54th LPA ANNUAL MEETING HELD
David Finneseth was re-elected to a second, three-year term, and Sue Thompson was newly elected to the board for a three-year term.
Posted 06/07/2023
By Susan Thompson
Lake Panorama Times
The 54th annual meeting of the Lake Panorama Association was May 13 at the Lake Panorama National events center. About 90 people attended, representing 51 voting members. It was announced the LPA currently has a total membership of 1,727, with 11 of those inactive, because 2023 dues have not been paid.
Finneseth and Thompson elected to board
A total of 562 ballots were cast in the election for two people to serve on the LPA board of directors. There were four people running for the two seats. David Finneseth was re-elected to a second, three-year term. Sue Thompson was newly elected to the board for a three-year term.
Financial and audit reports
Dennis Flanery, LPA board treasurer, provided the 2022 financial and audit report for the LPA and its subsidiary, LPN, LLC. The CPA firm of Meriwether, Wilson and Company conducted the LPA annual audit, reviewing financial statements and balance sheets from 2022 and 2021 of the LPA and LPN, LLC.
Flanery said the auditor’s report stated the financial statements, consolidated reports and consolidated cash flows for both entities were in order, and that the methods used by staff to create the documents were in accordance with generally accepted auditing standards.
LPN’s 2022 operations showed a loss of $358,348. With other income and expenses, the overall loss was $428,348. Flanery said the LPN kitchen was closed in July of 2022, and outings and events were catered to finish the year. He noted the 2021 numbers showed a lower financial loss because $223,616 was received that year from the federal Paycheck Protection Program.
LPA reported net income of $255,553 for 2022. The budgeted operating income for 2023 shows a loss of $154,801. Flanery says the amount of depreciation on the new maintenance shop and water plant project is the reason the budget shows a loss.
“The amount of this non-cash item — depreciation — has increased greatly with the recent capital improvement projects completed,” Flanery said. “The 2023 budget also shows an increase in interest expense because these two projects are now complete. This makes our budget look worse in comparison to previous years. We can assure the membership cash flow remains viable and on track with respect to these important capital projects.”
Flanery said the LPA does not create its annual operating budget with the expectation of selling land. In light of recent bank failures, he also stated all LPA and LPN funds are 100% covered by FDIC.
President’s report
Rich Schumacher, LPA board president, chaired the meeting. To open his president’s report, Schumacher thanked those who volunteer on four standing LPA committees, including water safety, building codes, land sales and appeals. He also recognized the four volunteers who counted ballots for the 2023 annual meeting.
“These volunteers don’t do this for their personal gain, but rather because they know they are helping LPA members have a better experience here at Lake Panorama,” he said.
Schumacher also thanked the LPN, LLC board of managers for their help guiding this LPA subsidiary. He said replacement of turf equipment has been the most recent focus, with supply chain delays causing some issues. Plans for course enhancements at Lake Panorama National are being developed.
Turning to the LPA, Schumacher said the board takes a very serious look at the annual budget.
“While each area of the staff looks at their numbers, projecting out needs for up to five years, the board considers the needs, and questions if it can wait or what is a priority,” he said.
For many years, the LPA board has been restricted by a past membership vote to raising annual dues no more than 5%.
“I’ve had members ask the board to not increase the dues, and newer members say our dues are not high enough for what they receive,” Schumacher said. “When we looked at this year’s budget, we knew the 5% increase was necessary because of our increasing costs. That 5% increase will generate an additional $102,802.”
GM’s report
John Rutledge, LPA general manager and LPN, LLC director of operations, began his report with a look at the LPN.
“We do have a new model for LPN food and beverage for this year,” he said. “Nick and Lynn Kuhn have leased the kitchen and operate The Links Lounge, the event space and Spikes. We’re excited to welcome them and encourage membership support as they navigate their first season. Golf continues to be an important element of our community, and we thank you all for your continued support as we adapt to new strategies and approaches.”
Rutledge said the LPN welcomes feedback on dining, golf or lodging experience; send an email to feedback@lakepanorama.org.
Shifting gears to the LPA, Rutledge said the annual process of seal coating lake roads is suffering from inflation.
“The 2023 cost will be $31,000 per mile, and we will be doing seven miles of roadway,” he said. “For comparison, the cost in 2021 was slightly under $23,000 per mile, and we did about nine miles. This is an area where we will need to increase our budget in 2024. We need to get back to seal coating nine miles each year to keep up.”
The LPN maintenance department continues to work on a diverse range of projects.
