In early April the Panoramic Heights Homeowner Association sends out your bill for yearly dues.
“Why do we have annual dues? What are we getting for the money?” Those are great questions.
Here is the answer:
- Your Panoramic Heights Homeowner Association has a yearly budget of almost $31,000. The biggest expense comes from maintaining our three common areas that beautify our neighborhood. This includes lawn care (mowing, fertilizing and weed control), irrigation system maintenance and irrigation system repairs.
- We also have an insurance policy which includes a “General Liability” segment to cover things that may happen in our neighborhood and a “Director and Officer Liability” segment to cover our Board of Directors. This year we were able to save almost 30% on this policy by combining two into one and changing companies.
- We always budget for capital improvements, which may include new lighting, upgrading existing equipment, etc.
- We have other expenses: power to our irrigation, web site development and repairs, web site portal for the ability to pay your dues online, maintaining speed signs, legal fees, etc.
- Our Bylaws require us to keep a $5,000 Emergency Fund balance. We have never had to use this, but our Bylaws require it.
Our goal is to keep these dues as low as possible, and if you check HOA dues in other areas, ours are extremely low. If you have questions about these dues, you are always welcome to attend our monthly board meetings. These are posted on the calendar on our web site along with the agenda, minutes of past board meetings and the monthly financial report. Our new web site address:
panoramicheightshoa.com.
Keeping our neighborhood well maintained and manicured protects our property value.
We also want it to be inviting for those people who are looking to purchase a home.
Gerry Berges, OD
President
Panoramic Heights Homeowner Association
Recent Comments