Next VVA Board Meeting:
Sunday, February 13, 2022 @ 6:30PM at the clubhouse.
All members in good standing are welcome and encouraged to attend. If you want on the agenda, you must notify the office on or before the Monday prior to the board meeting.
Lake Viking News
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VVA Board of Directors Monthly Meeting Call to Order Tony Gronniger, lot 2281, called the meeting to order, held in the upper level of the clubhouse at 6:30pm. Board Members present were: Troy Lesan, lot 576; Allan Slavin, lot 181; Marvin McNabb, lot 28; Mike Booth, lot 2380. Tony Gronniger led in prayer. Cathy Poindexter led the Pledge of Allegiance. Prior to the regular business of today’s meeting, Conservation Agents Jason Braunecker and Jaycob O’Hara were present to introduce themselves. Jaycob is the new Conservation Agent of Daviess County. Tony Gronniger read the Vision/Mission Statement and a Parameter of the Viking Valley Association. Approval of Minutes Allan Slavin moved to approve the minutes of the December Board meeting. Marvin McNabb seconded; motion passed. COMMITTEE REPORTS: Handbook Committee – no report Finance Committee Troy Lesan reported the meeting was held via Teams Microsoft virtual format, and called to order by John Kmetz (Chair) on Jan. 6 th @ at 5:00pm with 8 attendees present. • New committee member: The Committee voted to recommend adding Terry Nibarger. Terry has a strong 32-year background in the financial sector as a Personal Financial Planner and Manager of the Chillicothe office of Raymond James. Motion was made to add Terry Nibarger to the Finance Committee; motion passed. • 2021 year-end Financial Statements: Despite a large projected budget deficit of over $300,000, VVA finished in the black. This is because several large expenses (silt basin and special lake) were considerably under-budget, and income from Building Permit fees, Community Area sales and even special assessments were up. So after a year in which VVA paid over $100,000 expense for capital gains tax, $350,000 in silt basin expense, and $78,000 expense for a new Safety Boat, to show ANY income is remarkable! • 2022 proposed budget: Meanwhile, 2022 becomes the year we are sure to have a year-end deficit projected at a $210,000 deficit. This is due to capital gains taxes again (on sale of Community Areas in ’21 w/ taxes on it due April ‘22)--this time without the offsetting benefit of additional Community Area sales in the tax year (’22). Plus, we will also be incurring more large expenses in the final Phase 2 construction of the silt basin. This projected deficit
TOWN HALL MEETING The Dredge and Finance Committees will be having an online Town Hall Meeting on Saturday, February 19, at 2 PM. The meeting will be held on ZOOM. Watch for more details on the log-in process.
January 2022
Volume 34, No. 9
January 9, 2022
is the reason that we built up our funds with a record income year in 2020. Even after these expenses in 2022 and the resulting deficit, we will still project a strong balance in our funds summary. The 2022 budget has been included in the Board packets. Motion was made for the Board to present this proposed 2022 budget @ the Annual Meeting; motion passed. • Town Hall meeting is scheduled for Sat., Feb 19 @ 2:00pm, to be held on-line via Zoom. • Suggested change on late fees: In order to reduce VVA’s unusually high # of late-payments on dues and assessments—some late by many months—the Finance Committee recommends that the Board consider the following potential change to Handbook pg. 8 under “Non-Payment Penalties”: change the current $20 late fee at 10 days to $25 at 15 days; add at 45 days late an additional $80 late fee, then after 60 days late the current 1.0% interest would change to 1.5% interest per month to begin accruing. The rest of the rule would remain the same. This is the Finance Committee’s recommendation, to start the process of pre-approval. Then since this is a By-Law, any approved change would be proposed for vote at the Annual Meeting in March. So this is not for the Board to act on or vote on tonight, as all By-Law changes must be voted on by the membership @ Annual Meeting in March. Strategic Planning Committee – no report Continued on page 5
MARK YOUR CALENDAR!
ANNUAL MEETING March 6, 2022 The Viking Valley Association Annual Meeting will be held March 6, 2022 at 2:00 p.m. in the upper level of the clubhouse.
In order to attend the meeting, each person must be an Active Member in good standing. EACH PERSON MUST have their 2021 Membership Card with them to be admitted to the meeting. This is the only verification we have during registration that you are a paid member in good standing. A valid driver's license may also be required to validate identification. As stated in the Viking Valley Association By-laws, Article I and Article II, Renters and Associate Members are not entitled to receive notice of any meeting, to vote, or to participate therein. Only “Active Members in Good Standing” (record owner of a lot or tract of land located in Valkyrie Valley Subdivision) are eligible to attend and participate in the meeting.
Please remember: EACH PERSON MUST HAVE THEIR 2021 MEMBERSHIP CARD IN ORDER TO BE ADMITTED TO THE MEETING!