At the Lake of the Woods Board of Directors meeting held on December 3, apparently the HOA/assessment delinquencies were mis-stated. Below is a correction that was made by Pat Rowland, President.
Delinquency Report Corrections
The percentage of delinquencies of FY 11 LOWA assessments reported by the Treasurer at the December 3, Board meeting and then subsequently reported in the Free Lance Star was incorrect. At the end of October the delinquency rate was 4.2% not 11%. A rate under 5% is considered in the normal range according to our Director of Finance.
President, LOWA Board of Directors