“One issue we’ve discussed a lot in the last year has been roadway maintenance,” Rutledge said. “Members are encouraged to remember LPA owns not only the roadway, but also the shoulders and ditches. We work to maintain these in an aesthetically pleasing manner, but these also have a number of essential functional purposes — ensuring drainage off roads and adjacent properties, providing a place to store snow during the winter, and accommodate underground utilities.”
Rutledge said LPA Security handles water safety, land patrol, deer hunt management and other responsibilities that play a critical role for the association.
“One item to highlight is the importance of invasive species rule enforcement. Members who travel with their boats must comply to ensure the health of Lake Panorama into the future. This also applies to any used docks or lifts that are purchased from other bodies of water,” Rutledge said. “LPA occasionally receives some pushback on this topic, but we stand firm. The lake is the lifeblood of this community, and we must do our part to avoid the negative impact of invasive species.”
Rutledge said LPA Security officers now are equipped with both dash cameras and body cameras.
“2023 is a remarkably different environment for security than it was even three years ago,” Rutledge said. “These cameras are for the protection of the membership and the staff. A reality of today’s world is that you always have the potential to be on camera.”
The most recent inspection of the dam identified a few items to work into the LPA budget, but Rutledge said it remains in good shape.
“The overall health of the dam remains very impressive,” he said. “We consider the dam as one of our most important assets and responsibilities and are proactive about keeping it in good repair.”
Rutledge reported a new concrete wall has been installed at Sunset Beach, to replace the deteriorating wall made of railroad ties. He thanked members of the Panora Garden Club and other volunteers for their work to manage landscape beds at the lake’s three beaches.
A thanks to Mary Jane Carothers
Rutledge recognized Mary Jane Carothers, whose second three-year term on the LPA board ended with the annual meeting. Carothers served as board president for two years.
“I want to offer a personal thanks to Mary Jane for her past efforts as our board president,” Rutledge said. “She provided important leadership through the heart of the COVID-19 pandemic, which was a challenging task. State and federal rules and recommendations seemed to change daily. Her professional background and sound judgement provided me an important partner as we navigated uncharted territory. I will forever be grateful for her support.”
Rural Improvement Zone update
Next Rutledge turned his attention to the Lake Panorama Rural Improvement Zone (RIZ), which is projected to receive $3 million in revenues in the 2023-24 fiscal year.
Expansion of the 180th Trail Basin continues and will be used for sediment storage once the current basin is full. Two new wetlands to help protect water quality in Burchfield Cove are in the planning stages, but are bogged down because of current U.S. Army Corps of Engineers requirements. Rutledge said he hopes these two wetlands can move forward in the next 24 months.
The project to rip rap Lake Panorama’s south shore is complete. This project cost $862,000 and was funded by RIZ.
Rutledge said dredging being done this spring in the Narrows would end before Memorial Day weekend. The dredge crew then will turn its attention to assessing coves and spot dredging. Rutledge said he will be working in the coming months with the RIZ trustees to make plans for 2024 and beyond.
Donor-funded projects
Rutledge highlighted some recent donor-funded projects led by Friends of Lake Panorama, including the dog park, playground equipment at all three beaches, the sports courts at Boulder Beach, a new sports court at Sunset Beach, and the Shade Sails project near Spikes on the LPN golf course.
Now the Friends nonprofit is working with LPA on south shore improvements.
“Much of what Friends proposed in 2022 was on hold until the rip rap was completed,” Rutledge said. “Now we will revisit the details of the trail, parking and related improvements. We greatly appreciate the efforts of Friends and all the donors who support our community, and look forward to working with them in the coming months to finalize details for the south shore.”
New officers elected
Shortly after the annual meeting adjourned, the LPA board of directors convened a special meeting to elect officers for the coming year. A slate of officers was nominated and elected unanimously to take office upon adjournment of the special meeting. LPA board officers now are Emily Donovan, president; Rich Schumacher, vice president; David Finneseth, secretary; and Dennis Flanery, treasurer.
TWO GM COFFEES ANNOUNCED
During his remarks at the 2023 LPA annual meeting, John Rutledge, LPA general manager and LPN director of operations, announced dates for two upcoming GM coffees for the remainder of 2022. The dates fall on Fridays, and are July 7 and Sept. 1. Meetings begin at 10:30 a.m. and are held at the Lake Panorama National event center.
Coffee and other refreshments are available at these informal gatherings, where Rutledge provides an update on current happenings, then takes questions from members in attendance.
If members have questions they would like covered about LPA policies or developments, they can email lpa@lakepanorama.org to give Rutledge an opportunity to prepare in advance. LPA members with questions specific to their own membership or property should call the LPA office during regular business hours at 641-755-2301.
