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Board of Directors Meeting Report
from Wednesday, June 22, 2022
The Board of Directors conducts their monthly meeting in-person at the newly renovated AFC lower level. The meetings can also be attended by virtual means.
Action items from this week's meeting:
Transfer of Funds
The Board authorized the transfer of $35,000 from the Operating Account to the Reserve Cash Account. This is for the June 2022 monthly accrued contribution.
Add Treasurer Grove as an Agent for the SRC Project Loan
The Board formally replaced the prior Treasurer, Mr. Bob Sampson, with the current Treasurer, Mr. Howard Grove, as an Agent for securing advances on the loan with South State Bank for the Swim & Racquet Center Pool & Clubhouse Renewal Project.
Consideration of Formal Change of Nomenclature from “Club” to “Center”
The Board formally authorized changing the community’s nomenclature titles that we use for certain facilities. The Woodlake Swim & Racquet Club only exists on paper, it is not a separate legal entity. Rather, the facilities that make up the club are indeed a part of the Woodlake Community Association. As such, the Board already made various administrative changes to the many association policies and procedures related to the operation of the facilities.
The Board approved the following name/title changes: the Swim & Racquet Club (SRC) to become the Swim & Racquet Center (SRC); the Aquatics & Fitness Club (AFC) to become the Aquatics & Fitness Center (AFC); and, the Clubhouse at the SRC to become the Community Center. This action will provide Management the ability to take other administrative actions, including with regard to signage and changes in our communications.
Discussion – All Inclusive Access
The Board discussed the need for continued development of a plan to move to a more general access approach for use of the indoor pool, the fitness center, and to two hard-surface tennis courts. The intent of, the specific parameters for, and the financial impact of such general access being provided to all owners/residents should be a part of the development process for the FY2023 Budget.
Discussion – Budget Priorities for FY2023
The Board discussed priorities and guidelines for Management’s consideration during the development of the FY2023 operating and capital budgets. The high priority items will be the cost of the SRC Project; its impact on capital and replacement capital reserve availability for other projects; and the inflationary impact on all costs, particularly taking into account the economic labor impact on next year's part-time and seasonal employee payroll.
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