February 2015 Newsletter
The Beacon Knoll Homeowner’s Association held its annual meeting on January 25. The purpose of the meeting was to review and approve the budget for 2015, elect new Directors for the Beacon Knoll HOA Board, and review other issues regarding Beacon Knoll. Below is a brief summary of the meeting and other items that the Board would like to highlight for the coming year.
2015 Budget -The proposed budget for 2015 was approved without issue. Dues for 2015 remain at $580 per year payable in two installments. The first installment was due January 1 and the second will be due July 1. The total budget for 2015 is $93,385 with projected revenues of $93,598.
Beacon Knoll Financial Overview and Forecast – The Board reviewed a summary of the financial position and forecast for the Association. In general Beacon Knoll has approximately $83,000 in regular expenses each year for utilities, pool and clubhouse maintenance, insurance, etc. One time expenses for capital expenses such as the repair of the parking lots, HVAC system replacement, etc., have been averaging approximately $10,000 per year in recent years. With an annual income of just over $93,000 the Association has been maintaining a small capital reserve ranging from $10,000 to $15,000. Going forward the Board has developed a 10 year projection of one time capital requirements for items such as replacement of the clubhouse roof, major pool items, neighborhood improvements, etc. The Board anticipates these will average up to $12,000 over a 5 to 10 year period. This may require a dues increase in the coming years to properly fund these requirements.
Board of Directors Elections – The Board of Directors had two vacancies for 2015 and two new Directors were elected. These were Marilyn Martin and Alan Carey. The Board for 2015 will be comprised of:
Key Initiatives for 2015
Website and Email For HOA Communications – The Board is working toward improving the existing HOA website (BeaconKnollHOA.com) and to update email addresses for all HOA members to help improve our ability to provide up to date information regarding the HOA. The Board asks that everyone provide your current email address to the Board by updating your information on the website or by contacting a Board member.
Upgrades to the Landscaping for Beacon Knoll – The Board is currently working on several projects and has several planned for the year. These include:
Landscaping the entrance to the clubhouse
Working with Edwards Lawn Care to improve the appearance of the medians
Working on the areas near the lake to improve access and remove some smaller trees and brush
Beginning a walkway from the Villas to the pool and clubhouse area.
Upgrading the security barrier near the tennis courts to a nicer looking option. The barrier has significantly reduced the use of the back parking lot by non HOA members that were resulting in security concerns for our residents.
Late and Past Due Accounts - The vast majority of the HOA members pay their dues on time. However, the HOA has a few accounts that are past due or chronically late. The Board is taking steps to address each of these accounts.
The Board would like to remind everyone that the HOA Board of Directors meets the second Tuesday of each month. Please let us know if you have any questions or concerns.
Thank you for being a good neighbor, having pride in your home and in our neighborhood!