Issue link: https://imageup.uberflip.com/i/902374
22 FOUR SEASONS BREEZE | DECEMBER 2017 HOW IS OUR HOA FEE USED? The monthly HOA fee is used to maintain and operate the common properties owned by the Association. This is accomplished by allocating our Fee to a Capital Reserve Fund and the yearly operational budget. The $210 HOA fee that we pay each month distributes $50.66 to the Capital Reserve and $159.34 to the Operational Budget. WHAT IS THE CAPITAL RESERVE? The Capital Reserve is specifically designated funding for replacement of common elements as they become old, worn and beyond serviceable life. Examples of these common items would include, flooring/carpeting, chairs, road resurfacing, repainting facilities, pool pumps, etc. We have a great many of these when you consider the number of buildings, pools, roadways/sidewalks, sports courts, and the associated furnishings. A Capital Reserve fund is established following a well-defined process of identifying all the common items, determining life expectancy and estimating replacement costs. Funds are set aside to be available when replacement is needed in the future. This process alleviates the need to assess homeowners every time funding is required to replace common elements. It should be noted that these funds cannot be used for normal maintenance and repairs or to purchase new items that do not exist on our current property inventory. The Four Seasons Capital Reserve is sufficiently funded to meet our needs. WHAT IS THE OPERATING BUDGET? The Operating Budget is utilized for the day-to-day operations – maintenance, repairs and upkeep of the existing facilities and property. The budget is comprised of the following major line items: 1. Fixed costs 2. Landscape 3. General Maintenance 4. Pool Maintenance 5. Repairs and equipment 6. Utilities 7. General and Administration As previously discussed in a Breeze article, the budgeting process for the next year begins in the middle of the current year. Expenses are tracked, cost changes are estimated, and a new budget is prepared for BOD approval. The budgeting process will determine whether there is a need to adjust the HOA fee. A frequently asked question is: Where is there funding for new items that the Association does not have? For example, additional AED units throughout our facilities. A small portion of the Operating Budget has a line item for new, unidentified expenses. When new items are proposed, the Finance Committee will verify funding availability and recommend to the BOD. The BOD will approve based on priority criteria. ~ Barry Ginnetti There are quite a few homeowners with dogs and, as we see everyday, they love their walks; both the dogs and their owners. We also know what a pain it is to clean up after your dog when it leaves a deposit in someone's yard. So we have formed a committee who's job it is to patrol the streets and front yards of Four Seasons. We're looking for members who: • Enjoy the outdoors • Have a small spade/shovel • Like dogs • Have good eye-sight • Don't mind weird smells • Own walking shoes • Have bags • Enjoy wearing latex gloves So if this sounds like you, please join us every morning, rain or shine. We meet at the Lodge Parking lot at 6 am and will patrol until 11:30 am when we take a lunch break at Smitty's. We resume at 12:15 pm and will patrol until it is dark. At that time, flashlights will be distributed. If you have a hat with a light, that is also very helpful. We finish our patrol at 12 midnight. Be sure to dress for the weather and bring umbrellas when necessary. Cat poop will not be picked up. There is a seperate Cat Poop Committee that is being formed for that purpose. Finance Committee Dog Poop Committee