RRA Year End Treasurer’s Report

Both the staff and the directors of your property owner’s association take seriously the daunting task of maximizing what you pay in dues and assessments and practicing good financial stewardship. It would be awesome if we had an unlimited amount of resources to do everything each of you want done. Unfortunately, that is not the case. We have a very diverse community and the management of your funds is a continued focus of all involved.

I am pleased to announce we are in a positive financial state and should end this calendar year beating the budget we set a year ago. This was not by accident. The Financial Advisory Committee has worked diligently on delinquent accounts. This has all been done without paying a third party. We have enjoyed some success and look forward to additional success as our process matures. More of your neighbors have paid their 2019 dues than in prior years. I want to thank Nadine Pope and Patricia Wilson who spent a large amount of time on this project.

We have finalized the 2020 budget. There was much discussion and much consideration given on how best to approach next year. It is not our desire to raise our fees each year. Last year was the first increase since 2012. We were able to plan our initiatives and delay some projects until 2021. Some of you will be pleased with the decision to not raise fees in 2020 and some of you will not agree with this decision. There is no easy answer and we make our decisions in the best interest of the entire community. We do it for the right reasons and not to gain popularity. Please know that while we have not raised dues for 2020, in all likelihood, this will not be the case for 2021 and you may begin to plan for that now.

We also are focusing on fund accounting and calculating what each service and amenity costs including personnel expense. As a result of this exercise we determined that the snack bar located at pool one is losing money. This doesn’t make sense for anybody and we are evaluating how to address this going forward. Decisions will be communicated as soon as a resolution has been determined. Pool hours will also be shortened and both pools will close at 8:00 p.m. instead of 10:00 p.m.

Our financial focus is in sync with the needs of the community. Our roads, our lake, our pools, the upkeep of our properties and ensuring we are appropriately taking care of our employees is top of mind. The 2020 budget has included these priorities. Please remember we do have the challenges of equipment replacement, employee succession planning and unforeseen expenses and/or maintenance. If you change the word employee to family member each of you deal with these things in your own household.

Thank you for your confidence in your association. Please involve yourself with the decision making of your community by attending our Association meetings. Our neighborhoods, the people who live in them and our entire lake community is something to be proud of and it is an investment we should never regret.

Louise Lisac
Treasurer RRA Board of Directors

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Roaming Shores, OH
August 6, 2020, 9:11 pm
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