The BOD has gathered together Budgets and Financial Statements going back to 2019.
In each of these years, 2019-2025, HOA expenses exceeded dues income. Some of the expenses, which include mowing and snow/ice removal and maintenance and repairs of the General Common Elements, Management Company services, Liability and Insurance costs, Mailbox & Sign maintenance and replacement costs and more, have increased. In order to maintain a balanced budget, now and into the future, dues are increased by $50 starting with this 2026 Annual Association Fee year. The BOD’s goal is to meet HOA expenses, return money to the required savings account and prepare for future needs. We will continue to look at expenses and do cost comparisons, as we just did for our landscaping services, in order to be financially responsible.
Point of Reference: (The last HOA Fees increase was almost 7 years ago in July 2019 when fees increased from $100 to $150)
STARTING BALANCE as of 1.1.26
Checking Acct
$162.43
Reserve Acct
$9,881.64
Income
INCOME
Dues set at $200.00 per unit
Association Fees – 92 Units
$18,400.00
Reserve Acct/CD Interest
$13.00
Checking Acct Interest
$7.00
Late Fees
$0.00
Other Income – Delinquent Dues
$1,090.00
TOTAL INCOME
$19,510.00
Expenses
ADMINISTRATIVE EXPENSE
Accounting
$230.00
Permits and Licenses
$20.00
Management & Admin Fees
$5,520.00
Postage
$225.00
Copies/Printing
$100.00
Web Site
$60.00
Misc Expense
$130.00
Audit Fees
$500.00
Social Events
$150.00
TOTAL ADMIN EXPENSE
$6,935.00
GROUNDS & LANDSCAPING
Snow Removal
$1,204.00
Lawn, Fert, Trimming
$7,000.00
Mailbox Repainting 2026 only
$500.00
Culvert Clean Out
Landscape Maint/Entrance
Mulch
Tree Service & Replacements
Flower Committee/Decorations
Road Repairs
Street Lights
TOTAL MAINTENANCE & REPAIRS
$8,704.00
TAXES & INSURANCE
Liability and D&O Insurance
$995.00
Workers Comp
Income Tax
TOTAL TAXES & INSURANCE
$995.00
Totals
TOTAL GROSS INCOME
$19,510.00
TOTAL EXPENSES
$16,634.00
NET OPERATING INCOME
$2,876.00
Notes
State of Michigan requires the HOA maintain a minimum reserve of 10% of the operating budget.
Blank line items are items not currently budgeted for but may be encountered as expenses later.
Maplewood Farms - Saline, MI 