Community / Security Update
- Details
- Category: Main Page Articles
- Published on Tuesday, 12 August 2014 18:52
- Written by Super User
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A MESSAGE TO OUR PROPERTY OWNERS
As your Elected Board of Directors, we and all Staff members work diligently to keep all costs down for the POA. We carefully reviewed our financials with our accountants who warn that our reserves, which are used to replenish equipment, will be depleted by the year 2030.
In addition, increased costs of materials, insurance, wage increases, dam repairs and upkeep all contribute to the need to raise our assessment in order to preserve the financial stability of our community. Please review the above summary of our financials as of February, 2017.
In the near future, we will be asking you, our Property Owners to vote for an increase of $40.00 to the current assessment of $250.00, the amount to be $290.00 per year if approved by the membership.
The last assessment increase was in 2004. Your vote is important as our governing documents require a 51% of the votes by the membership for approval. To avoid additional mailing costs, it is important that you return your ballots, as our initial costs for this mailing will be approximately $5,000.00. If we do not receive your returned ballots from the first mailing, we are required to send out second mailings which will double our costs.
Thank you in advance for your time and consideration to this matter.
- Revised May, 2017