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Lenox Park
Welcome to Lenox Park of Novi, Michigan
Today Is...
January 20, 2019
Today's Holiday:  World Snow Day
This day in history:  1993 - Actress Audrey Hepburn dies
Click on the holiday and history links for more information.

Budget Bits - January
Posted on Jan 16th, 2019

by  Mike Bossio, Treasurer

The Operating Budget at the end of the 2018 year closed strong with a balance of $163,095.55. The Reserve Fund (RF) total increased to $763,244.01. We are very pleased with these results as we will start 2019 in a very good financial position. The budget clearly performed as expected.

I indicated that if the budget continued to perform as it had all year, I would recommend to the Board to transfer some money to the RF. That discussion is ongoing. Before we can make any transfer, we will have to make sure we understand all of the future 2019 spending requirements. For example, the rust on our concrete continues to be a major concern and we are investigating methods to get rid of the rust and to keep it off. We will inform you of our efforts through the Website as this investigation matures and we have a better understanding of the efficacy of the method to be used and its cost to the community. More later. That’s it for now. I will continue to keep you apprised of our performance on a monthly basis.

Board Bits - December
Posted on Dec 5th, 2018
This month’s Board Bits will have a somewhat different format. Rather than the usual prose format, I will use the bullet format. For this month’s Bits, bullets serve a more clear and concise purpose. As such, please note:
  • The 2019 Lenox Park Community budget is complete and approved. It will be coming your way soon.
  • The monthly assessment remains at $285; i.e., no increase over 2018.
  • The monthly deposit into the Reserve Fund (RF) is $13,133.
  • Total yearly RF deposit is $157,596
  • The target RF compliance with the Reserve Advisors recommendation is 90%. This is an increase over the 2018 target of 80%
  • The rust removal activity next year will include the entire community. The 2018 activity fell short of this goal for numerous reasons.
  • We hope to make significant progress in developing a 10-year shrub/tree plan for the community. This includes removal and replacement planning.
That’s it. I hope this format worked for you.

   Upcoming Events   
LP January Dinner
Wednesday, January 23rd, 6:00PM
Location:  Peterlins Restaurant & Bar
22004 Farmington Rd, Farmington, MI 48336
Respond by 1-16-19 to:
Judy/Phil Arnold - jammer3501@aol.com or 248-859-4850
Full menu with separate checks
For more information:

None listed at this time.