Fox Point Update: December 2021 Edition
- On December 7, 2021
President’s Letter
By Margaret Graff | Email
It has been a busy month for the FPHA Board.
Our Treasurer, Lynn Douglas led the board through a successful budgeting season. We held 2 board work sessions to determine operating and capital spending needs for the association in 2022. We also met with the Finance committee to get their input and guidance. From an operating budget standpoint, we are facing inflationary increases in several areas – including a significant increase in the cost of our pool management contract renewal. From a capital standpoint we are budgeting for 3 substantial projects: the monument wall restoration at the Valley Road entrances, Pool Repair needs (including replacing the broken heater and repainting the pool itself); ongoing lake maintenance treatments, and fish stocking. The cost of these items equates to more than 90% of the income the association will receive from annual assessments.
Thus, to balance the need to maintain Fox Point assets and saving for future financial needs of the association, the board is proposing a $100 increase in annual assessments per household.
We believe this is necessary to help bridge the gap between short-term expense needs and long-term planning needs — with a goal of avoiding a special assessment in the future.
For additional details and context behind the proposed 2022 budgets, please refer to Lynn’s Treasurer’s report. Or, please join us via zoom at the Annual Meeting of the Fox Point Homeowner’s Association on January 24th.
From a Nominating Committee standpoint, I’m happy to report that we have 3 candidates to fill 3 open board positions, Andrew Schwarz, Kyle Powal, and Bill Graff. We thank these neighbors for their interest in volunteering to help lead the association. You’ll see bios of these candidates in Steve Kipferl’s report.
Socially, Rena Slovick continues to lead the charge in planning activities. Don’t miss out on the Santa Visits and look for initial dates and information about 2022 activities in her report. As always, we are seeking volunteers to help spearhead fun and social events to support community life in Fox Point!
I consider it a privilege to call Fox Point home – and an honor to have served as FPHA Board President this year.
Please don’t hesitate to reach out to any of the board members or myself with your questions and ideas.
And as always, we welcome all homeowners to attend our monthly board meetings via Zoom. The next meeting is on December 20th.
ANNOUNCING YOUR
2022 FOX POINT HOMEOWNERS’ ASSOCIATION
BOARD MEMBER NOMINEES
Andrew Schwarz – Lake County
“Hi neighbors, I’m pleased to be running for the Fox Point Homeowners Association Board. In 2019 when my wife Kristin and I were searching for the ideal place to raise a family in the NW Suburbs, it was hard to find a neighborhood that both embraced the outdoors and offered a close sense of community. In Fox Point, we found both, and it would be my mission to preserve and enhance these ideals if elected to the Board.
I’ve since come to learn that there’s lots more to love about our neighborhood than its natural beauty and camaraderie. It’s dynamic and diverse, rooted but modern, stable yet evolving – and I think we collectively share the goal to keep it that way. Doing so requires continual attention and investment, but of course, that is challenging in a world that’s constrained by time and budgets. Fortunately, my profession of leading a small procurement team for a Fortune 100 company focuses on helping business groups manage similar management challenges, and I’ll put that methodology to work for Fox Point.
My family and I are very close, and we enjoy raising my little girls Luella (4) and Olise (~2). Together we love walks to the boat docks, reading books, playing in the yard, and acting out the movie “Frozen” dozens of times. If I can spare the time, I enjoy a variety of outdoor activities including hiking, golf, and aviation.
It would be a great opportunity to join the HOA Board to help improve our community and grow closer to my neighbors. Thanks for your consideration.”
Kyle Powal – Lake County
Hi Neighbors! My name is Kyle Powal and my family and I moved into Fox Point in 2015 after moving from Dallas, TX. I grew up on the other side of the Cuba Marsh, right behind the Braemar neighborhood, and my wife, Kristin, is from Cherry Valley, IL. We have three wonderful children, ages 6, 4, and 2.
We absolutely love Fox Point and our proof is that we have lived in three homes since joining the community six years ago! We spend as much time at the pool as possible and use the playground often. Our Daughter joined the swim team last year and loved it! We also have a paddle boat that we store on the boat racks and I enjoy taking the kids around the island.
