On Wednesday afternoon, March 13, we had a ribbon-cutting to officially open the Pickleball Court.
The event marked yet another addition to our many recreation center amenities. It’s sometimes hard to relate our annual assessment fee, currently at $425 per lot, to the many amenities and services we get for that money. We might be inclined to ask, what is my ‘bang for the buck’ of that fee? Good question, let me have a shot at an answer. First, the Association annual budget sits right at about $2 million, all categories of funds. The major categories of money include;
• Staff salaries, benefits; $720K
• Administrative Cost (software, taxes, mailings); $300K
• Regular Maintenance & Repair; $217K
• Reserves & Cap. Expense; $465
• The remaining ~$300K is split into numerous budget elements.
The budget covers all operations for our entire fiscal year which runs January to December. That budget covers, first and foremost, the staff at the recreation center including the maintenance staff who work out of the maintenance building. The sole purpose of the staff is to serve the membership and manage the many facilities. All of the work they do happens south of Hwy. 98. The one exception is the Architectural Office who attend to the needs of enforcing the covenants within the community, north of 98. The maintenance staff, on occasion, will assist with some specific tasks in the community but the lion’s share of their work occurs on the common properties. The community is actually functionally split by 98, common properties in the south and member homestead up north. That’s why we’ve organized the board with a VP North and South so those Directors can focus on their areas of responsibility. You might ask; But what’s in it for me? I don’t use the recreation center. Also, a fair question. Your property value, your equity, is higher because the community has an HOA and these amenities. Just ask any realtor. As an association we are growing like gangbusters. We continue to endeavor to grow our facilities to account for community growth. We’ll talk about that at a later date.
How does our $425 fee compare with the greater Navarre area? Here’s a recent small comparison of HOA or Condo fees prevailing within the Navarre area;
Let me answer our opening question; I do believe we get an enormous bang for our buck when it comes to the amenities, and we are a great bargain considering the fees charged to members in other local HOAs and condos.
To close, let me encourage you to participate in our budget call process. The budget is developed as the first responsibility of each new Board of Directors. Thus, this September, come out and see how we craft next year’s budget, your input and insights will be invaluable.
President, HBTS HOA
March 18, 2019