The annual HOA budget is prepared in the fall of each year, taking into account projected operational expenses for the following year, as well as required set asides for Reserve Funds. 

OPERATIONAL EXPENSES include, but are not limited to:

General and Administrative:

• Management fees
• Checks, coupons, postage, and miscellaneous administrative expenses
• Audit fees
• Legal fees
• Insurance
• Income taxes

Swimming Pool:

• Pool Repairs, furniture, and supplies
• Utilities

Maintenance:

• Grounds improvements
• General maintenance, plumbing, electrical repairs

Contract Services:

• Grounds maintenance
• Pool management 
• Trash removal
• Snow removal

RESERVE FUNDS are currently set aside at the rate of approximately $131,000.00 annually.  Reserve funds are used for large capital expenditures (i.e. paving of streets, major repair to concrete sidewalks and walls, resurfacing of the tennis courts, white coating and major repairs to the swimming pool, etc.)  Every five years, as required by law, a professional engineering review of the community is conducted to determine if sufficient Reserve Funds are being set aside, based on estimated life expectancy of pavement, pool structure, and other items covered by these funds.  The set asides are then adjusted appropriately on the audit. 

INCOME is almost all from annual assessments (dues), most often paid by homeowners in monthly installments, although annual or quarterly payments are alternatives.  Bank interest, late fee income, and other income accounts for less than 3% of total association income. 

With all expenses and miscellaneous income considered, the board determines how much assessment income will be required and sets HOA Fees for the following year accordingly. 

Budgets are published annually in November and mailed to all owners.

Click here for the 2025 Budget.