Annual Report and Year-End Financials

October 1, 2017 - September 30, 2018

General Overview: We had a great season last year with a full slate of activities. The membership BBQ was well attended. The water carnival was very popular and fun. We had Bingo, star shows, swim lessons and ended the season with our Survivor’s party. Lake attendance figures were strong. A high rate to home sales and membership transfers added to the reserve fund. Your Board of Directors and staff work hard to manage the lake and provide a great lake experience for the members.

Lake sediment removal has been delayed due to additional unforeseen requirements requested from the Army Corp of Engineers, which will require more time and money. In order to place the removed sediment, we need to submit a cultural resources study for area surrounding the lake, and a wetlands delineation study for both the project area and sediment disposal location. All studies must be completed before the permits for sediment removal are finalized and granted. We are working to obtain bids for these studies and will be reviewing them and moving forward. We still hope to be able to start the project this fall. We plan to have more information and definitive answers in time for our Annual Meeting in July.

Water Quality continues to be one of our top priorities. The Lake Association has contracted with the local company The Lake Doctors. They will provide monthly monitoring of water quality and lake water treatment as necessary. They will also be installing an aeration system which will de-stratify the water and add oxygen. This will create a healthier water system and reduce the buildup of organic material on the bottom of the lake.

Financial Reports: The attached comparative Balance Sheet and Profit and Loss Statement that constitutes our financial report to members for the 2017/2018 year. They were prepared by Patrick Weseloh, Twain Harte Lake Association Treasurer, and reviewed by Carlson, Haff and Associates Certified Public Accountants. The signature of the Treasurer at the conclusion of this document verifies that the reports constitute a fair representation of the financial activity of the Lake Association for 2017/2018 year. Please note the following:

• The Balance Sheet reflects normal operating activity for the prior year. 2019 will be the last year of payments for the 2015 Special Assessment for those that chose the 5 year payment plan.

• The Profit and Loss Statement shows income of $632,234.87 and expenses of $413,055.14 with net income of $219,179.73 most of which will be added to reserves to help fund future major expenses. The increase in income can be attributed to robust house sales and an increase in renter income even with a reduction in the cost of the fees.

Patrick Weseloh, Treasurer

Hal Roper, President

BALANCE SHEET

PROFIT & LOSS STATEMENT

Letter from Your Lake Director

Happy New Year Lake Family! I hope this finds you well. We have started to look forward to our 2019 Season and are excited and ready for a full & fun summer. We will be continuing our traditions with our Annual meeting and membership BBQ on July 6, our free swim lessons the second two weeks in July, our Water Carnival the first Saturday in August, and our Snack Shack will be hosting some fun dinners and bands throughout the summer.

• It is time to pay your annual membership dues – an invoice and return envelope is enclosed in this mailing. A second item may be listed on your invoice for those who are on the Special Assessment payment plan. Payment is due upon receipt and must be paid no later than May 1st. Please send your check as soon as you can.

• We are working towards a paperless newsletter system for our members. Please include your email on your invoice in the space provided to help us cut down on paper and mailing costs for our future. All invoices and ballots will continue to be sent as hard copies by mail.

• We will have a fantastic returning lifeguard staff this year, but are always looking for additional motivated and hardworking lifeguards and swim lesson instructors. If you know anyone who wants to be a lifeguard at Twain Harte Lake this summer, please have them contact us by email at thlake@sbcglobal.net or phone 209-586-9162

• We are always looking for volunteers to help with both the Annual Membership BBQ (Saturday July 7) and the Water Carnival (Sat. August 4th) and continue to look for anyone interested in becoming a Twain Harte Lake Board Member. If you would like to help in any of these areas, please drop us a note at thlake@sbcglobal.net.

Lauren Gerber, Lake Director