The THOA Board had a very productive meeting last Sunday, November 20, 2016. John Mackenzie of Secure Association Management (Secure) gave a detailed report of ordinary maintenance and capital improvements. Then, we reviewed the Reserve Study by Criterium-Dotson Engineers, discussed upcoming capital improvements, and approved the 2017 Budget. The Board thanked John Mackenzie for dramatically improving financial reports and collecting on many delinquent accounts bringing the balance from $11,992.00 when our Acclaim Management contract ended on March 31, 2016, to $5,888.75 on October 31, 2016. In seven months, Secure collected $6,103.25 for the THOA. Needless to say, the Board is very pleased.
Because of the many anticipated capital improvements in 2017, the Board voted to increase the monthly assessment by five percent (5%) as allowed by the Deed Restrictions (page 5, section 5 – vol. 1162, page 405). Dues will increase to $210.00/month per home starting January 1, 2017. This increase will facilitate capital improvements necessary to maintain the new insurance policy and begin the list of improvements outlined by the Reserve Study.
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Sincerely – Timberidge HOA Board