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"Show me the money" - 2023 Budget Season at Fairway Springs

It's that time of year again, when, as a community, we have to talk about money. The Fairway Springs fiscal year runs from October 1st to September 30th each year and it is the Board's responsibility to produce a new budget for next year.

The annual budget board meeting is scheduled for 6.30pm on Wednesday 31st August, 2022 and will be hosted in the clubhouse. All homeowners are invited and encouraged to attend.

Why should you care?

The budget we produce matters to you and your household because it is the budget that determines the next years HOA Dues and any one time assessments.

What can you expect?

The Board's Treasurer will present to the board items affecting both the OPERATING BUDGET; that is the finances affecting the day to day, month to month, operations of the community management and also the RESERVE BUDGET; that is monies that have to be set aside for long term, bigger, repair, replace or invest projects.

Expect to see a review of last years budgeted numbers, by category, the actual spending across those categories, discussion about major exceptions (where a material increase or decrease occurred), discussions about desired outcomes requiring funding and eventually the announcement of the new HOA dues for the 2023 Fiscal year. Once presented, the Board will vote on whether to accept the new budget, or not.

What if you don't like what you hear?

It's not impossible that some of you will be disappointed, maybe even "up-in-arms" about what you see and hear during the meeting. Discussing money always has the ability to charge emotions. Some will be delighted, or OK. Some will be resigned or simply not care. Whichever camp you sit in, there is only one way to change it in the future and that is for you to get involved.

Whether that involvement is rallying neighbors, writing letters (emails), building arguments and counter-arguments, attending and speaking up at meetings or running for a board position you should get involved. We welcome involvement and engagement from our community.

In fact, we'd prefer it. A disengaged, unengaged and apathetic community could mean the end of our HOA, at which point we fall into disrepair, property prices drop, quality of life declines, crime and neighborhood hostilities increase and we become just another "bring your boats and RV's" neighborhood, with all that that entails.

A reminder:

This is OUR community. Our community is a Deed Restricted community that exists to keep to preserve home values by ensuring the community remains in good shape. Performing these tasks costs money: Our money. Our Board has been tasked with the responsibilities and obligations of using our money optimally.

Our Board consists of volunteers from within our community. They are your neighbors: They shop where you shop, send their kids to your kid's schools, eat and drink where you do and drive where you drive. They live in our community and want what you want for it. That is for it to be a clean, tidy, safe community where life can be enjoyed, property values are protected and where neighbors greet neighbors warmly and friendships can flourish.

Call for Volunteers

If you would like to volunteer for any of the Board's committees, or become more actively involved in making our neighborhood a better place, please don't hesitate to reach out to anyone on the board or even to our management company and let us know.

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Unknown member
Sep 01, 2022

I'll post all the supporting documents, including a recording of the whole meeting and the minutes, just as soon as we have it all cleanly together. Likely within 24 to 48 hours.

The summary, is that assessments per home for 2023 will be $368. That represents a 15% increase over 2022's budget of $320 and a 7.99% increase over 2022's actuals.

$368 per home, represents $30.67 per month or a fraction over $1 per day, per home.


Unknown member
Aug 27, 2022

I was part of the budget team last year. Please post the detailed account with all the categories the excel spreadsheet created by Dan several years ago. This shows every line item including the reserve funding for each category Including the expected lifespan of each item. That way we can see the whole picture.

I would expect operating expenses to increase somewhat due to inflation

However, the reserves were actually funded in excess based on equipment lifespan with the exception of drainage which we were waiting on the county to take ownership. Unless there was a major change I would expect our dues to remain close to the same.

Honestly, I think that is what everyone wants to know -…

Unknown member
Aug 27, 2022
Replying to

Yes. The budget is fluid until such a time as the board ratifies it by voting. Publishing, in advance, anything that has a likelihood to change, introduces and increases the risk of prematurely creating permanent records of incomplete or incorrect and misleading information. I'm confident you know this.

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