Master Association Board Adopts 2019 Budget with $1 Dues Increase
The Master Association Board adopted the 2019 budget on Wednesday, Nov. 7. The budget is available electronically on the Budgets & Reports page. Paper copies are available at the Ranch House. The budget includes a $1 monthly dues increase, making the 2019 monthly dues:
- $53 per month for residential properties
- $41 per month per apartment unit
- $37 per month per acre for commercial properties
Total revenue is expected to be $3,918,000. Total expenses are projected to be $3,644,000 plus a reserve fund contribution of $250,000 and $24,000 for contingency. Total reserve fund expenditures are planned to be $223,890. The $1 increase generates approximately $60,000 in additional revenue. These funds will offset the increased costs of service; for example, the cost for the trash/recycling program is increasing by $31,000 and insurance costs are increasing by $6,000. There are also several planned one-time budget items for 2019. The Master Association will temporarily decrease funding for irrigation and drainage projects in order to not raise the dues more than $1. This would allow the Master Association to help with Ranch House Pool funding, which is estimated to cost $4 million.
The Master Association will hold a budget ratification meeting of the Master Association’s owners:
Tuesday, Nov. 27 at 6 p.m. at the Ranch House
7676 S. Continental Divide Road, Littleton, CO 80127
This ratification meeting after the budget adoption is a new requirement in 2018 for homeowner associations in Colorado per the Colorado Common Interest Ownership Act. Owners in the Master Association are encouraged to attend the meeting and/or submit any comments/suggestions to Chris Pacetti at email@example.com or 303-979-1876, ext. 116.