The April 6, 2022 OTIA meeting was held via ZOOM.
Board members present were Ken Hohs, William Yarbrough, Ramona Triebold, Rich Rieck, Michael Denton, Jeff Kehr, Lisa Brickert, and Kevin Shifley.
There were no Members at Large on this meeting.
The virtual meeting was called to order at 7:03 p.m. by President, Ken Hohs.
OTIA MINUTES:
A motion to both wave the reading of and approve the February 2, 2022 meeting minutes was made by Rich Rieck and seconded by Michael Denton. The motion passed.
TREASURER REPORT:
William Yarbrough delivered the Treasurer’s report. As of March 31, 2022 OTIA had Cash of $33,855.93, cash in Reserves of $35,542.13 and $19,301.25 of outstanding accounts receivables. Total assets equaling $88,699.31.
The breakdown of the receivables is as follows:
2019 outstanding dues: $ 2,676
2020 outstanding dues: $ 2,430
2021 outstanding dues: $ 3,230
2022 outstanding dues: $10,964
Prepaid dues: (170)
TOTAL $19,301.25
Details of funds in reserves are as follows:
Savings (contains budgeted reserves) $13,708.37
Checking Reserves: Boat Ramp: $10,737.65
Boat Slip $ 7,863.65
Water Shed Grant $ 1,021.20
Misc (ie selling of FOBs) $ 2,211.91
The spring mailing to the OTIA residents will include:
- Spring Acorn
- Dues Statement
- For dues outstanding for more than 1 year, a letter of intention of account going to collections action
There was once again discussion ensued regarding putting some of the funds into a higher interest bearing fund or CD. However, as William researched, the rates are not of any advantage at this time so will be tabled until further date if rates increase.
A motion to accept was made by Ramona Triebold to accept the treasurer’s report as presented and seconded by Rich Rieck. The motion passed.
OLD BUSINESS:
Rich Rieck reported that he received the case number for the accident report surrounding the Oak Terrace sign that was hit by a motorist. In order to pick up the documents, someone has to go to the courthouse in Waukegan with the $5 fee in order to obtain the details, Rich Rieck and Michael Denton will coordinated going to get it.
Summerfest will be held again this summer and the date is to be Saturday, July 30th. A committee was formed to organize the event, volunteers are: Ken Hohs, Nancy Krejsa, Lisa Brickert, Ramona Triebold and Rich Rieck. Of course, any OTIA members are welcome to assist. More details to follow.
FOB pick-up, Ramp key pick up/exchange will take place at Beach Park on Saturday, April 30th from 10am – noon. Ken Hohs will be there to accommodate anyone needing one of these items. Please note that as of April 30th, the ramp lock will be changed and keys from last year will no longer work.
A note for OTIA residents, whenever a home in Oak Terrace is sold, the FOB(s) should be turned back in to be erased and re-used. The FOBs will then be re-programmed and issued to new residents with a signed agreement.
New bid was received from existing landscaper and as pricing is the same as last year, the contract was accepted and signed.
Based on discussions from the February meeting regarding “NO Parking Signs” at Beach Park, Ken contacted the authorities, and determined that the signs were not issued by the township so they can be removed. A motion was made by Ramona Triebold to go ahead and remove them and second was made by Michael Denton. As the motion passed, Rich volunteered to spearhead the project once the weather got nice enough to remove them.
NEW BUSINESS:
Resident, Michael Denton, approached the board regarding hosting an event at Lakeview Park and utilizing the electricity. He pledged a donation to OTIA to cover costs.
There being no further business before the Board, Rich Rieck made a motion to adjourn the meeting and Jeff Kehr seconded the motion. The motion passed and the meeting was adjourned at 7:58pm.
The next OTIA meeting will be June 1, 2022at 7:00 pm with the venue to be determined.
Respectfully submitted by Ramona Triebold, Secretary
