Sue Thompson and Terry Gebard were elected to the LPA board of directors during the LPA annual meeting May 9. Thompson elected to her second three-year term. Gebard was newly elected to the board for a three-year term.
By Susan Thompson | Times Vedette
The 57th annual meeting of the Lake Panorama Association was May 9 at the Lake Panorama National conference center. About 70 people attended, representing 42 voting members. It was announced the LPA currently has a total membership of 1,725.
There were 393 ballots cast in the election for two people to serve on the LPA Board of Directors. Sue Thompson was elected to her second three-year term. Terry Gebard was newly elected to the board for a three-year term.
Dennis Flanery, LPA board treasurer, provided the 2025 financial and audit report for the LPA and its subsidiary, LPN, LLC. The CPA firm of Meriwether Wilson conducted the annual audit. Flanery said the auditor’s report showed the information provided for the audit was in order, and the methods used by staff to create the needed documents were consistent with generally accepted accounting principles.
LPN’s 2025 operations showed a loss of $264,897. With other income and expenses, there was an overall loss of $377,041 in 2025, compared to loss of $376,553 in 2024.
LPA reported net income of $391,738 for 2025. The budgeted operating income for 2026 shows a loss of $292,723. Flanery said the amount of depreciation on the new maintenance shop and water plant project is the reason the budget shows an operating loss.
“It is important to clarify this is not a cash loss, but rather a loss on an accrual basis due to the amount of non-cash expenses LPA records in their annual financials,” Flanery said. “The amount of non-cash items, such as depreciation, has increased over previous years with the recent capital improvement projects completed. This is something LPA understood would occur from an accounting perspective, but we can assure the membership cash flow remains viable and on-track with respect to these important capital projects.”
Flanery said the LPA board of directors decided a 5% dues increase would be applied for 2026.
“This amount does not cover the cost of rising inflation for roads, parts, supplies, labor and fuel,” he said. “LPA staff continues to do an excellent job of watching the cost of expense items and juggling the necessary increases of expenses to keep within the budget available.”
Flanery said the LPA does not create its annual operating budget with the expectation of selling land. He also stated all LPA and LPN funds are fully covered by FDIC.
David Finneseth, LPA board president, chaired the meeting. He first joined the board in 2020 and had served as president since May 2024. His second three-year term on the LPA board ended at the conclusion of the meeting.
As part of his president’s report, Finneseth talked about a recent change to LPA boating rules.
“After much discussion and debate, the water safety committee recommended LPA adopt additional rules specific to wakesports,” he said. “These rules are not designed to imply wakesports are better or worse than other means of water recreation but rather are designed to acknowledge wakesports are uniquely different.”
Finneseth said under current rules, towing activities must remain 100 feet from the shoreline. This applies to things like waterskiing and tubing.
“Wakesport activities, however, are now governed as their own category and must remain at least 100 feet from the edge of docks and lifts. If no docks or lifts are present, then they must remain 100 feet from shoreline,” he said. “The goal of this new rule is to minimize impact of wakesports to docks, lifts and docked vessels.”
Finneseth said while no solution is perfect, the LPA board and staff believe this rule can make a meaningful difference if everyone works together to be courteous to their fellow members.
A recent survey conducted by the LPA was completed by about 500 participants. Finneseth highlighted some survey results.
The survey showed the five most popular activities at Lake Panorama are pleasure boating at 81%, dining at Captain’s Pick at 67%, tubing at 60%, fishing at 54%, and using LPA beaches at 53%.
The LPA Panorama Prompt weekly newsletter was named the top source of information used by the membership at 99%, followed by the Lake Panorama Times at 83%.
In response to a question about financial reserves, 72% of the membership supported a fund reserve somewhere between 10% and 20%.
Several questions were asked regarding member satisfaction with amenities, communication efforts and overall value.
“I am pleased to report our membership continues to give LPA very high marks on overall member satisfaction,” Finneseth said.
Other questions were about the LPA dues structure with 54% of the membership supportive of updating the dues structure.
