By unanimous consent of the Board, a ten percent (10%) increase in the Annual Assessment was approved during December 2, 2014, Regular Meeting of the Board. This is an increase of $29 bringing next years annual dues up from $290 to $319. While the Association runs on a fiscal calendar from October through September and while homeowners are billed for the Annual Assessment in June, the Assessment actually begins on January 1, which is the Board is required to vote in December.
Article 4.3(b) grants the Board the sole and exclusive authority to increase the annual assessment each year by as much as 10% over the preceding year’s annual assessment. Any increase over and above that increase must be by expressed approval by the Members in writing.
