How will Inflation really affect the HOA?
How concerned are you abut inflation? Do you think it affects the budget and spending of The Summit HOA? The 2022 Budget increased from $1,317,550 to $1,320,050. That's $2,500 (0.19%) That's 2/10 of 1%. (The Treasurer told the Board that the budget increased $3,500.) " In February 2022, consumer prices rose 7.9 percent—the highest annual inflation rate increase in 40 years. " (Source: Hillsdale College NAtional Survey on Inflation in the U.S. (May 2022)) HOA President Justin Martin had this to say (to some) about inflation in 2022: " This year we're going to have increased costs because inflation for everything is hitting us hard, however, as far as the overall budget is concerned, we'll be just fine." QUESTION : If the HOA is going to have increased costs because inflation for everything is hitting us hard", how is everything going to be "just fine"? Isn't that naive? Why didn't the Budget increase? The Board apparently did no...