The Board wants to make members aware that before last October’s Annual Meeting the Board had increased the annual dues by 10%, however, the management company did not include that in the statement mailing that hit mailboxes last week. Goodwin & Co. has agreed to pay the cost for a 2nd mailing to correct this oversight, which is going out this week.
Category Archives: Financials
The financial books and records of the Association.
10% Annual Assessment Increase Approved for 2015
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.
Notable Changes to Texas Property Code
The 2011 Texas Legislature enacted major changes to the Texas Property Code, especially as it relates to HOA’s. These changes, most of which went into effect on January 1, 2012, have had a dramatic impact on Quail Creek and the manner in which we are governed. These changes have been highlighted in the attached document.
