Due to the housing/economic downturn, the HOA is receiving less income in assessments and interest income, while collection and bad debt expenses are increasing. As a result, at the May 2009 Board Meeting, the Board found it necessary to increase the monthly dues from $45.70 to $48, effective July 2009.
Here's a breakdown of some of the major monthly expenses per residence.
Landscaping Contract - $13.36
Management Contract - $10
Reserve Deposit - $8.33
Water - $5.18
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