“It was interesting to see there were many areas in which LPA members were generally satisfied or expressed interest in only modest adjustment of the current structure,” Finneseth said. “The board and management team are working to develop scenarios that reflect this desire for carefully measured changes and adjustments.
One question asked what strategy would be most appealing if the LPA membership were to vote in favor of a dues increase.
“Two answers emerged here,” Finneseth said. “First was a strong preference for phasing in any changes and increases over multiple years. Second, the membership expressed a desire for more information and understanding before they answer this question.”
Finneseth said only the LPA membership can change the dues structure or raise dues beyond 5% annually.
“The board’s responsibility is to bring you proposals for your consideration, and this survey provides us data upon which to develop those proposals,” he said. “Please watch for more information on this topic as the summer progresses.”
John Rutledge, LPA general manager, reported on LPA operations and RIZ. His first topic was LPA roads.
“Seal coat expense is a topic that influences both our budget and generates a lot of member interest,” he said. “In 2025, we seal-coated six miles of road for an average cost of $45,808 per mile. This was with CRS-2P oil and the traditional pea gravel we’ve used for years.”
In 2026, Rutledge said CRS-2P oil will again be used, while clean dolomite chips will replace pea gravel.
“The initial installation will look white, whereas the previous installations have looked brown. Although we do not traditionally use dolomite, it is commonly used elsewhere with success,” he said. “We are doing this to attempt to offset inflation and control our costs. The goal for 2026 is to seal coat 7.25 miles of roadway for $350,000. The product is different but not inferior.”
Rutledge said LPA is sometime asked why asphalt or concrete isn’t considered for LPA roads.
“It is currently well outside our budget to updated 35 miles of roadway to a more permanent structure, which is why we continue with seal coat,” he said.
Rutledge next turned attention to the LPA water plant, which is located on the west side of the lake.
“The majority of customers are on the east side of the lake,” he said. “LPA currently has four lake crossings for our drinking water system, three of which can be described as essential and one as supplemental. Two of the three essential crossings have been replaced within the last five years. We are planning on the replacement of the third within the next year or two.”
In addition to the replacement of lake crossings, Rutledge said there are a couple sections of water main that are the frequent cause of water main breaks.
“Unfortunately, these have a way of occurring during some of the coldest weather, which makes for a brutal repair. In the summer, we dig up a water leak. In January and February, it’s more accurate to say we chisel and break our way down to the water leak. Thanks to the water crew for their dedication.”
Rutledge said costs continue to increase to operate LPA’s water plant and system.
“The increased awareness, oversight and regulation on drinking water quality is a good thing, but it does not come without costs,” he said. “Our staff navigates far more reporting and governance than it did 20 years ago, which has made the department more expensive to run on a day-to-day basis.”
Rutledge said the LPA has adopted a new policy of implementing incremental annual adjustments to water bills. These increases are being applied annually with the April 1 quarterly water bills with notice of the rate change communicated with the January invoice.
Rutledge thanked the LPA membership, marina and the barge services for removing boats, lifts and docks early last fall to accommodate lowering the lake.
“We’re pleased to say the project to replace the hydraulic dam cylinders was successful and went as planned,” he said. “This project cost about $200,000 and had not been done for 20 years. The dam remains in good condition with proactive investments being made regularly by LPA. We have it inspected annually with a thorough engineering inspection every five years.”
Rutledge thanked the LPA security team that patrols the land and the water of Lake Panorama.
“It’s a tough job, and we appreciate their time and efforts,” he said.
Security plays a key role in the LPA deer hunting program along with administrative staff. Rutledge reported 97 antlerless deer were harvested in the 2025-26 hunting season.
“This is on the low side of our normal range but trended consistently with statewide totals and is within an acceptable range to meet LPA’s goals of managing deer herd population,” he said.
The status of LPA’s existing marina building near the boat ramp has not yet been finalized, Rutledge said.
