November 2020 Annual Meeting Minutes

Minutes of the Annual General Meeting – November 4, 2020

Board Members present: Ken Hohs, William Yarbrough, Kevin Shifley, Richard Rieck, Jim Harms, Jeff Kehr, Alfonso Contreras, Ramona Triebold and Nancy Krejsa (via ZOOM).
Members at Large present: Steve and Nancy Parker, Kathy Komin, Tim Thompson, Meridy Niederkorn, Josh Hogan, Lisa Brickert, Evelyn and Denise Juern (via ZOOM).

The meeting was called to order at 7:07pm by President Ken Hohs.
Introductions were made of all the board members and then members at large, unfortunately due to COVID no guests were invited to the meeting that is usually done, to ensure guest limit is kept to Fire station restrictions.

Annual Minutes: As customary, minutes from the last annual meeting, November 6, 2019, were distributed for review and approval. Steve Parker made a motion to dispenses of the formal reading of the minutes and approve them, Josh Hogan seconded the motion and it passed.

Treasurer’s Report- William Yarbrough presented the treasurer report, as of 10/31/2020 OTIA has total assets of $59, 670.63. This is comprised of:
1) Cash: $23,689.91
2) Cash Reserves: $22,799.03
a. General Fund: $11,202.07
b. Boat Ramp Fund (generated by ramp key rental): $9,574.48
c. Boat Slips: $4,788.65
d. Watershed Grant: $1,021.20
e. Seawall fund: $1,908.20
f. General Reserve (FOB replacements): $70.00
g. Less ($4000.00) earmarked for down payment on riprap and $1,765.57 prepayment of 2 months of liability insurance
3) Outstanding receivables: $13,181.69
a. 30 properties make up 16% of the delinquencies
b. Of the 2020 dues, $4,760.00 are still due
c. 1 account makes up 50% of the delinquencies
d. Due to COVID we have seen a higher past due balance this year
Jim Harms made a motion to accept the Treasurers report as presented. The motion was seconded by Alfonso Contreras and was passed.

William Yarbrough shared the budget proposed by the Board to the membership. He stated the dues would remain the same as 2017, 2018 and 2019 at $170 annually. The budget had been distributed to each member prior to the November meeting by US mail. William went through the proposed budget by line.

  • Insurance premium went up slightly as it was reviewed by Ken and noticed that and number of properties and boat slips covered needed to be increased.
  • Property Maintenance was increased 3%, this includes quarterly examines by ILM.
  • Summerfest: since we were unable to hold it in 2020, the funds were carried over to 2021 so no additional funding is needed.
  • Instead of then needing the $2,050 for Summerfest, included this for new picnic tables – 2 at the Beach Park and 1 at Lakeview Park.
  • Electric had come under budget in 2020 so reduced it for 2021 slightly.
  • Legal/Professional – Ken was able to secure a reduction in OTIA legal retainer, so reduction in budget for 2021.
  • Lake County Swimming Permit – this was a new expense for 2020 so included it in the 2021 budget.
  • Miscellaneous Maintenance – this encompasses needs throughout the subdivision such as parks and lake.
  • Removed the Emergency 911 Phone expense as funding of it is no longer needed at the beach park. Signage had instead been posted notifying patrons of cell phone requirements in the event of an emergency.
  • Lake County Sheriff assigned to the subdivision during trick-or-treating again for next year.
  • Porta potty expense increased for 2021 due to increase cleaning, hand sanitizer dispenser, etc due to COVID.
  • William pointed out that the slight increase in the budget would be funded by the $50 fee the Association charges for closing documentation provided at home closings.
    Ramona Triebold made a motion to approve the OTIA 2021 budget as presented. Jeff Kehr seconded the motion and the budget was approved.
  • New Business:
    1) Shorewerks was able to secure the necessary approval from the Army Corp of Engineers so they expect to be able to finish the placement of riprap this year.
    2) Kevin Shifley informed everyone that there is now a Community Library in Oak Terrace located on Oak Street.
    3) A reminder was made for residents to get signed up for the following newsletters as they provide valuable new information regarding our neighborhood i.e. the new leaf vacuum service by Groot.
  • Diana O’Kelly, Fremont Township Supervisor:
    www.fremonttownship.com – click on “Signup for our Newsletter”
  • Jessica Vealitzek, Lake County Board:
    https://public.govdelivery.com/accounts/ILLAKE/subscriber/new?topic_id=ILLAKE_23
  • [email protected] send email to get OTIA information
    The results of the election were reported by board members: Jim Harms and Jeff Kehr and are as follows:
    Elected to the Board for two year terms:
     Ken Hohs
     Nancy Krejsa
     Richard Rieck
     Ramona Triebold
     Kevin Shifley
     William Yarbrough
    There being no further business to discuss, Richard Rieck made a motion to adjourn. Kevin Shifley seconded, and the motion passed. The meeting adjourned at 7:38pm.
  • At the executive session, meeting dates for the 2020-2021 year were decided as follows:
    February 3,
    2021
    April 7, 2021
    June 2, 2021
    August 4, 2021
    October 6, 2021
    Annual Meeting: November 3, 2021
  • Respectfully submitted by Ramona Triebold, OTIA Secretary