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A few people have asked this question at
our association meetings. So for everyone's benefit, I will do my
best to explain why our dues are what they are.
When we assumed responsibility of our
association from Perkins Development, they warned us that our dues would
be high, and when compared to some other local communities, he is correct.
I will try to explain why some people think our costs are high and
document my thoughts on what my duties, as treasurer, are.
Point 1
Graystone is a neighborhood of 165 home sites, of these sites,
approximately forty-five do not have occupied homes on them yet.
This equates to 73% of our neighborhood paying for 100% of our association
expenses. So as new neighbors move into Graystone, our costs per
homeowner will drop.
Point 2
We have a large amount of common area landscaping to maintain. If you
review the financial forecast, you will see that I project we will spend
more than $27,000 on landscaping, watering and seasonal
planting/decorations per year.
Point 3
We have all been either successful enough or lucky enough to live in a
neighborhood where the median value is probably $350,000 to
$400,000. If you put it into perspective, $200 every six months
equates to a rounding error (one-tenth of one percent) in the value of our homes.. Consider it the price of success!
Point 4
We have not yet completed a full year of running our association. So we
are still on a learning curve to know what our expenses are and what our
cash reserve for emergencies and unplanned expenditures needs to be. For
example, by the end of July 2002 I anticipate that our revenue will be
approximately $9,000 in excess of our expenses. However, this excess will
probably be needed to go toward fixing the clock tower and/or the
shrubbery extending along 115th Street .
I trust that after reviewing the above
list, you have a better understanding of why the dues are what they are.
If you would like to discuss this issue, or have a comment, please contact
me at 298-5381. Better yet, come to our next home owners association
meeting and voice your concerns!
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