First, a note on the installation of the gates. Prior to the gates, when we had greeters we were spending approximately $34,000 per month for security, mostly labor. With pending increases in the minimum wage this was destined to increase dramatically over the next few years. Now, 1 1/2 years after the gates were installed , the spend rate is running about $17,000 per month!
As promised, our HOA Treasurer has provided some interesting data on how your HOA fees are spent. The following are the biggest YTD expenditures (through October) per household , including the money spent for golf course related items.
Topic Amount Expended ( Rough Amount per household This year to date)
Stonegate (Security) $314,620 586 homes Roughly $541
Associa (Management) $162,641 Roughly $278
Procida (Landscape) $212,186 Roughly $365
Legal (total Non-Golf)* $47,005 Roughly $96
Legal (Golf related) * $8,959 Roughly $15
Total golf course related (2019) ** $55,942 Roughly $95
Delinquencies*** $214,867 Roughly $368
* The legal expenditures are the expenditures we have incurred since January 1.
**The total golf course related includes the legal expenses of $8,959 and the cost of retained experts on the subject.
** * This year to cover for the deadbeats that are delinquent
Hopefully, you will find the above of interest.
Very nice! Thank you. I am sure many homeowners will appreciate this quick, easy to read & understand format. It also, breaks it down int smaller pieces that are easily digestable and more meaningful as it relates to each homeowner on a more personal level. This was a great idea. Great communication overall. 🙂
It is good to see this snapshot of expenses – Thank You! It would also be informative for everyone to see what the Board has spent on legal fees for the golf course since the onset of the issue. Homeowners and the Board would benefit from a running total of legal fees for the golf course. This was promised almost one year ago when the new Board was installed. And finally…………..everyone can easily see that the 3 major costs for our HOA are management (Associa), security (Stonegate and landscape (Procida). It’s difficult to understand why this Board has been renewing these agreements (Associa and Stonegate) without placing them out for an RFP? It’s evident that the major opportunity for savings and improved services for our community is covered by these three contracts!
I suggested this a year ago, and was assured that RFPs were going out “but this takes time.” Cannot imagine it takes this long!
There’s no guarantee that cheaper AND better service providers exists, but I guess it’s worth trying. Even through the RFP process will identify “cheaper”, not necessarily” better”.
I really appreciate the information.
Lance Ward
Thanks for the information. We need to do something about the deadbeats. It is our second largest expense.
Gina, the previous Board had issued an RFP for Management Companies and reviewed about six companies. Before they were able to select a new provider for management services, a new Board was installed and the incoming President extended Associa’s contract.