November 2023 Newsletter
November 2023 Newsletter
HOLIDAY FUND
One of the best ways to thank our staff and show our appreciation for their hard work throughout the year is for you, as an Owner, to voluntarily contribute to the Employee Holiday Fund. It is through the efforts of our staff that many of the little problems and all of the larger problems are solved. The Board is asking each Owner to voluntarily contribute at least $25 or more to the Holiday Fund (Coupon and return envelope enclosed with Newsletter).
The funds will be shared with our employees based on seniority, responsibilities and amount of time worked during the year. Your contribution (check) should be made payable to Lakeside Club and marked “Employee Holiday Fund”. Your Holiday Fund check along with the contribution coupon may be placed in the enclosed envelope (along with your dues if you don’t have auto deduction). The employee will be given a Holiday card containing the name and unit number of each contributor. Our goal is 100% participation. Thank you so much for your anticipated contribution. Your show of appreciation for our staff will go a long way.
LAKESIDE CLUB CONDOMINIUM ASSOCIATION
TREASURERS REPORT FOR THE ONE MONTH AND TWO MONTHS ENDING SEPTEMBER 30, 2023
September |
Year To Date |
Fiscal Year Budget | Over (Under) Budget | |
Revenue | $34,376 | $103,979 | ||
Expenses: | ||||
Personnel Costs | 10,747 | 26,335 | 126,100 | (99,765) |
Maintenance | 22,895 | 77,591 | 201,120 | (123,529) |
Utilities | 5,980 | 17,421 | 72,400 | (54,979) |
Interest | 338 | 1,475 | 3,200 | (1,725) |
Professional Fees | 6,684 | 10,960 | 25,200 | (14,240) |
Office & Miscellaneous | 258 | 913 | 5,000 | (4,087) |
Total Expenses | $46,902 | $134,695 | $433,020 | ($298,325) |
Income(Loss) | ($12,526) | ($30,716) | ||
Current Year | Prior Year | |||
Expenses as a Percentage of Budget | 31.1% | 36.1% | ||
Operating Cash Balance | $42,935 | $11,844 | ||
Amount Owed to Other Funds | $42,110 | $5,601 | ||
Outstanding Line of Credit | $40,000 | 0 | ||
Financial Information
Reminder: Monthly dues increased to $475/month beginning October 1, 2023.
Additional Assessments for Major Maintenance
- 2023-2024—the following items have been identified as major maintenance items needing attention within the next six months outside of the normal operating maintenance covered by dues:
- Replacement of the pool dehumidifier approximately $86,000
- Header Replacement to Building D approximately $50,000
- Leveling Support of Buildings D & E approximately $76,000
- Landscaping approximately $50,000
- The Board is levying an additional assessment of $3,600 per unit to cover these major maintenance items, payable in 12 monthly payments of $300 per month beginning October 1, 2023 and ending September 1, 2024. In lieu of monthly payments, a one-time discounted payment of $3,420 will be accepted if paid in full by October 31, 2023.
Additional Assessments for Cash Replenishment
- We have had five consecutive years where our expenses have exceeded our income.
- We have used our excess cash in order to pay day-to-day expenses and now we have no excess cash.
- The Board is levying an additional assessment of $1,020 per unit to cover these major maintenance items, payable in 3 monthly payments of $340 per month beginning October 1, 2023 and ending December 1, 2023. In lieu of monthly payments, a one-time discounted payment of $969 will be accepted if paid in full by October 31, 2023.
Rental Survey
Approximately two-thirds of Lakeside Club owners have submitted rental surveys—thank you. Paper copies are still trickling in, so we will wait a while longer before finalizing and sharing data
New Owner
Robert and Barbara Hammond sold Unit 66 to a new owner. We welcome Lisa Muneio to Lakeside Club.
Project/Grounds Update
- Hedges have been sprayed with deer repellant.
- Snow stakes have been placed along roadways.
- Chimney cracks have been caulked and vent boots were sealed, as needed.
- Great Lakes Pool and Spa (Traverse City) is working on the hot tub jet leaks.
- The pool dehumidifier has arrived and installation is scheduled for November 1. The pool will be closed during installation of the dehumidifier.
- Landscaping of two buildings, I (units 45-50) and J (units 71-76), is mostly complete.
- The header project on building D (units 13-22) will be done in Spring 2024.
- The support and leveling project on buildings D & E (units 13-32) will be completed by the end of the year. Owners will be notified when the work is scheduled.
It is time to get ready for cold and snow. Brrr . . .
Winter Heat Checks
Staff will begin winter heat checks, ensuring that windows are closed, heat is turned on, and thermostats are set to a minimum of 55 degrees. If you do not want your unit checked during the winter months, please submit a work order through the LSC webite. Units will be checked periodically, especially when temperatures are extremely cold.
Winter Reminders
- Hoses must be removed from external faucets and faucets shut off.
- All planters, flowerpots should be removed from the stairs and sidewalks prior to November snowfall.
- Be sure to check all windows to ensure they are securely closed.
- Set thermostat for heating with a minimum temperature of 55 degrees when not occupied.
