Fall 2007
Through the summer, I have been working on a "Reserves Fund" for the association. The purpose of this fund is to develop a living list of items that will require major funding in the future. After developing a list, we can then decide when and how much money is required by estimating the useful life, remaining life and cost of each item. Our current budget includes a small amount of money for future issues, but falls short of actually listing items and determining their cost and timing. Expensive items like the weed harvester, dump truck and storage shed replacement, lake dredging, parking lot replacement at our parks, and several other items are being listed, cost analyzed and planned for future funding and implementation. This "Reserves Fund" becomes our plan to handle these inevitable major concerns in Lake Somerset's future. I hope to have it completed before the annual meeting so I can discuss it with the association members in more detail and put it into next year's budget. The association owes Jim MacRitchie a big thanks for bringing this concept to our attention and helping us get it into our process!
Also this summer, I have given additional thought to our semi-annual "moving of the monster," which is the insertion and extraction of the weed harvester. My winter improvements made it better this spring, but still far from what I had envisioned. We have made some additional improvements to the moving system and prior to this fall's extraction, I will be testing those changes to be sure we minimize the engineering surprises...but rest assured, I will not give up and the monster shall be tamed! Thanks to Dennis Glasgow for building steering rod extensions for my new rigging rollers that guide the monster in and out of the deep.
I hope everyone had a great summer!
Jim Compton
Vice President
No events are scheduled.