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Field of Dreams Dues Increase

Field of Dreams Dues Increase. Littlerock Fire Station June 11, 2012 7 pm. Agenda. History of HOA Dues Where Our Dues Go FOD Expenses in $s Where Our Dues Will Go Summary. History of HOA Dues. 2005 - $576 / year 2006 - $600 / year + $100 special assessment 2007 - $660 / year.

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Field of Dreams Dues Increase

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  1. Field of DreamsDues Increase Littlerock Fire Station June 11, 2012 7 pm

  2. Agenda • History of HOA Dues • Where Our Dues Go • FOD Expenses in $s • Where Our Dues Will Go • Summary

  3. History of HOA Dues • 2005 - $576 / year • 2006 - $600 / year + $100 special assessment • 2007 - $660 / year

  4. Where Our Dues Go

  5. FOD Dues & Expenses

  6. Why Have Our Costs Increased? • Inflation and increased fixed costs such as professional fees, insurance and utilities • Contract labor – special projects • Foreclosures resulting in lien filing fees • Equipment maintenance

  7. Where Our Dues Will Go • 72,449: : Projected expenses for 2012 • $14,000 (minimum)- Capital improvements required in the next 3 years • Equipment replacement • Removing remaining sprinklers off potable water source • Landscaping common tracts • Building emergency fund

  8. Summary • FOD Expenses have increased beyond current dues • Board has decided to increase dues to cover expenses and Capital Projects • We are raising dues to $840/year or $70/month beginning July 1, 2012 • Currently $660/year or $55/month • This will bring our income up to $83,160/year • Inline with projected expenses and capital projects

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