Merrill Pines Condominium Association

It’s Budget Time: Merrill Pines 2008 Annual Budget

Dec 03, 2007

The Board and the Finance Committee is currently working with MAY Management on preparing the 2008 annual budget.

The proposed budget will be mailed to all unit owners on or before November 6, 2007.
When the proposed budget is received, please take the time to look through the entire packet. It will contain the proposed 2008 dues and allocation of the funds.

Many factors have to be considered when formulating our community?’s budget.

Of course there are the obvious expenses: administrative, insurance, vendor contracts, etc. The expenses that are not so obvious also add up.
Unit owners who do not pay their dues affect the annual budget. The current delinquent accounts equal to almost $39,000 (with fees and interest).
The operating budget is solely dependent on the Association?’s dues. So when the dues are not paid or not paid on time, this puts a strain on the budget.

This puts the Association?’s budget in the hole until the dues can be collected. Currently, the budget is almost $6,000 over for the year.
This money must either be recovered or the debt will be absorbed by the entire community.
The Board is currently working with May Management and a collections attorney to keep the delinquent accounts from becoming a burden on the budget. However, we must all do our part and be sure to pay our dues on time.

If you have any ideas or questions regarding the 2008 budget, contact MAY Management at 273-9832 or attend the November 20th Board Meeting: 6:30 PM at the clubhouse.