The 2024 Operating Budget has been voted in by the Board of Directors on Thursday, November 16, 2023. Please see the budget in its entirety below. Copies are also available at the Association Office. Should members have questions, we invite you to connect either via email or in person. email@example.com
We have adjusted our 2024 budgeted insurance line item to reflect the changes received today, November 6, 2023 from our Commercial Insurance Broker, USI. For the term 12/1/2023 to 12/1/2024 the premium increased by 7.42%. The annual premium is split between two payments, one due by December 1st of the current year and the other by January 1st of the following year. This year, the payment schedule is a 50/50 split. In the past, the Association has paid a smaller increment in November with the remainder due in January.
As the time draws near, we are ever fine-tuning our Draft 2024 Operating Budget. The areas of adjustment are reflected within the November 3, 2023 Draft and are as follows:
- Association Dues and Subscriptions: An increase notice was received for our newsletter software. $5.50 per month has been added to the line item.
- Golf Cart lease rate adjustment: Quoted rate was 7.2%, current rate is 7.65%. Lease will not be signed until 30 days prior to delivery. Delivery date is unknown. Expense line was adjusted to allow for forgiveness of unknown rate.
- Employee Vacation buyout: Employees can cash out any PTO hours over 40 at any time. Any amounts in excess of 120 hours on the final pay period for the year are to be paid out to the employee on the last paycheck of the year. Estimated cash out hours have been included and reflected within the 2024 gross payroll.
With continued discussions, the Board of Directors have adjusted one aspect of the 2024 operating budget and fee schedule as of October 30, 2023. The Junior Member Season Pass has now been reduced to $100.00. This small reduction is reflected on the updated 2024 Fee Schedule draft along with the same line item within our draft operating budget. Please see the updates below. The Board of Directors has begun to finalize the the entirety of the budget so that a presentation of the same can be ready and available for member review at our upcoming Workshop and Board of Directors Meeting on November 14th and 16th respectively.
We are pleased to share our first phase of the 2024 Operating Budget. The following documents were used in the collaboration of the first draft and were provided to our membership at the Board of Directors Meeting on Thursday, October 19, 2023.
Should questions arise, we welcome an open dialogue with all members to promote a greater understanding of our operations. As always, our General Manager, Keri Sweet is available to assist each member of our community. As a proponent of open conversation, Keri remains steadfast in providing all members further clarity on the collaborative efforts that comprised the creation of the budget along with the whys behind the figures.