HLV 2023 HOA Fees

Attached is the approved budget that was voted on by the board yesterday. Our goal is to keep you informed with all the transparency we can and in a timely manner.

The board has kept the monthly assessments, and therefore the annual income, the same for HLV in 2023. We will operate within our means the best that we know how. Just like any other small business we will make the decisions we need to, staying within our means. The increase to your cash payments monthly will be because of the escrow accounts we established in 2021. These trash and cable escrows will increase for 2023, not the monthly assessments for our HOA. Remember that your monthly cash payment is comprised of two amounts: the monthly assessment and the escrow amount. In 2023 will be the third year for this method of payment.

I normally would wait until later in the year to prepare a budget and have more of this year behind us to see where we stand. However, in the past 20 months we have been able to stick to within our means, and also we wanted to get this completed before the transition to a new managing agent begins.

The key financial changes for the 2023 budget are: we reduced the amount funding the operating reserve by $10,000 for the year, and we increased the amount funding the major replacement reserve by the same $10,000 for the year. The funding of the monthly amount into the temporary roof reserve will stay at the 2021 and 2022 levels again in 2023.

This the third year in a row that the monthly assessments have remained the same for both the one car garage and the two car garage homes. We have no idea if it can happen again, so please do not expect it.

2023 Payments

One car garage homes:   monthly assessment $392

monthly escrow        $ 63

total monthly cash payment  $455

Two car garage homes:   monthly assessment $490

monthly escrow       $  63

total monthly cash payment  $553

Please remember that these are the amounts that become effective as of the January 1st 2023 payment, not before.

I have attached the 2023 annual budget for your information. If you have any questions please reach out to me.

Tom Duerr

Treasurer