President’s Report – January 2019

Kim Fuller

Monthly Breakout of Dues – 2019

As we enter a new year, it seems appropriate to explain our forecasted monthly expenses. These amounts are based on the approved 2019 budget.

Your monthly assessment per homeowner unit is $265, which reflects a $5 per unit per month reduction because of the forecasted Operating Fund surplus in 2018. By this I mean, the total monthly assessment would have been $270 per unit had there not been a forecasted surplus for 2018.

Let us now look at the composition of the $265 monthly assessment. There is a $41.75 credit to the Replacement Fund – this is the savings account used to pay for future items that need replacement, repair, or renovation. The balance of the monthly assessment, or $223.25 per homeowner unit, is forecasted to pay estimated monthly operating expenses as follows:

  • $55 for Facilities Maintenance
  • $36 for General/Administration
  • $32 for Golf
  • $28 for Property Protection
  • $28 for Landscaping
  • $16 for Recreation/Lifestyle
  • $11 for Utilities
  • $13 for Fitness
  • $8 for Food/Beverage
  • $0 for Capital Improvements
  • $0 for Common Area Improvements
  • $5 for Contingency Fund
  • $7 for Depreciation

You may notice that the budgeted Operating Fund expenses total $239 per homeowner unit per month. The difference in Operating Fund expenses and Operating Fund dues ($239 vs.

$223) is funded from Operating Fund other income that we anticipate earning during the year ($11 per unit per month) – plus we are utilizing a portion of the forecasted Operating Fund surplus from 2018 ($5 per unit per month).

The increase in dues from $259 to $265 represents a 2.3% increase, very reasonable considering that the minimum wage increased 9% beginning in 2019.

I want to thank the Board and staff for all their work on the budget to make this modest increase happen.

Thank you all for another day in paradise. I will stare at the sunset, and once again look around and know, “It doesn’t get any better than this.”

Kim Fuller