As part of our ongoing efforts to maintain the long-term health of our community, the LPOA Board would like to highlight an important topic that affects all of us: Reserve Funding.

What Is a Reserve Fund?

A reserve fund is a dedicated savings account used to cover future repairs, replacements, and capital improvements to our shared community amenities and facilities.

These funds are not for everyday maintenance but are specifically reserved for larger, less frequent expenses—such as work on our clubhouse, pool, trails, docks, and other amenities that make our community enjoyable and functional.

A History of Responsible Planning

In 2015, the Board commissioned our first Reserve Study, a professional assessment of our assets and their life expectancies. This study allowed us to begin funding reserves to prepare for future capital needs. A follow-up study was completed in 2019, and we are pleased to share that the Board has approved budgeting for another reserve study in 2026 to ensure our financial planning remains accurate and up to date.  These studies examine all the property, capital projects and amenities throughout our community, and help us to build a stable and equitable multi-year funding plan for the association’s major repair and replacement expenses. This considers the end-of-life and replacement schedules for amenities, so we can prepare in advance for major expenses. Things omitted from the scope of this professional study include major Dam Spillway projections and some lake management procedures such as Cove Desilting. These studies help to provide direction for the Capital Expenditures Budgets.

Why the Reserve Fund Is Important
  • Prepares Us for Capital Improvements: Provides funding for major projects without financial disruption.
  • Protects Community Assets: Keeps amenities safe, functional, and visually appealing.
  • Avoids Special Assessments: Reduces the need for sudden dues increases or one-time resident assessments.
  • Preserves Property Values: A well-maintained community attracts buyers and keeps values strong.
  • Demonstrates Responsible Governance: Shows that the community is managed with foresight and care.
A Cautionary Example

Lakewood experienced this firsthand in 2015 when the East Lake pool unexpectedly failed inspection and was decommissioned, and more recently, we’ve observed a neighboring community facing similar consequences due to deferred maintenance.  These situations underscore the importance of planning and investing in adequate reserve funding to prevent negative impacts to residents and costly disruptions.

By continuing to plan responsibly and invest in our reserves, LPOA is working to ensure that we avoid similar issues and maintain the high standards we all value.

If you have questions about our reserve funds or the future reserve study, we invite you to contact the LPOA office or read more on our Reserve Funding Page for more information.

LPOA Board of Directors and Staff

Committed to Responsible Community Management