2026 Budget

Want to see what you are getting for your extra $50.00/year in 2026?

The 2026 Budget has been posted on the HOA's website. Try this link:   https://www.summithomeowners.com/editor_upload/File/Summit%20Approved%202026%20Budget.pdf

If that doesn't work, log into the HOA's website at https://summithomeowners.com

Hover over RESIDENTS; 
Click on DOCUMENTS;
Click on Annual Budgets;
Click on 2026

An important column is missing, just as it has been in previous years. That's the Percentage-of-Change column.

For example, in 2025 only $3,000 was contributed to Reserves. In 2026 (Line 8000) the contribution will be $91,081 (+2,900%). (The contribution to Reserves in 2020 was $163,965.)

Line 4000 Assessment Income
2025 $1,264,800 (2,480 x $510)
2026 $1,388,800 (2,480 x $560)
Percentage-of-Change: +9.8% (This was the maximum increase in Assessment that could be made by the BOD without approval of the Voting Members.)

Line 6020 Contract Landscaping
2025 $556,358
2026 $508,860
Percentage-of-Change: -9.1%
What got left out of the Landscaping Contract for it to drop by $47,498?

Line 5111 Irrigation Contract
2025 $75,000*
2026 $121,680
Percentage-of-Change: +62.2%**

* The Irrigation Contract in 2025 was actually $10,140/month ($121,680/yr.); however, it was under-budgeted at $75,000. The Treasurer (Adams or Hill) or President (Trapp) never explained why $75,000 was budgeted but the contract was $121,680.

The 2025 Budget would have been unbalanced, if the correct amount had been budgeted. The PRM prohibits an unbalanced Budget (Art. III, §C, ¶4 (l)). The Budget may have been "balanced" by the odd amount of $91,081.

** There wasn't any actual change in the Irrigation Contract between 2025 and 2026. The error was in the 2025 Budget, when the Contract amount was under-budgeted by $46,680!

The Budget is supposed to be developed by working up the Expense Budget first, to determine how much is needed to operate the Association. Then the Income Budget is calculated. (PRM, Art. III, §C, ¶4(f))

Will $560/property be enough in 2026?

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