RECREATION ASSOCIATION ANNUAL ASSESSMENT AND BUDGET FY 2019
Post date: Aug 27, 2018 3:16:9 PM
On August 1, 2018 the Board of Directors held an Open Budget Hearing for the community. Budget hearings are held every year before the proposed budget is approved by the Board of Directors. The purpose of these hearings is to present the budget to the community; to receive community input and discuss the budget so that each member understands how the Association money is spent and the reasons behind any assessment increase before it is approved by the Board. The Annual Assessment for Fiscal Year 2019 was approved by the Board of Directors on 8/1/2018 and determined there will be no increase, keeping the annual assessment steady for another year in the amount of $548.00.
The Recreation Association is offering a 3% Annual Dues Assessment Discount Option. To qualify for the 3% discount, $16.44, please make your Annual Dues payment of $531.56 between October 1 and October 15, 2018. Payments must be received by our business office on or before October 15, 2018. Payments received after the October 15, 2018 deadline will not qualify for the discount.
The Board of Directors has chosen to continue to permit members to make quarterly installment payments of their Annual Assessment. Owners who choose to make quarterly installment payments of their Annual Assessment must make their payments on time to be permitted to continue to make quarterly installment payments without penalty. If a quarterly installment payment is not made on time, the balance of the Annual Assessment will become payable and interest charges may be applied on the balance of the Annual Assessment until it is paid. Please see the Annual Assessment quarterly installment schedule of dates below.
If for any reason you are not able to pay an assessment by the due date, please contact the Association by calling the clubhouse office on 703-437-1811 or emailing the Association at seasonsva@verizon.net. Members also may come to any meeting of the Board of Directors, which are held the first Tuesday night of each month. The Board realizes that financial hardships occur and are a challenge. However, the Board would prefer to amicably work out a payment plan rather than begin legal proceedings.
ANNUAL ASSESSMENT
Fiscal Year: October 1, 2018 through September 30, 2019
Annual Assessment Due Date: October 1, 2018 l Annual Assessment Amount: $548.00
Annual Assessment Discount Option: To qualify for 3% discount of $16.44, please make your Annual Dues payment of $531.56 between October 1 and October 15, 2018. Payments must be received by the Association office no later than October 15, 2018.
Annual Assessment Quarterly Installments: Quarterly installment payments must be made in the amount of $137.00 and must be received by the Association office no later than the Late Date for each quarter.
Quarter Due Date Late Date
1st Quarter October 1 November 1
2nd Quarter January 1 February 1
3rd Quarter April 1 May 1
4th Quarter July 1 August 1
Please refer to the Recreation Association Policy and Procedures Concerning the Collection of Assessments for complete assessment collection procedures.