BUDGET MEETING NOTICE
BUDGET MEETING NOTICE
DATE: Thursday, May 30, 2019
TIME: 7:00 PM
MEETING PLACE: The Clubhouse
5255 Cypress Court
Orlando, FL 32811
The purpose for this meeting is to conduct any lawful business which may come before the Board of Directors and to approve the following agenda item:
- Proposed Operating Budget – July 1, 2021, to June 30, 2022
Your volunteer Board of Directors and Association Manager have worked very hard to present a budget that we believe is fair and accurate, while addressing the issue of delinquent owners, increasing utilities, and keeping operating costs down. Please take time to review it.
The proposed budget calls for increase of the maintenance fee from $297.00 to $312.00 which is a 5.05% increase from current year. As you review the budget, you can see that the primary drivers for this increase are as follows…
- Replenish reserve funds that were expended this year for concrete drives restoration on Cypress, Coral, Willow, and Bamboo Courts. While completing this work, we found that our concrete drives are much thicker than the standard code required 4” depth that we planned for which created overruns on the cost of this project.
- Collection of Reserve funds needed for the remainder of concrete drives restoration as well as fence replacement. Unfortunately, the cost of wood, concrete, and other building components has skyrocketed over the past year. The bids that we obtained with hopes to begin the fence replacement this year clearly identified that we need to budget more money for this reserve item. Additionally, in the current market, Cypress is not an available product. It is our hope that delaying this project for 2 years and budgeting a more realistic cost will allow us to replace with Cypress vs. Pine and will allow time for prices to come down as more product becomes available in the market.
- Increased our Operating Budget for General Repairs in anticipation of needing to repair more fences due to the delay in replacement.
- Loan for the shingle project (payoff February 2028).
- Increase in Legal expenses primarily driven by non-compliance with rules and bylaws.
- Increase in Insurance.
BUDGET MEETING NOTICE
DATE: Thursday, May 30, 2019
TIME: 7:00 PM
MEETING PLACE: The Clubhouse
5255 Cypress Court
Orlando, FL 32811
The purpose for this meeting is to conduct any lawful business which may come before the Board of Directors and to approve the following agenda item:
- Proposed Operating Budget – July 1, 2021, to June 30, 2022
Your volunteer Board of Directors and Association Manager have worked very hard to present a budget that we believe is fair and accurate, while addressing the issue of delinquent owners, increasing utilities, and keeping operating costs down. Please take time to review it.
The proposed budget calls for increase of the maintenance fee from $297.00 to $312.00 which is a 5.05% increase from current year. As you review the budget, you can see that the primary drivers for this increase are as follows…
- Replenish reserve funds that were expended this year for concrete drives restoration on Cypress, Coral, Willow, and Bamboo Courts. While completing this work, we found that our concrete drives are much thicker than the standard code required 4” depth that we planned for which created overruns on the cost of this project.
- Collection of Reserve funds needed for the remainder of concrete drives restoration as well as fence replacement. Unfortunately, the cost of wood, concrete, and other building components has skyrocketed over the past year. The bids that we obtained with hopes to begin the fence replacement this year clearly identified that we need to budget more money for this reserve item. Additionally, in the current market, Cypress is not an available product. It is our hope that delaying this project for 2 years and budgeting a more realistic cost will allow us to replace with Cypress vs. Pine and will allow time for prices to come down as more product becomes available in the market.
- Increased our Operating Budget for General Repairs in anticipation of needing to repair more fences due to the delay in replacement.
- Loan for the shingle project (payoff February 2028).
- Increase in Legal expenses primarily driven by non-compliance with rules and bylaws.
- Increase in Insurance.
Board of Directors
President
– Ruby Bussinger
Vice President
– Britta Jarvis
Treasurer/Secretary
– Joyce Steinhardt
Board Members
– Wui Goh
– Mary Hawks
– Andrew Robinson
Property Manager
-Keith Kiebzak
We are proud to say that Middlebrook Pines continues to be regarded as a beautiful and well maintained property with increasing property values, and are highly sought after in the local real estate market The proposed budget for next year reflects the commitment by the Board of Directors to strategically focus on property maintenance and repair with little spent on enhancements. Our focus for the coming year will be concrete restoration for balconies where needed including repainting of all balcony railings. This work needs to be completed before severe damage occurs to balconies due to age. We also currently plan to move forward with the concrete drive repair on Elm Court, dependent upon what occurs with the cost of concrete in the market.
The Board expects to approve the enclosed Proposed 2021-2022 Budget at this meeting. Members will have an opportunity to ask any questions at that time.
Sincerely,
Middlebrook Pines Board of Directors