BUDGET PRIORITIES
WHAT MAKES UP OUR BUDGET?
As an association, we are responsible for the maintenance of outdoor areas and facilities we share as a community. Below is a breakdown of our most common community expenses, and their status.
LANDSCAPING
Our current annual budget for landscaping is $3500. This covers the mowing and upkeep of all non-wooded common areas.
This budget will increase incrementally as gas prices affect the cost of labor.
TREE WORK
Our current annual budget for tree work is $1000, set to increase to $1500 annually for 2025.
As a community we may be responsible for common area trees that have be downed, or
that may pose a clear danger.
TENNIS COURT
In the fiscal year 2024, there was an assessment for the tennis court. The cost of repairs to the court totaled $14,394.
After 2024, we will dedicate $1000 per year to tennis court maintenance.
INSURANCE
Our annual budget for liability insurance is currently $715 per year.
In our future projections we have budgeted $800 per year after 2025. Rates are subject to change.
Looking
Ahead
In 2024, we faced a special assessment due to the fact that our association had no cash reserve for the expense of maintaining the tennis court.
This year the board voted unanimously to designate 25% of our annual cash surplus to a separate account for rainy days ahead. This account, plus a reasonable annual surplus should help to see us through any unforeseeable future expenses.