Easement Budget Meeting Vote Results

Upper Greenwood Lake



Question 1 of 4: Renaming of the Stump Sinking Fund

EXPLANATION: The Easement has reserved funds that are known as “sinking funds” that were
deemed necessary by the Easement holders in order to fund future projects or some other specific
The naming of these funds ensures that the money that goes into them is reserved exclusively for
its named purpose. Sometimes, these funds require a renaming that allows for the funds to be
further used for additional purposes beyond the original title.
One of these funds is the “Stump Sinking Fund.” The obvious purpose of this fund was the large
endeavor of removing stumps from the lake.
In recent years, the amount of dead trees due to disease and pests has greatly increased. The
amount of needed tree removal is extensive and requires additional funding in order to manage.
Because the resources needed for stump removal and tree removal are similar, the proposal is to
rename the “Stump Sinking Fund” to “Stump/Tree Removal Sinking Fund.”

Do you approve of the renaming of the “Stump Sinking Fund” to become the “Stump/Tree
Removal Sinking Fund”?

Question 2 of 4: Erosion Control Fund

EXPLANATION: The most important goals of the Easement are to protect and preserve the lake
and its Parklands for future generations to enjoy.
An ad hoc Bulkhead/Erosion Control Committee was developed to study the current condition of
the shoreline in regards to erosion and after studying the effects, the Committee deemed many
sections of shoreline to be heavily affected by erosion and in critical need of remediation.
The remediation will consist of work to reclaim land and to build bulkheads to provide long term
structural support to the shorelines.
The request you’re voting on is to approve a permanent funding mechanism that will help
address this issue into the future.

Do you approve the creation of a reserve account for the purposes of addressing shoreline
erosion that shall be titled “Erosion Control Sinking Fund”?

Question 3 of 4: Interest Usage

EXPLANATION: This question is contingent on the approval of an Erosion Control Sinking
The Easement has emergency reserves that are invested in several interest bearing accounts in
order to utilize FDIC protections.
The Easement holders have the right to fund items as they deem necessary and must give
permission for the money in its accounts to be utilized.
In preparation for a 2024-25 lake drawdown, it is recommended by the Board to use 2023’s
interest as startup funding for the Erosion Control Sinking Fund.

Do you approve of this interest being used to fund the Erosion Control Sinking Fund?

Question 4 of 4: Security Jet Ski Purchase

EXPLANATION: Currently, the jet ski that is used by Security is a personal jet ski and the fuel,
maintenance, registration and insurance is covered personally. The jet ski has proven to be
valuable as a second lake monitor, to get into the shallow parts of coves, and to assist in boat
The Board is recommending a one-time withdrawal of up to $4,000 from the General Fund in
order to purchase a used jet ski.

Do you approve of a one-time withdrawal of up to $4,000 from the General Fund in order
to purchase a used jet ski?