As published in The View, December 2020:
With the new year just around the corner, it seems appropriate to explain once again our forecasted monthly expenses. These amounts are based on the Board-approved 2021 budget. Your total monthly assessment per homeowner unit is $306. This amount includes $12 for your Frontier internet service.
Additionally, the Board voted to issue each homeowner unit a one-time credit of $144. Your January 2021 assessment will be reduced by $144, making $162 the total amount due for January 2021. The amount due for February through December 2021 will be $306 per month.
Let us now look at the composition of the $306 monthly assessment. $49 per homeowner unit is credited to the Replacement Fund. This fund accumulates financial resources for future replacements or major repairs of common area real and personal property components that the Association owns. The balance of the monthly assessment, or $257 per homeowner unit, pays for estimated monthly Operating Fund expenses as follows:
- $57 for Facilities Maintenance
- $40 for General/Administration
- $38 for Golf
- $32 for Landscape Maintenance
- $31 for Property Protection
- $21 for Utilities (includes $12 for Frontier internet)
- $15 for Recreation/Lifestyle
- $14 for Fitness
- $11 for Food/Beverage
- $9 for Depreciation
- $0 for Capital Improvements
- $0 for Common Area Improvements
- $0 for Contingency Fund
You may notice that the budgeted Operating Fund expenses I listed total $268 per homeowner unit per month. The difference in Operating Fund expenses and Operating Fund assessments ($268 vs. $257) is funded from Operating Fund other income that we anticipate earning during the year ($11 per unit per month).
Below is a summary of the computation of the monthly assessments for 2021 and 2020.
|Detail of monthly assessment per unit||2021||2020|
|Operating Fund, balanced budget||$244.74||$234.00|
|Operating Fund, credit for prior year surplus||0||(8.00)|
|Frontier Bulk Internet||12.00||0|
|Operating Fund, net assessment||256.74||226.00|
|Total monthly assessment billed to unit owners||$306.00||$273.00|
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