By Susan Thompson
Lake Panorama Times
The 54th annual meeting of the Lake Panorama Association was May 13 at the Lake Panorama National events center. About 90 people attended, representing 51 voting members. It was announced the LPA currently has a total membership of 1,727, with 11 of those inactive, because 2023 dues have not been paid.
Finneseth and Thompson elected to board
A total of 562 ballots were cast in the election for two people to serve on the LPA board of directors. There were four people running for the two seats. David Finneseth was re-elected to a second, three-year term. Sue Thompson was newly elected to the board for a three-year term.
Financial and audit reports
Dennis Flanery, LPA board treasurer, provided the 2022 financial and audit report for the LPA and its subsidiary, LPN, LLC. The CPA firm of Meriwether, Wilson and Company conducted the LPA annual audit, reviewing financial statements and balance sheets from 2022 and 2021 of the LPA and LPN, LLC.
Flanery said the auditor’s report stated the financial statements, consolidated reports and consolidated cash flows for both entities were in order, and that the methods used by staff to create the documents were in accordance with generally accepted auditing standards.
LPN’s 2022 operations showed a loss of $358,348. With other income and expenses, the overall loss was $428,348. Flanery said the LPN kitchen was closed in July of 2022, and outings and events were catered to finish the year. He noted the 2021 numbers showed a lower financial loss because $223,616 was received that year from the federal Paycheck Protection Program.
LPA reported net income of $255,553 for 2022. The budgeted operating income for 2023 shows a loss of $154,801. Flanery says the amount of depreciation on the new maintenance shop and water plant project is the reason the budget shows a loss.
“The amount of this non-cash item — depreciation — has increased greatly with the recent capital improvement projects completed,” Flanery said. “The 2023 budget also shows an increase in interest expense because these two projects are now complete. This makes our budget look worse in comparison to previous years. We can assure the membership cash flow remains viable and on track with respect to these important capital projects.”
Flanery said the LPA does not create its annual operating budget with the expectation of selling land. In light of recent bank failures, he also stated all LPA and LPN funds are 100% covered by FDIC.
President’s report
Rich Schumacher, LPA board president, chaired the meeting. To open his president’s report, Schumacher thanked those who volunteer on four standing LPA committees, including water safety, building codes, land sales and appeals. He also recognized the four volunteers who counted ballots for the 2023 annual meeting.
“These volunteers don’t do this for their personal gain, but rather because they know they are helping LPA members have a better experience here at Lake Panorama,” he said.
Schumacher also thanked the LPN, LLC board of managers for their help guiding this LPA subsidiary. He said replacement of turf equipment has been the most recent focus, with supply chain delays causing some issues. Plans for course enhancements at Lake Panorama National are being developed.
Turning to the LPA, Schumacher said the board takes a very serious look at the annual budget.
“While each area of the staff looks at their numbers, projecting out needs for up to five years, the board considers the needs, and questions if it can wait or what is a priority,” he said.
For many years, the LPA board has been restricted by a past membership vote to raising annual dues no more than 5%.
“I’ve had members ask the board to not increase the dues, and newer members say our dues are not high enough for what they receive,” Schumacher said. “When we looked at this year’s budget, we knew the 5% increase was necessary because of our increasing costs. That 5% increase will generate an additional $102,802.”
GM’s report
John Rutledge, LPA general manager and LPN, LLC director of operations, began his report with a look at the LPN.
“We do have a new model for LPN food and beverage for this year,” he said. “Nick and Lynn Kuhn have leased the kitchen and operate The Links Lounge, the event space and Spikes. We’re excited to welcome them and encourage membership support as they navigate their first season. Golf continues to be an important element of our community, and we thank you all for your continued support as we adapt to new strategies and approaches.”
Rutledge said the LPN welcomes feedback on dining, golf or lodging experience; send an email to feedback@lakepanorama.org.
Shifting gears to the LPA, Rutledge said the annual process of seal coating lake roads is suffering from inflation.
“The 2023 cost will be $31,000 per mile, and we will be doing seven miles of roadway,” he said. “For comparison, the cost in 2021 was slightly under $23,000 per mile, and we did about nine miles. This is an area where we will need to increase our budget in 2024. We need to get back to seal coating nine miles each year to keep up.”
The LPN maintenance department continues to work on a diverse range of projects.
