No Increase in Residential Assessment for 2022
For the third year in a row, the residential assessment will remain flat at $1800!
Management, the Finance Committee, and the Board of Directors have been extremely diligent with keeping expenses in control while at the same time maintaining the appearance of the community and providing exceptional service.
At the October Board Meeting, the 2022 Operating Budget for the Association was approved. The operating budget process begins in July when department heads begin developing their initial drafts. At the October Finance Committee Meeting, the committee reviewed a final draft and approved a motion for board consideration at their October meeting.
The budget includes a $2.1 million transfer from the operating budget to the Repair and Replacement Fund. From 2017 through 2021, the Association has contributed approximately $11.2 million to the Repair and Replacement Fund while continuing to reinvest in the community assets. The annual contribution to the Repair and Replacement Fund is key to the ongoing infrastructure replacement needs in the community.