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2013 Draft Budget Posted

October 31st, 2012 by Matthew Slavis Leave a reply »

The 2013 Fiscal year budget has been posted for public comment. The Board must vote to approve the budget at the November 23 Board Meeting. The annual assessment will increase $10 this year to $450.

We are faced again with the expense of resurfacing the pool in the coming year. The most expensive scenario for this repair is $80,000 to plaster the surface of the pool and repair the cracking coping. No proposal has been accepted or contract awarded. We have included this amount in the budget to alert the community to the upcoming expense.

The Community Association Reserve Fund exists specifically to address this type of expense. The bulk of the expense would be paid from this fund. Given that Mortgage lenders are now increasingly concerned with the health of HOAs, allowing the reserve fund to fall too low could interfere with your ability to refinance your home. The $10 increase in annual assessment is intended to minimize this impact. Additionally, we have elected to transfer $20,000 from the landscaping fund to bolster the Reserve Fund.

Please contact use as brookstoneboard@brookstoneweb.org if you have any questions or comments regarding this budget.

Matthew Slavis
President, Brookstone Community Association
On behalf of the Board of Directors
2013 Draft Budget (83)


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