What Dues Increase?
"It has been determined that, based on our current expenditure and the future financial pending obligations, it will be necessary to raise our regime fees by $25.00 each six month period, for a total of $50 annually."
First of all, does that sentence even make sense? What does "our current expenditure" mean? What does "the future financial pending obligations" mean? Will regime fees go up $25.00 every six months? Or just in 2026?
When was "that" determined? And by whom? Was it done in one of those secret, private, closed, pre-board meetings?
The right way to determine whether the Assessment should be increased is to follow the rules set out in the PRM at Art. III, §C, ¶4(f) "The Income Budget is not started until the Expense Budget is completed."
If the Finance Committee does its job the right way this year, they will follow the PRM and complete the Expense Budget the way they are supposed to. Then, once they know how much money is needed, they will develop the Income Budget.
The HOA will need much more than an increase of only $25 in January and another $25 in July from each property.
Comments
Post a Comment