The budget is now live on the Homeowner Portal. The budget numbers in the portal should remain confidential to homeowners as it can affect the bids from vendors who know our budget. This makes it more difficult to get honest bids for work and can raise our costs.
For those of you who do not have access to the portal, please see the Income and Expense charts provided here.
Notice the HOA Management percentage has significantly reduced. Last year it was 17% of the Expenses, but would have increased to 27% if we moved to a new management company. HOA management operations now account for only 11% of our total expenditures.
We not only prevented our HOA Management fees from doubling this year, we reduced them by 35% from the previous year. This would not have been possible without the significant investment of volunteer hours from your board members and other home owners who pitched in to replace the cost of hiring a new HOA Management company.
