From the Board Room

From the Board Room
News - 1/15/2021
Following an annual review of the Lake Oswego Corporation’s budget and expenses by the finance committee, the Board of Directors has approved a 2.5% increase in annual assessments for 2021.

The Board is committed to (1) funding operating expenses, (2) keeping pace with inflation, (3) ensuring it does not defer facility and infrastructure repairs or maintenance, and (4) maintaining appropriate reserves for dredging and long-range capital infrastructure programs.

Some expenses have experienced higher than normal increases, including:
  • Benefits, due to significant increases in health insurance premiums
  • Insurance expenses including liability, marine and earthquake coverage
  • Additional lake patrol staffing
  • Property taxes as a result of the new Lake Corp facility
  • Legal due to ongoing litigation
The increase ranges from $54 to $96 per shareholder lot depending on frontage. Easement fees will increase by $33 for the powerboat membership, $28 for shared powerboat memberships and $5 for non-powerboat / swim only membership. 

The board finance committee conducts an annual review of expenses and inflationary factors each November to ensure spending is appropriate and assessments are adequate for the upcoming year.

We appreciate your support as we work to properly manage Oswego Lake to the high standards we all expect in a fiscally conservative manner.