“One issue we’ve discussed a lot in the last year has been roadway maintenance,” Rutledge said. “Members are encouraged to remember LPA owns not only the roadway, but also the shoulders and ditches. We work to maintain these in an aesthetically pleasing manner, but these also have a number of essential functional purposes — ensuring drainage off roads and adjacent properties, providing a place to store snow during the winter, and accommodate underground utilities.”
Rutledge said LPA Security handles water safety, land patrol, deer hunt management and other responsibilities that play a critical role for the association.
“One item to highlight is the importance of invasive species rule enforcement. Members who travel with their boats must comply to ensure the health of Lake Panorama into the future. This also applies to any used docks or lifts that are purchased from other bodies of water,” Rutledge said. “LPA occasionally receives some pushback on this topic, but we stand firm. The lake is the lifeblood of this community, and we must do our part to avoid the negative impact of invasive species.”
Rutledge said LPA Security officers now are equipped with both dash cameras and body cameras.
“2023 is a remarkably different environment for security than it was even three years ago,” Rutledge said. “These cameras are for the protection of the membership and the staff. A reality of today’s world is that you always have the potential to be on camera.”
The most recent inspection of the dam identified a few items to work into the LPA budget, but Rutledge said it remains in good shape.
“The overall health of the dam remains very impressive,” he said. “We consider the dam as one of our most important assets and responsibilities and are proactive about keeping it in good repair.”
Rutledge reported a new concrete wall has been installed at Sunset Beach, to replace the deteriorating wall made of railroad ties. He thanked members of the Panora Garden Club and other volunteers for their work to manage landscape beds at the lake’s three beaches.
A thanks to Mary Jane Carothers
Rutledge recognized Mary Jane Carothers, whose second three-year term on the LPA board ended with the annual meeting. Carothers served as board president for two years.
“I want to offer a personal thanks to Mary Jane for her past efforts as our board president,” Rutledge said. “She provided important leadership through the heart of the COVID-19 pandemic, which was a challenging task. State and federal rules and recommendations seemed to change daily. Her professional background and sound judgement provided me an important partner as we navigated uncharted territory. I will forever be grateful for her support.”
Rural Improvement Zone update
Next Rutledge turned his attention to the Lake Panorama Rural Improvement Zone (RIZ), which is projected to receive $3 million in revenues in the 2023-24 fiscal year.
Expansion of the 180th Trail Basin continues and will be used for sediment storage once the current basin is full. Two new wetlands to help protect water quality in Burchfield Cove are in the planning stages, but are bogged down because of current U.S. Army Corps of Engineers requirements. Rutledge said he hopes these two wetlands can move forward in the next 24 months.
The project to rip rap Lake Panorama’s south shore is complete. This project cost $862,000 and was funded by RIZ.
Rutledge said dredging being done this spring in the Narrows would end before Memorial Day weekend. The dredge crew then will turn its attention to assessing coves and spot dredging. Rutledge said he will be working in the coming months with the RIZ trustees to make plans for 2024 and beyond.
Donor-funded projects
Rutledge highlighted some recent donor-funded projects led by Friends of Lake Panorama, including the dog park, playground equipment at all three beaches, the sports courts at Boulder Beach, a new sports court at Sunset Beach, and the Shade Sails project near Spikes on the LPN golf course.
Now the Friends nonprofit is working with LPA on south shore improvements.
“Much of what Friends proposed in 2022 was on hold until the rip rap was completed,” Rutledge said. “Now we will revisit the details of the trail, parking and related improvements. We greatly appreciate the efforts of Friends and all the donors who support our community, and look forward to working with them in the coming months to finalize details for the south shore.”
New officers elected
Shortly after the annual meeting adjourned, the LPA board of directors convened a special meeting to elect officers for the coming year. A slate of officers was nominated and elected unanimously to take office upon adjournment of the special meeting. LPA board officers now are Emily Donovan, president; Rich Schumacher, vice president; David Finneseth, secretary; and Dennis Flanery, treasurer.
TWO GM COFFEES ANNOUNCED
During his remarks at the 2023 LPA annual meeting, John Rutledge, LPA general manager and LPN director of operations, announced dates for two upcoming GM coffees for the remainder of 2022. The dates fall on Fridays, and are July 7 and Sept. 1. Meetings begin at 10:30 a.m. and are held at the Lake Panorama National event center.
Coffee and other refreshments are available at these informal gatherings, where Rutledge provides an update on current happenings, then takes questions from members in attendance.
If members have questions they would like covered about LPA policies or developments, they can email lpa@lakepanorama.org to give Rutledge an opportunity to prepare in advance. LPA members with questions specific to their own membership or property should call the LPA office during regular business hours at 641-755-2301.