Resolution of the Board at the 5/8/2012 meeting.

For the 2012-2013 budget, we worked diligently to keep HOA dues the same. We have budgeted a little more than what we had been spending on our roofing. Since our checking balance has improved over the last year, we are taking fifty-four thousand dollars out of the reserve, rather than raising the fees to two hundred dollars a month, in order to do eight roofs this year. The following year we may have to make a choice between doing eight roofs and raising the dues by a couple of dollars. Thirty-four roofs remain to be done; we contracted for eight of those to be done this summer. When those roofs are done, we will have 26 roofs left to do in the coming years. Once all the roofs are finished, however, fees will not go down because there are other jobs that are being neglected while we work on roofs. We will need to be putting some money in escrow against such repairs as driveways, walkways, siding, etc., in order to maintain the appearance of the Community. Also, for instance, this year we saw a five thousand dollar per year increase just for our city water meters, regardless of our usage. Only a minimal difference to the HOA is caused by school tax increase since the HOA owns little property; the biggest impact will be upon the individual assessment on your homes. The budget item for fencing, now that fences fall under homeowners’ responsibility, refers to the perimeter fencing, 911 fencing, and chain-link fencing that is owned and maintained by the HOA. Some owners still dispute the interpretation that makes them responsible for their own fences, which was accepted as policy by the Board a few months ago. Note that this new budget is based upon income from only 320 homes (not 326), omitting homes in foreclosure or bankruptcy, which fees are uncollectable. Gerry Eagan moves to accept the new budget, Dan Shusda seconds. Passed.