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President’s Message (Continued)

2008 YTD Update (Continued)

Operational Expenses: (i) We have been doing a good job in controlling our costs for the first quarter of the year and are tracking nicely to our original 2008 budget forecast, (ii) Working together, the team of Terry Martin, fellow board member Gary Gates and myself have, with full BOD approval, removed our LVPOA employees' Catastrophic Insurance and other financial incentives and replaced them with a 401(k) retirement plan and a Health Savings Account (HSA) in which all permanent full time employees may participate.  Providing excellent, cost effective employee benefits like these have been very well received. Actually, by making these moves, we have provided real benefits to our employees for less cost to The Association, (iii) We sold an excess marina attenuator to Point Venture POA for the sum of $55 K, taking these funds to reduce our Marina debt by the same amount.

Miscellaneous Projects: I’m pleased to report our 2008 board members have been  working for the past few months with LVPOA staff members on a number of projects, some of which have already been successfully completed:  (i) Our VP Ginger Halsted and our Facilities Manager Rick Hanley have done a wonderful job in updating and refurnishing the meeting rooms in both the K- Oaks and Activity Center, (ii) the same team has also been responsible for the Phase I refurbishment of the Bar-K facility which as you’ll remember was badly damaged by last year’s floods, (iii) Thanks to the efforts of our Parks & Marina Manager Gregg Evans, we began deploying our custom made trash receptacles throughout our parks and at the entrances to our facilities, (iv)  As previously mentioned, “security” in our parks and facilities is an area where we continue to focus.  Drawing on the law enforcement expertise of our new board member Secretary Dave Shafford, along with our Treasurer Richard “Hoot” Gibson, they’ve conducted an in-depth review of all LVPOA security policies, procedures and staff responsibilities. In the immediate future, we’ll be discussing these findings with our BOD, our GM Terry Martin and his staff, (V) Terry Martin and his staff have done a stellar job in creating the “LVPOA Employees' Handbook" which has now been approved by the board. This important document outlines the terms, conditions and expectations of being an employee of the LVPOA. (VI) The LVPOA team of Ginger Halsted, Hoot Gibson, Terry Martin and myself continue to work with our counterparts from the Lago Vista City Council on a Memo of Agreement (MOA) to define the different areas where each entity provides service to the local residents in our community. We are hopeful this will be ratified by both organizations in the coming months.

NOTE: We encourage you to visit the LVPOA website located at http://www.lvpoa.org.  Here you can view all the latest information along with our brand new interactive, online calendar which shows all current reservations and events being held at LVPOA facilities. 

Respectfully submitted

Dave Freeman – LVPOA President

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