A Proposal was made to our HOA Board to create a "Finance Committee" to help oversee and manage our Finances. One "Task" of that Finance Committee would be to create a "Capital Budget" for Expenses to upgrade and maintain our "Infrastructure" (Streets, Common Areas, Community Asssets owned by the HOA) for the next TEN Years and to keep that Budget Updated so that it is "Funded" each Year by Owner Assessments or other means of producting "Revenue" (for example, by selectively selling certain assets). What are your thoughts?? Pass this along to every Owner in Sea Palms West for their review and response. Protecting our Assets and the Value of our Homes is vital ... and something for all Owners to provide input and to participate in our future.
Capital Improvement and Our "Reserves"
Updated: Sep 25, 2024
Our Reserves have never been "Budgeted" in a Capital Budget as called for in our CCRs / Bylaws. There has been reference to a "Reserves Study" done in 2022 that would be included in a "Strategic Plan" for the Community. It's time to put all that together in to a formal "Finance Committee", made up of Owners with Business, Project, Finance, Real Estate, HOA Experience ... and assign that group to put tother a solid 10 Year Financial Plan. A Topic for the next Board Meeting and again at the Annual Meeting when current year Finances are reported and reviewed. If you are interested in serving or want to know more, send email to seapalmswestcom@gmail.com and Post your own …