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https://lakevale.org/wp-content/uploads/sites/154/2021/12/character-illustration-of-people-with-vote-icons-vector-scaled.jpg 1862 2560 Acct: Erickson https://lakevale.org/wp-content/uploads/sites/154/2021/11/Lakevale-logo-and-name-156-300x90.png Acct: Erickson2022-02-02 08:47:512022-02-02 08:48:06Budget Ballot – Voting Open!
It is time for Members to vote on the 2022 budget. At the December 14, 2021 meeting, the Lakevale Board approved the proposed 2022 budget for a membership vote. The proposal recommends maintaining our dues at the current level.
The proposed budget and funding levels have been prepared in the context of the latest five-year Capital Reserve Study, prepared by consultants Mason & Mason. The reserve study, legally required by Virginia Law, serves as our fiscal polestar. The proposed budget and projected funding levels will enable us to continue to put sufficient funds aside for future years as recommended by Mason & Mason.
The budget approved by the Board foresees normal operational spending in 2022 and incorporates the continued effects of the pandemic, high inflation, and increases in the minimum wage that impact our pool management contract. It also reflects the member-approved pool renovation project and associated loan. The 2022 Proposed Budget and the Mason & Mason Capital Reserve Study are also posted at Lakevale.org.
Voting Instructions for Homeowners:
1. Log on to the Lakevale website Lakevale.org. Your login credentials are the same as those used to login to Member Splash.
2. Next, click this link to vote: 2022 Proposed Budget Ballot. If you are logged in, you will be directed to the “2022 Budget Proxy/Ballot”. If you aren’t taken directly to the form, you can also find the form under the “Events” menu on the home page.
3. Your lot number can be found in the yellow printed directory.
4. After voting, click the submit button at the bottom.
A quorum of 142 votes is necessary to decide the proposed budget. Approval by a majority of such quorum is required to pass the budget. Each household may only cast one ballot. Please vote on all three items, which are separate questions mandated by Section 6 of the bylaws: (1) yes or no on the recommended annual charge, (2) yes or no on the recommended annual fee, and (3) yes or no on including the annual fee in the annual charge.
The Annual Assessment Meeting of Members is scheduled to take place at the clubhouse at 7:30 p.m. on February 8 where the budget votes will be counted. The deadline to vote on-line is February 7th at 11:59pm. Members may also vote in person with a printed ballot or change their vote at the meeting. Members without internet/email access will be contacted separately.