PRESIDENT’SMESSAGE A

s I write this month’s column, we have just finished the budget hearings and work on the financial proposal for the upcoming fiscal year. Sun City Summerlin’s year runs from July 1 through June 30, so it is put before the Board for acceptance at the April Board Meeting and then presented to our homeowners. At a total of nearly $24 million dollars, it is no small task to construct an appropriate budget for our community.

The budget process starts with each department director meeting with our Director of Finance and Executive Director. A comprehensive narrative and fiveyear history of each line item is next detailed. It then goes to the Finance Committee and the Board of Directors for input, questions, review, and adjustments. Once completed, it proceeds to a Board vote to accept, and then to all homeowners to be ratified and adopted.

The fiscal year 2024 budget consists of three parts. The largest portion is for the Operating Budget. This covers all the revenues and expenses required for the day-by-day and month-to-month operation of our HOA. Next is the portion categorized as Reserves. Reserves are our hard assets such as equipment and facilities that need replacement or updates. Finally, there is an allowance for New Capital. This consists of improvements or new additions that were not previously included in Reserves, but that are needed to meet the needs of our owners and to keep our community competitive and up to date.

When added all together it forms the basis for the total revenue less the total expenses. Our HOA operates based on matching those two numbers so that we end the year neither too short of funds, nor with too much excess. The total also determines what the annual assessment will be. That is the number that most homeowners focus on as it is the most visible part of their commitment to live here.

As some may remember, there was no increase in the annual assessment for 2021 and 2022. The Board attempted to hold the line on any increase as we all dealt with COVID-19 and its influence on our community (and the world around us). That resulted in the need for a significant catch-up increase in 2023 of nearly 20%. With the rampant inflation we have all experienced during the past year, we could have easily had another substantial increase in store. There are many expenses (gas, water, wages, food) that have affected us as individuals, as well as our HOA.

As you will note when you receive the budget proposal, the increase for 2024 has been held to just under 5%. The Operating portion has increased by only $31 per year. And the Reserve increased by only $6 per year. We will also be investing in more upgrades and enhancements to our community. So, this year, unlike last year, $60 of the assessment will be for New Capital items. Bottom line, we are proposing an increase that will have your monthly assessment go from $165 to $173, or less than $100 per year.

Staff

Mitzi Mills, Editor, MitziM@suncitylv.com

Gail Abrams, Magazine Coordinator

GailA@suncitylv.com · (702) 966-1436

Eileen Dorchak, Administrative Coordinator

EileenD@suncitylv.com · (702) 966-1435

Advertising, Website, Marketing Kelly-Mae Mahoney, Advertising Coordinator KellyM@suncitylv.com · (702) 966-1434

Stacie Coppens, Website & Marketing Coordinator · StacieC@suncitylv.com

Editorial Board

Richard Becker, Stu Gershon, Molly Sher, Alan Spector,PattiTripp,NormanWrightandBODLiaison, LeoCrawford.

Mission

The Link is the official record of Sun City Summerlin Community Association, Inc. The primary mission of the magazine is to provide residents with information on official Association business. In addition, the Link provides unbiased communications to residents on community news, events and services. The Association provides this publication for informational purposes only and neither endorses nor promotes any of the products or services advertised herein and assumes no responsibility or liability for the statements made in this publication. We reserve the right to edit, condense and verify all articles.

Classified Advertisements

June deadline is May 1. Advertise your items for sale at $2 per line based on the required Classified Advertisement Form. This service is restricted to residents only and if space is available. No business advertisements are allowed. Classified ad forms are available at Mountain Shadows Community Center and on the websitewww.suncitylink.com.

Credits

Link layout: Jeffrey Young Design. Cover photos of Aquacize Club, Arthritis Club, Swim Club, WateRobics Club and Zoom Zoom Club courtesy of Gail Abrams.

Notice

All advertisers are required to provide the Link with an up-to-date copy of their business license. The license must be from the State of Nevada,ClarkCounty,ortheCityofLasVegas.

John Berthelsen, President

Sun City Summerlin Board of Directors

We hope that you agree that this is an appropriate budget and a solid plan for us to move forward. Feel free to reach out if you have thoughts to share.

© Copyright 2023, Sun City Summerlin Community Association, Inc. This publication may not be duplicated in whole or in part without the express written consent of the Sun City Summerlin Community Association.