2022 Annual Meeting Minutes

continued from page 23

• July 4th, 2022: Was a beautiful day. Fireworks by John Matalone were spectacular. Thank you to all the volunteers, you all make a great difference.

• Sumac weed on SLC dam was sprayed and eliminated Sept 2022. The area will be burned off in the Spring and sprayed again.

• Boat Ramp was replaced in Nov 2022. New reinforced concrete was installed 60 foot long 25 foot wide. Work was completed by Reece Construction.

• LQEC soil sampling Nov 2022: Soil was collected from 50 yards and sent to KSU for analysis

• 11-1-2022 the primary spill tube grille was installed. The grille will prevent fish from washing out of lake during high water.

• No Goose Round Up this year. The order came from the Ks Dept of Wildlife due to the bird flu epidemic.

• Beavers were trapped in the spring 2022. They were causing damage to SLC property. Thank you, Joe Purdum, for your help.

• The county sewer line backed up on the Aylesbury/Chelmsford cove 4-1-22, this was caused by Towelettes in pipe No serious harm was done to the lake.

• The split rail fence around the auxiliary spillway was repaired by Henderson Fence. {Jan 20222}

• Repairs to the Marina: In Aug/Sept 2022 the Marina perimeter and dock lighting was repaired. Also, 136 deck boards were replaced on the Marina dock.

• Aug 2022 the Beach Pavilion posts were replaced.

• The Clubhouse, Beach, Volleyball Court, and Marina trees were all trimmed in Aug 2022.

• Sherwood Lake was RED FLAGGED for 10 plus days due to record rain fall in May 2022

• No wake red light indicator was replaced in May 2022 on the east end of dam

• Spring Clean Up was a success on 4-23-22. Thank you to the over 30 volunteers.

• The underwater stump in the SW cove was finally removed in June 2022. That stump had been a boating hazard for over 40 years.

• Tracy Lynch, the new SLC grounds keeper was hired in the fall of 2022. Tod Longstaff the previous grounds keeper retired.

• In 2023 the repairs are scheduled for the Club House roof, windows, and carpeting.

• The Lake Patrol hours were adjusted in the summer of 2022 The Patrol was “On Call” only at the boat ramp Monday through Friday during the morning or AM shift. The LP was on full time duty all evenings, (the PM shift) and all day on weekends The LP was also awarded a raise from $10.00 to $13.00 per hour in 2022

Summer 2022 Lake Patrol report:

• 14 Boats retrievals: 5 paddle boats, 7 kayaks.

• 11 ski tubes retrieved and returned to owners.

• 17 boats towed.

• 10 boats needing gas.

5 dock section retrieved and returned to owner.

44 people asked to leave beach (nonmembers).

20 individuals fishing off the dam and 27 at the Marina (all asked to leave because they were nonmembers).

1 air balloon asked not to dunk basket into our lake. Zebra Mussel fears. Beach sand ranked 102 times.

7 boats removed for the season thus far.

“No Wake Buoys” repositioned 11 times over the season. Mid October will remove 31 “No Wake Buoys” and 5 sail club buoys.

IV. Financial Reports

Jo Hunt presented the Sherwood Lake Club financial report for Fiscal Year End 2022

Thank you to Joe Anderson, the lake club office manager, who handles the day-to-day financial operations, plus much more.

Balance Sheet – Highlights

- Cash Balance increased by $76,853. Balance at December 31, 2022 was $273,384 as compared to $196,531 at the previous year end.

- Accounts Receivable at the end of the year was $5,521 with 99% of receivables being current Non-current invoices are expected to be paid with 2023 dues.

- Fixed Assets increased $45,014 this past year due to installation of the new boat ramp. The increase was offset by depreciation of our assets and the sale of the dredging equipment.

- The Line of Credit, held at Kaw Valley Bank, remained at a $0 during all of 2022. We did not have a need to draw on those funds. The line of credit expires in July, 2023 and is expected to be renewed to provide financial flexibility

- Current liabilities increased $20,285 from 2021’s balance. The increase is due to Covid funds received after the insurance/dam assessment had been determined. These funds are held in unearned income to be used in 2023.

Income Statement – Highlights

- Our Revenue for 2022 was $360,410, a decrease of $28,930, mainly due to lower turnover of houses and new member fees .

- Total Expenses were $341,876, a decrease of $13,320, mainly due to lower depreciation, capital items, and lake and dam maintenance. The decrease was offset by increased payroll costs.

- Net Income for Fiscal Year 2022 was $78,322. This is higher than normal due to gain on the sale of the dredging equipment.

Invoices for 2023

- Invoices were sent out earlier in the month. They are due by 2/21/23. Late fees will be assessed to outstanding invoices after 2/21/23

- Paying online through QuickBooks is easy and convenient and has resulted in lower accounts receivable and late fees assessed. Thank you for that. However, SLC pays fees on these transactions so, if it is convenient for you, we encourage members to pay by check or Venmo to avoid these fees.

2023 Budget

-The 2023 Budget was approved by the board at the November 2022 meeting.

Revenues are budgeted at $363,400

Expenses are budgeted at 360,150

For a budgeted Net Income of $3,250

This concludes my report.

Aline Barrett made a motion to approve the 2022 Treasurer’s Report Kerry O’Neal seconded. Motion carried.

V.

Director’s Reports

• Kevin Beck - Dam/Lake Environment/Fishery continued on page 26

It has been a pleasure to serve the Sherwood Lake Club members and residents over the last year. There was a lot of activity on and around the lake in 2021 outside of the recreational activities we all enjoy. Please see my summary of activities below.