Professionally, I work in Chicago and I am Senior Director of Underwriting and Production at Markel Corporation. I have an incredible team of 16 underwriters and support staff and we focus on commercial general liability insurance for large to medium-sized companies. I have been in the commercial insurance industry for nearly twenty years in a variety of roles and responsibilities.
We love all the wonderful families we have connected with over the years and we look forward to getting to know all our neighbors better and represent our common interests. My family and I are fully committed to Fox Point as we feel it is the perfect neighborhood to raise a family and I am hoping to volunteer my time to help make it even better!
Bill Graff – Cook County
My name is Bill Graff and I have been a resident of Barrington Illinois since 1989. My wife Margaret, and I began our lives in Barrington as newlyweds, then did a stint in the city, Glenview, and back to Barrington to lay down our roots! We have been a neighbor, and resident, of Fox Point since 2006 and have the joy of one son, Will, who has grown up in Fox Point. It is just that reason, our son, why I am interested in working on the board. This community has given our family a solid foundation to build a family and traditions here in FP and coupled with the fine people that we can call friends and neighbors, I felt it was time to give back to a community that has given so much to my clan.
I have had the opportunity to be a servant leader in 60010 since 1989 working on behalf of BACOA, The Hospice of Northeastern Illinois (now Journey Care), Rotary, various Barrington Youth Sports Teams, and for the St. Anne Catholic Community and on behalf of its Parish School. From front-line volunteering to leadership roles, I have enjoyed giving back and am a firm believer to whom much is given, much is expected! These philanthropic roles have helped shape me to see the value of our zip code and its residents/neighbors.
As for my career, 19 years to date, I am the Entertainment Brand Manager for the Walt Disney Company with a focus on leading the advertising sales division of National Geographic (owned by the Walt Disney Company). This career, and the brands that I get to represent, have been the other joy in my life!
Treasurer’s Report
By Lynn Douglas | Email
PROPOSED 2022 BUDGET
The proposed 2022 Budget is the framework of an intention to spend, and consists of 3 components:
- Operating- These are recurring annual expenses to support the daily/seasonal operations.
- Capital Reserves. These are monies that represent the approximate depreciation of common assets, over time, set aside for future major cyclical maintenance expenses, major repairs, restoration, and replacement of assets.
- Annual Assessment- Each owner’s equal share of Operating Expenses and allocation to Capital Reserves which approximates the annual deterioration (depreciation) of all hard assets and funding towards the health of the Lake, Creek, and Pond assets.
Proposed 2022 Operating Budget- $224,000
There are 5 components within the Operating Budget: Administration, Pool, Lake Management, Tennis, and Common Grounds. Within these components Insurance, Professional Pool Management and Landscaping are the most significant expenses. Inflation has an impact on the cost of services. After evaluating alternative contractors, we renewed our multi-year professional Pool Management contract with an increase of 20%, attributed to increased labor and chemical costs, while striving to maintain costs in other areas.
Proposed 2022 Capital Expenditures- $395,000
There are several projects planned for 2022:
- Masonry Wall Restoration- $250,000. The masonry walls along north and south Lake-Cook Road are original- 55 years old, and in varying stages of deterioration. This includes the below-grade foundation in some areas attributed to tree/shrub roots and inadequate drainage.
- Pool Heater/Ventilation- $50,000. Commercial pool heaters have a projected useful life of 7-10 years. At 7 years old, our pool heater is no longer functioning and requires replacement. We intend to increase ventilation of the mechanical area to increase the useful life of the new heater.
- Pool Surface Refinishing/Painting-$30,000. Pool surfaces require resurfacing/repainting every 7-10 years. Depending on wear and tear in 2022, we anticipate resurfacing/repainting the main pool after the conclusion of the 2022 pool season.
- Phoslock Treatment- $36,000. We remain in the early phase of restoring the overall health of Lake Louise. While phosphorus is an essential element for plant life, too much phosphorus can speed up algae bloom and unpleasant odors, common in lakes throughout the world. This multi-year treatment is intended to reduce excess phosphorus, common in lawn fertilizers that drain into the lake.
- Dead Tree Removal-$11,000.
- Fish Restocking- $7500.
- Refresh Website – $4500. This is an update of the landing page and creation of an owner’s login to eventually enable the Directory to be put online and enable online voting.
