The Board of Directors developed the 2021 Budget for review and approval at the October 6, 2020 Board Meeting. The proposed annual budget is $137,280 resulting in a 2021 annual assessment of $1,248 (or $104/month) for each member of the Association.
The reasonable increase in budget is primarily the result of the following projected needs:
- Funding for repairs and maintenance of our facilities which are starting to age and to require a higher level of maintenance and replacements: irrigation, lightning, pool, fencing, etc…
- Addition of trimming of trees in the right-of-way throughout our community
- Funding for landscape replacement and improvements
- Increase pool housekeeping commensurable with the level of use and needs observed this year
- Increase in reserve for existing metal fencing/railing in common areas
- New reserves for currently unfunded components: brick wall along Tower Rd and pool facility structural elements. We propose to use $20K of the existing $47,000 Retained Earnings as seed money for these additional reserves in order to limit the increase in annual assessment. This will leave an estimated $27,000 Retained Earnings at the beginning of 2021 and will provide adequate cashflow for the operation of our Association.