Image Up Advertising & Design

FOUR SEASONS TERRA LAGO ROADRUNNER | AUGUST 2026 3 Treasurer's Report By Dave Adler We've reached the midpoint of the year, which means planning for the Association's 2027 budget is now underway. Developing the annual budget is a collaborative eort involving the Board of Directors, the FirstService Residential Management Team, and our Association committees. Together, we work to develop a balanced, responsible budget that supports the ongoing operations of our community while maintaining the services and amenities our homeowners value. As you might expect, preparing the budget involves many moving parts. e process begins with an initial dra, followed by detailed review and renement, homeowner feedback during the HOA Budget Town Hall, and ultimately Board approval. e result is a comprehensive nancial plan that helps ensure the Association is well-positioned to meet the needs of our community throughout 2027. To build a sound and sustainable budget, we carefully evaluate a variety of factors, including: • Current and prior-year Association operating expenses • Actual and projected Association revenue, including HOA assessments, interest income, FOB/Sirit Tag purchases, room rentals, and other miscellaneous income • Variances between budgeted and actual expenses to identify trends and improve forecasting accuracy • Anticipated increases in vendor, service, and labor costs due to ination and cost-of-living adjustments • Recommendations from Association committees for enhancements or improvements to homeowner amenities and common areas • Planned capital improvement projects that support the community's evolving needs • Reserve fund balance, expenditures, funding levesl, and future reserve contribution requirements To provide perspective on how Association funds are allocated, the chart below illustrates the major expense categories and the percentage each represents in the 2026 budget. As with any operating budget, actual expenses will uctuate throughout the year. Some costs may exceed projections, while others come in below budget. One of the Board's primary nancial responsibilities is to carefully monitor these variances and manage Association resources responsibly so that actual results remain as close as possible to the approved budget. Once completed and approved, the nal 2027 HOA budget will be distributed to all homeowners no later than 30 days before the beginning of the new budget year, as required. We appreciate your interest in the Association's nancial planning process and remain committed to transparency, scal responsibility, and the long- term nancial health of our community.

• Cover