LAUREL CREEK January 2015
Official Newsletter of the Residents of Laurel Creek
LAUREL CREEK
Volume 2, Issue 1
Assessment Increase
The Board of Directors for Laurel Creek Neighborhood Association reviewed and discussed the current financial status of the Association and its future financial obligations. In doing so, they have established a budget and concluded that the 2015 assessment rate would need to increase to $800.00. The Association Bylaws provided for the collection of assessments to maintain the quality of the Association and charge the board of Directors to exercise fiscal responsibility and sound financial management in that undertaking. In setting the assessment, the Board of Directors carefully considered all of the costs involved in running the Association as well as the necessary reserves for the future replacement of our common area property. The Association’s current responsibilities include maintaining the assets of the community such as the pond, playgrounds, gazebo, holiday patrol and entry, providing liability and property insurance on the assets, landscape maintenance to the common areas, paying for the street lights that illuminate the subdivision at night, hiring a management company to handle the day-to-day
operations and many other small, but significant expenses. In the coming year the board will be using a portion of the budget for installing a new fence and to continue working on the pond project and to commence the needed tree trimming along with any delayed maintenance. The assessment rate is necessary to ensure a quality of care that will maintain property values. In order to avoid the late fee of $35.00 and penalty interest, all assessments must be received and/or post marked no later than January 31, 2014. Payments received after that date will receive the applicable late fee and interest as well as other costs associated with collecting the past due assessments which may include, but are not limited to, past due notices, certified letters and attorney fees. If you would like to review the financial status of the Association and receive a copy of the latest financial statement, please feel free to e-mail Sterling A.S.I. at servicedesk@sterlingasi.com. Your Board of Directors
MERRY CHRISTMAS AND HAPPY NEW YEAR! Copyright Š 2015 Peel, Inc.
Laurel Creek - January 2015
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