Financial Information

Yearly Budget

Each year the Shepherds Grove Board of Directors creates a budget for the current year. At the yearly Shepherds Grove Financial Update meeting, the budget is presented to the homeowners. Any changes are discussed, and final budget is approved. Click on the SGHOA 2020 Budget below for budget detail

Previous Year Actual Costs

On a monthly basis the Board of Directors review financial budget vs. actual costs. It is determined each month if any changes need to be made to protect our financial welfare. Link to follow soon,

Reserve Study

A reserve study is the analysis of a community's major repair and replacement needs such as roofing, siding, painting, etc. This plan is developed for accumulating cash to perform the repair or replacement work as needed over typically a 20 year period. This translates into the amount o reserves that should be paid by head home owners on an annual basis. Per our covenants, Article IX: Assessments. Sections 7: Reserves, we are required to contact a reputable and qualified reserve study special or engineering company to assess our Reserve Fund. Every 5 years we are required to re-evaluate the financial viability of our Reserve Fund. See Shepherds Grove - Final Reserve Report -2020 below for all of the details.

Below are documents that will be referenced during the HOA's Financial Update Meeting held in November. See the Home Page or Calendar for details on the meeting time and place.