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Twin Lakes HOA approves reserve transfer, CDAR purchases and payments for Ponce bridge
Summary
At its Dec. 17 meeting the Twin Lakes Homeowners Association approved a $19,000 transfer from reserves to operations to pay for the recently completed Ponce bridge and authorized two $50,000 CDAR purchases; the board also heard that security and non-contracted park maintenance are over budget.
The Twin Lakes Homeowners Association board on Dec. 17 approved a $19,000 transfer from the reserve fund into operations to pay for the recently completed Ponce bridge and authorized two $50,000 Certificate of Deposit Account Registry (CDAR) purchases, the board reported.
Treasurer Greg Glazner presented year-to-date budget numbers and said security costs are $18,602 over budget and non-contracted park maintenance is $13,560 over budget as of Nov. 30. Glazner told the board the security overrun has been affected by recent Washington state legislation and that storm cleanup contributed to park-maintenance costs.
Glazner moved the $19,000 reserve-to-operations transfer to cover Ponce bridge expenses; Tim Walls seconded the motion and the board voted with no opposition. The board also approved a $50,000 CDAR purchase funded from operating funds moved to capital funds (motion by Craig Brown; second by Greg Glazner) and a separate $50,000 CDAR purchase from the reserve cash fund into the Reserve fund (motion by Craig Brown; second by Greg Glazner). Both CDAR motions passed unanimously.
Board members discussed 52 homeowner accounts that each owe less than $50 (a collective $1,030). The board decided to rebill each account and deferred any further consideration of write-offs for up to 60 days.
The board approved the November minutes earlier in the meeting (motion by Ray Faccenda, second by Craig Brown). The board is scheduled to meet next on Jan. 21, 2026, at 6:30 p.m. at the HOA office.
