Hi everyone, tomorrow (Monday, September 18th) at 6pm at the Community Center, the Wolf Creek Board of Directors will be meeting to discuss several important items. You are welcome to attend and provide your input to the Board.
The first item is a proposed approximately $2.00 increase in our monthly dues. As you know, it has been one of the highest priorities of our Board to maintain the community to like new while keeping our dues as low as possible. This past month, most of our major vendors have advised Wolf Creek that they need to raise their fees by 5% starting October 2023. This is the second and for some vendors, third wave of increases over the past few years which we were able to absorb. The California Association Institute recommends a minimum of 2 months of operating funds for non-budgeted items that may arise. Wolf Creek is budgeted to spend $90k/month so that would be $270k for the remainder of the year in operating costs. As of August 31, 2023; Wolf Creek has $461,513 in operating funds with a projected $270k in expenses to end the year with a balance of $191,513.00 or 2.1 months of expenses held in our operating funds. Wolf Creek has in the past kept approximately four to six months of operating expenses on hand in our operating funds which has helped the Board to perform some of the major repairs we have in the past without an emergency assessment or dues increase. The Wolf Creek Board will meet to discuss this together for the first time on Monday at 6pm. Like you, I don't know whether they will hold the dues for one more year and lower our operating funds or choose a dues increase of approximately $2.00/month to maintain a strong operating budget. Again, members of the Association (owners) are invited to attend the meeting and to speak with the Board their preferences.
The next item of business will be the re-organization of Officers for the Wolf Creek Board. Each year, the 5 Wolf Creek Board members elect who will serve as President, VP, Treasurer, Secretary and member at large. Again, this is your opportunity to guide the Board in their choice of leadership.
The first item is a proposed approximately $2.00 increase in our monthly dues. As you know, it has been one of the highest priorities of our Board to maintain the community to like new while keeping our dues as low as possible. This past month, most of our major vendors have advised Wolf Creek that they need to raise their fees by 5% starting October 2023. This is the second and for some vendors, third wave of increases over the past few years which we were able to absorb. The California Association Institute recommends a minimum of 2 months of operating funds for non-budgeted items that may arise. Wolf Creek is budgeted to spend $90k/month so that would be $270k for the remainder of the year in operating costs. As of August 31, 2023; Wolf Creek has $461,513 in operating funds with a projected $270k in expenses to end the year with a balance of $191,513.00 or 2.1 months of expenses held in our operating funds. Wolf Creek has in the past kept approximately four to six months of operating expenses on hand in our operating funds which has helped the Board to perform some of the major repairs we have in the past without an emergency assessment or dues increase. The Wolf Creek Board will meet to discuss this together for the first time on Monday at 6pm. Like you, I don't know whether they will hold the dues for one more year and lower our operating funds or choose a dues increase of approximately $2.00/month to maintain a strong operating budget. Again, members of the Association (owners) are invited to attend the meeting and to speak with the Board their preferences.
The next item of business will be the re-organization of Officers for the Wolf Creek Board. Each year, the 5 Wolf Creek Board members elect who will serve as President, VP, Treasurer, Secretary and member at large. Again, this is your opportunity to guide the Board in their choice of leadership.
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