“Our direction is to pursue demolition of the north portion of the building and salvage the two south bays. The south bays will be used by LPA security as their home base, and two bathrooms will be built for member use. The project will likely include a retaining wall to hold back the hillside currently being held by the marina building,” he said.
Rutledge said LPA staff is reviewing feedback from the LPA funding model membership survey.
“We are working on ways we might propose to restructure dues and generate additional funding for LPA’s critical infrastructure,” he said. “LPA’s funding model has always struggled to keep up. Rather than to apply a 5% increase annually in a futile effort to catch up, we will bring proposals to the membership to ensure we are not falling behind on critical infrastructure replacement, or accumulating substantial debt to perform necessary updates.”
Rutledge said the health of the LPA community is “outstanding,” but the funding model has not been seriously evaluated for revision during his two decades with LPA.
“The time has come to have an open and honest review of this topic,” he said. “More information will be presented to the membership this summer.”
Turning to the Lake Panorama Rural Improvement Zone (RIZ), Rutledge said projected TIF revenues in 2026-27 fiscal year are nearly $3.9 million. He reviewed a list of RIZ projects.
Expansion of the 180th Trail sediment basin is nearly completed, as is the West Fork Burchfield Wetland. The wetland is a $1 million project on which RIZ will receive about 50% reimbursement from the state of Iowa. Burchfield Wetland No. 2 is in a holding pattern because of federal permitting and mitigation rules.
Construction on the Horseshoe Cove Dredging basin will be put out for bid this summer and hopefully begin this fall. Trees there have been cleared.
RIZ had almost 3,000 acres enrolled in a voluntary cover crop program last fall into this spring.
A new $5.5-million dredge will be delivered later this year. The current dredge was placed into service in May 2014.
Rutledge said plans are in place to dredge coves beginning in fall 2027 and extending for three to five cycles of fall start and spring conclusion. This will include Burchfield, including the west fork and log cabin area, Horseshoe, Shady, Dale’s and Stanley/Wilcox.
Turning to this year’s Iowa legislative session, Rutledge said LPA continues to be very involved, and recognized Carter Nordman, who attended the meeting.
“We are fortunate to have excellent representation in Des Moines, and we have fared extremely well in recent years,” he said. “Carter Nordman is our representative and also Chair of the House Ways and Means Committee. This is an extremely important and impactful role for Carter and we appreciate him always making sure Lake Panorama isn’t collateral damage in larger efforts to reform TIF and property taxes.”
Rutledge also extended thanks to Senators Jesse Green and Tim Kraayenbrink for their continued support of Lake Panorama.
Rutledge reminded LPA members who haven’t already created an account on the LPA website to do so.
“This will ensure you receive LPA’s weekly email, which is our official means of communicating rule changes and other important information to members,” he said. The website is lakepanorama.org.
Rutledge responded to audience questions before the meeting adjourned at 10:50 a.m.
Shortly after adjournment, the LPA board of directors convened a special meeting to elect officers for the coming year. A slate of officers was nominated, and elected unanimously to take office upon adjournment of the special meeting.
LPA board officers are Sue Thompson, president; Steven Sidman, vice president; Mark Jorgensen, secretary; and Dennis Flanery, treasurer.
Two GM Coffees announced
During his remarks at the 2026 LPA annual meeting, John Rutledge, LPA general manager, announced dates for two upcoming GM coffees. The dates are Thursday, July 9, and Friday, Sept. 4. Meetings begin at 10:30 a.m. and are held at The Captain’s Pick at Lake Panorama National Resort.
A third coffee will be scheduled in late fall after the 2027 LPA and LPN, LLC budgets are approved.
Coffee and other refreshments are available at these informal gatherings, where Rutledge and Royce Shaffer, LPN director of operations, provide updates on current happenings, then take questions from members in attendance.
If members have questions they would like covered about LPA or LPN policies or developments, they can email lpa@lakepanorama.org to give Rutledge and Shaffer a chance to prepare in advance. LPA members with questions specific to their own membership or property should call the LPA office during regular business hours at 641-755-2301.