Special Assessment Letter from HOA

If we were to take just the expense of plowing each individual street and divide it by the homes on that street I think you would find that you would be paying significantly more. Each street costs the association about the same amount to plow but dividing it by the number of units on a street the TH streets are a lot higher density then the SF privates. For example if each street cost $100 dividing it by 37 TH on a street will be much smaller then 15 SF homes
As for rolling the money into the general maintenance account, This is money that has already been spent - we need it to pay the bills so there will not be any rolling it into general funds.

1st of all we do not go looking for projects to spend the money on. There is always something that comes in above budget and others that come in below all depending on the weather conditions. However if there is a surplus that money would not be sent back to the owners but rolled into the upcoming budget to hopefully keep dues level or possibly even reduce fees. Each year the goal of the board it to predict and thus create a zero sum budget no profit and no loss each year. Most years we have been very successful in doing just that and then some years (like this one) where there is no way anyone can predict the number and intensity of the winter storms we don't. Hopefully this is something we are able to adjust for moving forward with the goal of not having to do another special assessment again.

Staci

 

Let me apologize ahead of time for my lack of understanding when it comes to budget/finances/accounting/fuzzy math/Chinese arithmetic etc...

Assumption: snow removal companies have already been paid, since they are small business' and the HOA likes to pay its bills on time.

I keep seeing "zero sum" budget...and then I laughed. Budget is not money, but an estimation of expenses and revenue over a specified future period of time. So were we "budgeting money we already had" or "budgeting anticipated revenue?" I understand that the Board underestimated the costs for snow removal...logical, given the fact that they can't truly predict the future, but I don't entirely believe the "zero sum" philosophy. Money is fluid and moves around: spend it, package it, title it, move it, hide it, call it something else...its still money.

1. the snow removal companies have already been paid.
2. we need to pay some bad debts for delinquent homeowners, etc.....with that said...what exactly is the SA for again? What are these bad debts that I (we) are paying for? A detailed list of the bad debts would be mostly appreciated.Please post a listing of "bad debts" on the website for all to see.

No need to PM me or email directly.

 

The last 3-4 winters have had very little snow....what happened to the money that was put aside for those years?

 

okay

 

I have a fairly simple solution.
The HOA can simply raise the monthly HOA fee, say, $8/month. Whether we need it or not. This would cover any unexpected expenses, such as snowstorms. Then, when the tax man says we have too much revenue, the Board can just go find something to spend it all on, and we can start the process over again.
Sound good??

 

Sounds perfect, may I suggest a misquito habitat with boardwalks, or a large stone sign with an occassional fountain?

 

Dude, the HOA didn't pay for that, the developer did, get a clue.

 

My kids and I like the turtle pond/nature area! They shoulda used composite lumber tho, it is already starting to degrade and nails are popping up over 1/8" over the surface I hope they will maintain it so it lasts!

 

i'll agree...the stale bread in our house and ducks over there are good for atleast an hour of entertainment for my 3 year old!

 

It's hard to believe this was the scene about 6 months ago and now temperatures are in the 90's almost every day. I shot these in Southern Walk on 02/06/10, roughly 24 hours after the first snowflakes appeared. I think they did a real good job especially considering how much snow there was.

I'd pay $148 to have this snow again right now even though it would only last a few moments before melting away.

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Those were beautiful pictures!!!!! Almost makes me wish we had that snow again, too!

 

One reason why we are grounded in VA... four seasons ... Always a season to look forward ... who needs 365 days of 70 degrees !!! haahaaaa

Pre Season Football .. Fall is just around the corner !

 

Wow!!! Thanks so much for the pictures!!!

 

stunning photography!!!

 

On a side note, what did you shoot that with, You can PM me if you want to. great work!

 

I just bought a Cannon EOS Rebel--I am hoping my pictures will look this good!

 

Nice photos. The huge pile loks like the one made on our corner at 1:30am the 2nd night. Sure would be nice if Ridgeway was shoveled all the way so we'd not have the driveway side of the street left with 6 feet width of snow and mush on our side of the street.