2023 Budget - See the HOA website

Curious about the 2023 Budget that was approved by the HOA board of directors on November 1, 2022?

It's on the website, in the Homeowner section (password-protected). Click on RESIDENTS, then on DOCUMENTS. Then click on Annual Budgets, then on 2023.

After two years of my barking, the HOA finally did away with the category of "Salaries". Imagine that. The only problem with Salaries was that the HOA had NO employees.

Increase the size of the spreadsheet, so that you don't go blind trying to read the numbers.

Now, what's wrong?

Even though rampant inflation has spread across the U.S. and South Carolina, the top line hasn't changed. It's still $1,262,250. Of course, it is fixed at that amount because of the dues (called regime fees by the old-timers). 2480 homes at $550 = $1,264,800

Why does the top line (gross dues income) show $1,262,250 and not $1,264,800? That difference is $2,550, or $510/year dues from five homes. Who isn't paying?

Next, homeowners should be outraged at the estimated Late Fees ($65,000) and Fines for Violations ($62,000) to be collected. That's $127,000 or one month's Operating Expenses. What is the HOA doing to work with homeowners and get them to avoid Violations and to pay their dues on time? Anything?

Then there is the deception in Line Item 6005. The amount is $140,000. It is not "On-Site Maintenance". The HOA pays CAMS $140,000 for the office employees and HOA Manager. That amount should be lumped into one total payment to CAMS, so that homeowners know exactly how much, in total, the HOA is paying CAMS. 

In past years, the current year's budget has been posted alongside the previous year's budget, so that it was easy to see what changed. Not this year!!!

More on the budget in a future article. 

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