Provide business and financial management, and
sound financial practices and reviewing all financial data for LSEA so that the
committee can make recommendations to the BOD for the purpose of maintaining
the financial viability of LSEA.
Through financial management, maximize the assets
of Lake Sherwood consistent with the Long Range Plan to benefit all owners as
they use our assets for recreation purposes improving their quality of life and
their property values.
Make decisions to:
• Create a safe and secure place to live.
• Be efficient in all operations and services.
•Communicate with clarity to be easily understood by our community.
• Improve property values.
• Maintain assets in good working order.
• Add / delete assets in accordance with the Long Range Plan.
• Make decisions on fiduciary responsibility which mean to act in the best interest of the whole community.
• Respect the natural environment
• Use the expertise of committees, and outside experts in making decisions & optimizing community resources.
1) Budget presented to the board by September 1 so it can be presented at annual meeting.
2) Create a capital budget and an operating budget.
3) Review Reserve Study and simplify reserve funding for easyunderstanding and administration.
4) Simplify budget for ease of communicating.
5) Create an initiative for expense control and cost reduction.
6) Evaluate revenue options.
7) Annual budget should include 5 year projection of a draft budget that includes a capital budget, operating budget, and assessment projections.