DUES INCREASE DISCUSSION AT SAHA BOARD MEETING, SEPTEMBER 21
There will be a discussion about increasing the HOA dues at the September 21 Board meeting. Please plan to attend. Here is a note from your Treasurer, Jody Kershberg:
An annual Dues increase and the SAHA Reserve Funds status will be presented for discussion at the September 21, 2021, Board of Director’s meeting.
Via a 2021 ballot advisory item, the majority of owners voted down any dues increase.
However, there is a fiduciary responsibility to address the ongoing decline in reserve funds.
To review a summary discussion and projection worksheets regarding this issue, please log in to the Summit at Autumn Hills website under SAHA Homeowners > SAHA_Financials > 2022 Reports to locate the following document:
SAHA 10-Year Projection Scenarios_2022.xlsx
As of 2020, SAHA’s percentage of full reserves funding was less than 30%. A good rule of thumb is for reserves to be funded at 70% or higher, but the ultimate goal is to reach 100% funding.
Current projections show that a dues increase of $1,000 (double the current amount) is required to bring Reserves up to meet the 70% or higher threshold.
Reminder of our SAHA monthly meeting login info is on the website Calandar and the meeting adenda is in the drive.
SAHA SEPTEMBER MEETING
Monthly BOD Meeting
Tuesday, September 21 · 7:00 – 8:30pm
Google Meet joining info
Video call link: https://meet.google.com/nga-pdoq-vkp
Or dial: (US) +1 727-231-6841 PIN: 162 073 028#