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Due to the recent inquiries about the dues increase and the operations of the new board, we have compiled this list of FAQ’s for your reference. You may read it in full here, or download it as a pdf by clicking here. Of course, you may still contact anyone on the board for additional information.
The River Run Homeowner’s Association Board
Question: Please provide more explanation for the dues increase from $400 to $475?
There are four primary reasons for the dues increase.
- Cash reserves are at unacceptably low levels to deal with any uncertainty and they need to be rebuilt to a more reasonable level. The reserves dropped to $4,395 at December 15, 2014 from $19,499 at December 31, 2013. (The final 2014 actual expenditures will be posted to the River Run website shortly after December 31, 2014.)
- Watering costs increased substantially in 2014 primarily due to the HOA now being properly billed for the full amount of water used for the HOA’S parks and common areas. Until July of 2013, one of the HOA’s water meters was being inappropriately billed to Life Center and they were paying for some of the park’s water. This was going on since 2006.
- Costs to maintain and replace trees in the common areas are increasing as they grow.
- The combination of the higher expenses resulted in a forecast operating budget deficit of approximately $7,500 for 2015 if dues were not increased.
The new Board prepared a realistic budget and determined $475 was necessary to pay all the HOA’s operating costs and build back Continue reading “Update On HOA Fee Increase – FAQ”
River Run HOA Meeting Agenda 7:00 pm July 21st
Welcome and Introductions (Board and Advisory Board) — Tim Murphy
Covenants Conditions & Restrictions Modification — Tim Murphy
Budget Summary — Mark Nonnenmacher
- 2013 Actual 2014
- Budget Dues Update
Dues Update New Members — Tim Murphy
Block Watch Update — Taryn Hutchins
HOA Board Explanation & Transition — Mark Nonnenmacher
Copper Basin Development Update — TBD
Questions and Answers — All