The board will be hosting a Q&A session for homeowners to review findings from our 2013 Capital Reserve Study and the proposed budget for 2015 and beyond.
One of the most important responsibilities of your volunteer board is to make sure that funds are available when the association's major assets (lake, pool, clubhouse, tennis courts, common properties, etc.) need to be maintained, repaired or replaced.
About the Capital Reserve Study
In 2013, the board retained an independent consultant, Comer and Associates, to perform a reserve study designed to:
- Analyze the association’s finances
- Inventory and inspect our major assets
- Develop a capital plan to predict future repair/replacement schedules and estimate the cash flows that will be needed and available to the association during each of the next 20 years