Operating Budget

 The following is our Operating Budget, Yearly Assesment & Special Assessment (Members Only).   

Current Operating Budget & Reserves

Current Operating Budget, Yearly Assessment & Special Assessment:

Operating Budget 2024 (pdf) $   300 none Proposed

Operating Budget 2023 (pdf) $   300 none

Operating Budget 2022 (pdf) $    300 none

Current Reserve Analysis and Level:

Reserve Analysis 2022 (pdf) $3,040

Annual  Assessments

Commencing with the first fiscal year of the Association, the Board of Directors shall annually determine the amount of the Annual Assessment, but may do so at more frequent intervals should circumstances so require. Upon a resolution of the Board of Directors, installments of Annual Assessments may be levied and collected on either an annual, semi-annual, quarterly or monthly basis. Any Member may elect to prepay one or more installments of any Annual Assessment levied by the Association, without premium or penalty.

see Declaration of Covenants: Section 8.6

see By-Laws: Article VI: Section 2

Operating  Budgets

The Board of Directors shall prepare a pro-forma operating statement (“Budget”), for each fiscal year, which Budget shall be distributed to each Owner not less than thirty (30) days prior to its adoption at an open meeting of the Board. A copy of the Budget and notice of such Board meeting to adopt the Budget shall be given to each Owner. In addition to the notice methods provided by Article III, Section 3. of the By-Laws, notice of such Board meeting and a copy of the Budget may be delivered personally, placed in the first class United States mail, postage prepaid, to the most recent address furnished by such Owner in writing to the Association for the purpose of notice, by electronic transmission, by posting on the Association’s webpage, if any, or by inclusion in the Association’s newsletter, if any. In addition to any information required to be included in the Budget in accordance with the HOA Act, the Budget shall contain the amount of the Annual Assessment for each Lot.

see Declaration of Covenants: Section 8.6

see By-Laws: Article VI: Section 2

Additional (Special) Assesments

Additional assessments may be fixed against any Lot only as provided for in this Declaration. Any such assessments shall be due as provided by the Board of Directors in making any such assessment.

see Declaration of Covenants: Section 8.7

Reserves

The Association shall establish and maintain a reserve fund for repairs and replacements of the Common Areas by the allocation and payment annually to such reserve fund of an amount to be designated from time to time by the Board of Directors. Such fund shall be conclusively deemed to be a common expense of the Association and may be deposited with any banking institution, the accounts of which are insured by an agency of the United States of America or may, in the discretion of the Board of Directors, be invested in obligations of, or fully guaranteed as to principal by, the United States of America.

The Association may establish such other reserves for such other purposes as the Board of Directors may from time to time consider necessary or appropriate. The proportional interest of any Member of the Association in any such reserves shall be considered an appurtenance of such Record Owner’s Lot and shall not be separated from the Lot to which it appertains and shall be deemed to be transferred with such Lot.

see Declaration of Covenants: Section 8.12

Prior Budgets

Prior Budgets, Yearly Assessments and Special Assessments:

2022 (pdf) $300 none

2021 (pdf) $300 none

2020 (pdf) $300 none

2019 (pdf) $500 none

2018 (pdf) $500 none

2017 (pdf) $500 none

2016 (pdf) $500 none

2015 $500 none