- Updated Reserve Study- $4000. This is an update to the 2017 Reserve Study, a critical long-term capital planning tool that identifies the status of reserves to offset the ongoing deterioration of assets. All above-grade hard assets are inspected to determine the rate of deterioration and projected costs of major maintenance, repairs, restoration, and replacement when it becomes necessary.
- Pickleball Court- $2000. This will be accomplished by color-coding one of the existing tennis courts.
Proposed 2022 Annual Assessment- $1,175
The Annual Assessment funds the Operating budget, Capital expenditures, and depreciation of assets over time so that there are adequate funds available to take care of business when it becomes necessary to do so. In 2022, we intend to allocate the annual Assessment as follows:
46.4%- Operating Expenses
53.6%- Capital Reserves
For 51 years, FPHA has maintained one overall financial goal – AVOIDANCE OF DEBT and thus avoiding the need to impose Special Assessments to all owners.
We have invested nearly $2.7 million into capital projects (replacement of 50-year-old Pool, Tennis Courts and major, top to bottom, renovation of the Pool House, etc.) over the past 6 years and intend to invest an additional $395,000 in 2022. And we have done so without incurring debt/ imposing a Special Assessment because our Capital Reserves have been adequate to take care of business.
To avoid debt, the value of an HOA’s Capital Reserve needs to be tied to its future liabilities. We have 30 high-level common assets with hundreds of moving parts behind them. Sooner or later, everything wears out and requires restoration or replacement. The allocation from the Annual Assessment to Capital Reserves should approximate the annual rate of depreciation of all assets. Inflation is also a factor in restoration and replacement costs.
The Lake/Pond /Creek has been on the back burner while restoration /replacement of many major hard assets occurred. We are committed to restoring the health of the lake, going forward.
The 2022 calendar year Annual Assessment will be invoiced in late February and is due March 31, 2022.
2023 and Beyond
State law requires us to project capital expenses and disclose whether borrowing funds/imposing a Special Assessment is contemplated two years into the future.
Our projections follow the Proposed 2022 Budget and include replacement of 3,020 linear feet of wood fences along the north and south side of Lake- Cook Road and replacement of 5000 square feet of asphalt in the pool parking lot and boat dock area.
For 51 years, FPHA has maintained one overall financial goal – AVOIDANCE OF DEBT and thus avoiding the need to impose Special Assessments to all owners and remains fully committed to this goal.
Social
By Rena Slovick | Email
Santa Visits!!
Neighbors have no fear. Santa is not passing over Fox Point this year. He will be visiting Fox Point on Sunday, December 12th for a fun, old-fashioned Christmas. Santa will be returning to us curbside at the Fox Point Pool House from 12 noon – 3 pm, in his one-of-a-kind, decorated house complete with an indoor fireplace to keep guests jolly and warm! Children can visit with Santa, get their last-minute requests in, and Mom and Dad can snap that classic, crying child pic.
To ensure Santa remains healthy to deliver presents this holiday season, Santa’s house is set up for proper social distancing and sanitation protocols. There is a limit of 6 family members in the hut at one time, limited to 15 minutes. No exceptions. Masks are required on everyone above 2 years old while inside the hut and must be worn at all times except while taking photos with Santa**
This event is rain/snow or shine and is NON-REFUNDABLE.
There are two, 1.5-hour windows to keep visits with Santa fluid – there are no specific time slots like last year. Grandparents are welcome to schedule visits with their grandchildren. When you RSVP, please list the names/ages of your children in the comment field.
ONLY REGISTER ONE SLOT PER FAMILY!
The cost for this event is:
- 1-2 children in a family – $10
- 3-4 children in a family – $15
- 5 + children in a family – $20
Sign up today HERE
**subject to change based on health department guidance
Christmas Eve Luminaries
The deadline for Christmas Eve Luminaries was November 30th. Pick up will be from 1-3 pm at the pool house during Santa Visits. We’ll light these bad boys up on Christmas Eve! Please reach out to the Luminary Committee if you have any questions!
Fox Point Ladies Holiday Party
Grab all your neighborhood “Gal-entines” and keep your eyes peeled for details on the Ladies Holiday Party happening sometime in February.
