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November 2019

Neighbors, 

I have a lot to say in this message and it happens to have some important dates and information, so please sit back in your cozy chair with a warm cup of your favorite beverage and take time to read this message. 

First, I want to take a little time to explain our finances – let’s call it Finance 101. I don’t think everyone understands that the IBIC has “three buckets” that we work from. 

The first bucket is the Money Market account at Kitsap Bank that we earmark as our EMERGENCY FUND. It has, as of the end of October $117,702 in it, of which $100,000 is earmarked for emergencies. Our emergency fund is setup to approximate one year of our annual operating budget and is to be used for emergencies. Emergencies are things like a tree falling on the roof of the clubhouse or pavilion, fires in any IBIC structures, broken pipes causing flooding, or anything that we’re completely unprepared for, just like in your own home. 

The second bucket is our new GENERATIONS FUND and it is used to maintain the long-term capital improvements of the IBIC structures and facilities. You might say, “I have never heard of this fund.” This could be true, since it was created by the trustees just last year, but I plan to make it a point to explain how important this bucket is! Presently, out of the money market mentioned above, $17,702 is allocated to the Generations Fund. The Fund was created to allow the IBIC to identify capital maintenance and improvement projects that will be needed to maintain the important shared structures within our community. Some examples could be a new roof on the pavilion in eight years, security cameras and lighting around the clubhouse, or making our clubhouse bathrooms ADA compliant. Last year, we spent just under $9,000 on the Big Rock and Wilcox Stairs that were in jeopardy of collapsing or in need of repair. Below, I’m going to expound further on the the importance of the Generations Fund. 

Our last bucket is our OPERATING FUND, an account at Kitsap Bank with an October ending balance of $21,225. The operating budget is funded by dues and donations to help us to attend to the day in, day out operations of the IBIC properties and functions.

Imagine in ten years your children (and hopefully most of you) going to the clubhouse and finding a leaky roof, the floor worn and torn, sinks not working, and then going across the street to see Carolyn, setup under a blue tarp selling soup and baked goods. Imagine having no access to the beach because all of the stairs are dilapidated. Is this what we would want to see? I know, I am being a little extreme, but the idea behind the GENERATIONS FUND is to put contributions aside each year to cover large capital expenditures necessary to maintain for future generations the infrastructure and beauty that we presently have and enjoy. If we do this, then we will have done a great job. In our membership drive and every Breeze you will be seeing a Generations Fund request to give to this very important fund. Most recently, the young mothers of Indianola have come forward and requested that the IBIC help them update the children’s playground behind the clubhouse. We have started to design a layout and to capture the cost of reviving this very tired play area. This is a perfect example of why donating to the Generations Fund is important. This year I’m setting a goal of $50,000 to get us set up to cover such expenses. I hope that when the forms arrive that you will think generously!

Done with your first warm beverage? Go refill – there is more to come. I really feel it is important to have transparency in what the trustees are planning and I want to have community input and feedback, so I would like to announce that Tuesday, December 10th at 6:00 pm we will be having our first Town Hall. The meeting will focus on a presentation by our Solar Committee. We will also begin taking in the funds pledged to the Solar Project, so please bring your wallet. Also, in the same meeting, we’ll have an update on where we are on security. For those who attended the security meeting in June, this is an important update to that meeting.

On Saturday, January 4th, 2020 at 1:00pm we will have a second Town Hall to address our proposed budget and additional security topics, as well as other club planning. We will post these important dates on the Facebook page and if you are unable to attend, we will ensure that copious notes are taken and printed in the January Breeze.

Last topic, and I know you’re looking at the bottom of your second beverage cup, but I would like to ask for two individuals in the community to volunteer to help coordinate fundraising activities. The will involve coordinating fundraising events – setting up the events, and creating new and exciting activities that will bring our community together and also generate revenue for our club. If you have event planning experience and want to get creative in getting our great community together, PLEASE call or email me.

I’d like to close by wishing everyone a very happy Thanksgiving and acknowledging the importance of family and friends getting together. We are blessed to live in a strong community, as we recently observed through the love and support we came together to extend to one our Indianola families. Please support our community through your membership and giving to the Generation Fund. I look forward to seeing everyone before the close of this year, as well as at the beginning of the new year.

Don Lantz, IBIC President 2019-2020

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