches. Ice accumulation around a trace. Not as cool with lows in the lower 20s.  Chance of precipitation near 100 percent.

Sunday, cloudy with scattered snow showers in the morning. Highs around 30. Chance of snow 50 percent.

Sunday night, cloudy. Much colder with lows around zero.  Wind chill values as low as 18 below.

editor1 on February 20, 2015

TLPOA Director Joe Krill has been named chairman of the special water committee.

An eblast was sent to property owners asking if anyone would be interested in volunteering to serve on that committee.

We want to commend Krill for soliciting volunteers for the committee.

This is the way all the committese should be operating.

Property owners should be given the opportunity to volunteer to serve on committees.

The way the process has been working is that the majority of the chairmen appoint their friends without inviting property owners to participate.