Minutes – Annual Owner’s Meeting October 2, 2021

Peterson’s Waterfront Annual Owner’s Meeting
October 2, 2021

Present: All members participated via Zoom
Karen Lytle, President
Mike Begley, Vice President
Paul Goldsberry, Member at Large
David Blacker, Member at Large
Debra Wheeler, Secretary/Treasurer
Mark Elliot, General Manager

The meeting was called to order at 11:00 by Board President Karen Lytle.

Confirmation of Quorum: It was determined that a Voting Quorum was represented.

President Lytle welcomed everyone who was attending the meeting via zoom and Mark Elliot reminded everyone that the meeting was being recorded. The current Board was introduced as well as Mark Elliot the Resort General Manager.

Approval of Minutes: A motion was made by Mike Begley to approve the minutes of the September 15, 2021 Board meeting and Paul Goldsberry seconded the motion.

New Business:

President Lytle reported on the overall condition of the Resort and the positive condition of the facility. She acknowledged Mark Elliot the General Manager and Mike Hedrich the Maintenance Manager and their staff for their continuing efforts to maintain and improve the Resorts facilities. Maintaining and cleaning the Resort during a Pandemic has been very challenging. They have done excellent work.

Several Owners asked questions during President Lytle’s report. Those questions emphasized a request for more enforcement of Resort policies such as the wearing of wrist bands and the removal of towels from chairs during the busy season. There was discussion on the process for filling vacant board positions when someone resigns. A request was also made for more communication from the Board.

General Managers Report: Mark Elliot reported on the many projects that were completed by in-house staff in 2021. The savings brought about by the maintenance staff with Mark Hedrich’s guidance have been significant. Repairs for the upcoming Off Season will include research into the surface treatments on decks and walkways, bolstering and replacing missing timbers on the full share dock and replacing and upgrading the Wi-Fi. The Resort has also added exterior lights to the lakeside of the Resort. This was done to participate in programs of the Chelan Chamber of Commerce and to brighten the exterior of the Resort at night.

Mark has placed comment cards in Time Share Units and is using those cards to facilitate repair of any noted issues. This has resulted in a significant drop in calls to maintenance for repair during a stay. Most of the comments received are very positive and many make great suggestions on items the Resort can implement to improve everyones experience.

Financial Reports: Debra Wheeler reported that the Resorts cash balances are good. Total income for 2021 YTD thru the end of September is less than budgeted with a large part of this difference represented by lower rentals as compared to the surge in rentals during the Covid Epidemic in 2020. Using the more normal year of 2019 is a more effective comparison. She also reported that all expense categories relating to rentals were also lower which offsets the difference in income.

Collection of delinquent accounts has generated sufficient income to allow some large required maintenance projects to be scheduled with little to no impact to our cash flow. Lastly Common and Time Share accounts are progressing nicely with Common Reserves at $77,174, and TS Reserves at $20,926 thru the end of September. The Major Common Reserve Account which was set up to collect funds for the major capital expenditures expected in the future, such as siding, are at $149,252.

Communications Committee: Mike Begley reports that we have made positive progress on improving communication between owners and the Resort. He reminded those in attendance at the meeting that they are welcome to call him with any issues and he will try to find them answers. He credited President Lytle and Mark Elliot with covering most of the topics that needed to be addressed in their comments.

Delinquent Accounts Summary: Mark Elliot reported on the Resorts continuing efforts to collect on delinquent accounts. Kim Gardner has been spending many hours and successfully taken delinquent owners that were significantly in default to Small Claims court.

Many years ago the Board of Directors did not pursue collections on the delinquent accounts and in some situations approved that the Association take back the ownership on a number of TS units. The Association currently owns 45 TS weeks. More recent Boards have stopped the policy of taking back TS weeks and in the last 4 – 5 years the Boards have taken more aggressive action to collect past due fees by taking owners to Small Claims Court for amounts of $5,000. or less.

Election Results: Debra Wheeler reported that as the Board Secretary she had personally audited the Board election results on September 30,2021. This election had an excellent owner response with a high number of ballots returned. Karen Lytle and Paul Goldsberry were reelected to the Board for a new three year term.

President Lytle thanked everyone for attending the meeting via Zoom and the meeting was adjourned at 12:30 PM.

Respectfully Submitted

Debra Wheeler, Secretary/Treasurer