- Moorings should be removed from the lake or properly marked with a smaller winter buoy. We will be removing abandoned moorings in the spring so at that time, please make sure your unit number appears on your buoy.
- Watercraft and trailers must be properly stored for the winter.
- Please call the office with any questions regarding winterization.
- During snow season (November – April), vehicles need to be routinely moved for effective snow removal.
John Lehman shares information from the LSC website and info about Local Events and Activities in November.
Web page of the month: petoskeylsc.com (password) LSC76Owners
Web page of the month: Owner Amenities (OWNERS Menu)
An amenity is defined as “any feature that provides comfort, convenience, or pleasure,” and the Lakeside Club provides many amenities for its co-owners, including garages for most units, watercraft mooring on Round Lake, swimming beaches, a gazebo for small gatherings, a heated pool and hot tub, tennis and pickleball courts, and even free deck stain. Look here for details about each of the amenities, such as open hours for the pool and any limitations on usage.
Local Events and Activities in November
Notice that many of the following events are offered online, so they are available for members who are not currently at Lakeside Club. To copy the web address of an event easily, use the LSC website’s version of this Newsletter.
From November 3 through November 12, enjoy the special meals and deals offered during Petoskey’s Restaurant Week. (http://www.petoskeychamber.com/petoskey-restaurant-week)
At 11:30 am on November 3, attend a Luncheon Lecture by Sarah and Kyle Ulrich on how Northwest Michigan’s Habitat for Humanity is dealing with the lack of affordable housing. (https://www.ncmclifelonglearning.com/event-5392145)
At 9 am on November 4, view an online presentation by Craig Coffman on “Instant Piano for Hopelessly Busy People”. (https://www.ncmclifelonglearning.com/event-5252391)
From 11 am to 5 pm on November 4, go to Odawa Casino’s Ovation Hall for their annual holiday gift and craft show. (https://petoskeyarea.com/events/holiday-gift-craft-show-at-odawa-casino-petoskey/
At 1 pm on November 4, view an online presentation by Craig Coffman on “Instant Guitar for Hopelessly Busy People”. (https://www.ncmclifelonglearning.com/event-5252411)
At 7 pm on November 4, enjoy “Echoes from the Musikverein” with the Great Lakes Chamber Orchestra, featuring piano soloist Michael Barrett. (https://glcorchestra.org/concert/echoes-from-the-musikverein/)
At 11 pm on November 4, Zonta Club of Petoskey will present their 51st annual fashion show in the Lange Center at Bay Harbor Yacht Club. (https://zontapetoskey.com/2023/08/01/51st-annual-zonta-fashion-show/)
At 7 pm on November 6, view an online presentation by Mary Jane Doerr of the songs of J. Will Callahan, Tin Pan Alley’s blind lyricist, who worked in and around Petoskey. (https://www.ncmclifelonglearning.com/event-5400288)
At 5:30 pm on November 8, 15, 21, 29, and December 6, Gabriel Mattice will provide in-person instruction in Shofukan Karate. (https://www.ncmclifelonglearning.com/event-5404957)
At 7 pm on November 9, David L. Miles will relate the history of the lighthouses of Charlevoix online. (https://www.ncmclifelonglearning.com/event-5396827)
From noon to 12 pm on November 11, Camp Daggett and Stiggs Brewery & Kitchen will be hosting “Pour for a Purpose: Walloonie for a Pontoonie.” (https://www.campdaggett.org/event/walloonie-for-a-pontoonie/)
At 5:30 pm on Mondays from November 13 to December 11 Sara Glasgow will present an in-person workshop on Tarot 101. (https://www.ncmclifelonglearning.com/event-5405231)
At 6 pm on November 15, Fustini’s will offer a virtual cooking class with Chef Laura Rainey. Registration ends Nov. 4. (https://www.ncmclifelonglearning.com/event-5440187)
At 11:30 am on November 17, staff from the National Weather Service office in Gaylord will discuss our recent weather and offer some predictions about future weather. (https://www.ncmclifelonglearning.com/event-5392149)
At 7 pm on November 18, experience CTAC’s School of Ballet’s 17th Annual “Fall for Dance.” (https://www.crookedtree.org/event/ctac-petoskey-ctac-school-ballet/ctac-school-ballet-presents-fall-dance)
At 7:30 pm on November 18, hear the Moxie Strings, hailed for their top-notch instrumental wizardry, at the Crooked Tree Arts Center. (https://www.eventbrite.com/e/moxie-strings-tickets-713304160947)
At 7 pm on November 20, Ric Mixter will give an online presentation of “The King of Storms,” which took down 12 ships in 1913. (https://www.ncmclifelonglearning.com/event-5388113)
At 1 pm on November 21, Jeff Samyn will teach you how to minimize aches and pains during holiday travel. (https://www.ncmclifelonglearning.com/event-5366727)
At 7 pm on November 21, watch an online presentation by Allison Strom about the discoveries and puzzles from the James Webb Space Telescope during its first year. (https://www.ncmclifelonglearning.com/event-5456489)
Thank you to Shelly Germain, Greg Waller, Kevin Kissinger, and John Lehman for their contributions to this newsletter. Carol Woodhurst