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The Facilities Development Committee

“FACILITIES DEVELOPMENT (Capital Improvements) COMMITTEE . . . . shall examine existing properties and make recommendations for their maintenance and development. They may make recommendations to the Board for future enhancements. They shall provide information for capital improvements and any other objectives directed by the Board.”

Advisory Committee
Lakewood Policy #3 | Committees

Purpose of the Committee

The FDC committee is an advisory committee to the LPOA Board of Directors. Our mission is to recommend the allocation of the Capital Expenditures budget and LIP (Lakewood Improvement Program), which is the variance between revenue less expenses in the Operating Budget as recommended by the Finance Committee. We make recommendations only and do not oversee any purchases, projects or repairs.

These allocations can be Capital Expenditures or lesser items that fall under repairs or maintenance not related to the everyday operation of the LPOA. This includes prioritizing allocations for:

    • All Capital Improvements Projects
    • Debt allocation
    • Reserve Funding management
    • Planned or Unplanned Amenity and equipment repairs, updates and maintenance

Committee Members

Co-Chairs:

    • Terry White
    • Christy Nyquist

Members:

    • Brooke Beebe
    • Bill Fialka
    • Sheryl Franke
    • Karly Qualls
    • Shirley Stimac
    • Bethany Szczepanski

Interested in serving on this committee?

How does the Committee Track Recurring Maintenance Projects

The Facilities Development committee began to track Capital Improvements in a 10-year rolling format beginning in the early 2000’s.

Here are general examples of things that are on a recurring basis:

    • About every 3 years a Community Services truck needs to be replaced
    • Every 6 or 8 years, a boat motor would need to be requested for Patrol boats
    • About every 10 years, sealing parking lots

How to Read the Capital Expenditures Budget Spreadsheets

Our Capital Expenditures Budget is also known as the Lakewood Improvement Program (LIP) Budget, or the Facilities Development Budget. There are two spreadsheet views that represent our Capital Expenditure items within the Association:

10-Year-Rolling Consolidated View

This spreadsheet is managed by the Accounting Manager, and is used in audits. This is the official Capital Expenditures spreadsheet.

Annual Spending and Reserve View

This spreadsheet is managed by the General Manager, and is presented at Facilities Committee meetings. This spreadsheet takes extra steps to identify the following details for analysis:

    • The source of funding (did the funding come from the reserve fund, dues, etc)
    • The last year that that project had been completed (if recurring)
    • Distinguishes funds between whether they are being sent to reserves or spent that year on the project itself
    • The ranked priority of incoming project requests (1 is highest priority, etc)
    • Provides a place-holder for project requests that have been submitted, but not approved
    • Details which staff member is the lead on the project

Budgets - Lakewood Improvements Program (LIP)

We give priority to the following items:

Reserves

This is money set aside for each amenity – preparing for the time that the amenity has reached the end of its useful life or needs extensive repairs. In the last few years this is perhaps the single most fiducially responsible action that we have taken as a HOA and is our #1 priority to fund.

Debt Reduction

The last couple of years (2020’s) our committee has recommended to the Board that we put a significant amount of our LIP budget towards debt reduction. This would enable the LPOA to retire all or most of our debt in 2025 which would free up a significant amount of money which is now going to interest. We currently have a very favorable interest rate on our loan and would like to avoid refinancing at much higher rates.

Code Compliance and Safety

Making sure our amenities and properties are up to code and safe for our residents is another important priority to our committee.

EarMarked Projects & Resident Requests

Each year we also look at projects we have ear-marked from years past and current resident requests. While many of these have merit, we are looking forward to the day when we are out of debt and can use the monies we currently pay in interest to be able to fund some of these things. Two major things are considered for Projects and Requests. Is this a “want” vs a “need” and how many members will be impacted by the funded project.

The Meeting Schedules

We generally meet mid-September thru mid-November in conjunction with the annual budget process. At the end of this process, we present our recommendations to the BOD who vote to adopt or change our suggestions. The meetings are generally open to the public at the beginning and then closed while the committee has work and discussion.

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