By Kristin Lahey, Treasurer

 

The Courtyards at Southpoint Finance Committee reviewed the HOA’s 2027 draft budget at its Sept. 1 meeting and made several amendments before submitting it to the Board of Directors for review Sept. 8.

 

The board subsequently approved the budget proposal, which will be distributed to all homeowners as part of the annual meeting packet, delivered by both the U.S. Postal Service and email. We are pleased to report the approved 2027 HOA budget proposal requires no increase in HOA dues for 2027.

 

At our annual budget-review session Sept. 23, we walked through the budget line by line, explaining our anticipated operating and reserve expenditures, and answering homeowners' questions.

 

The 2027 budget will be presented for ratification at the annual meeting Oct. 12.

 

Finance Committee activities also include:

 

• Insurance Coverage Review – Sept. 22

The HOA board met with our insurance agent and William Douglas Property Management for a comprehensive review of the HOA's property, liability, and directors and officers insurance policies.

 

Our goal was to take a fresh look at our coverage, evaluate the adequacy of our policy limits and ensure compliance with the insurance requirements outlined in our Declaration of Covenants, Conditions and Restrictions.

 

• Development of an HOA investment policy

The Finance Committee will begin work on establishing a formal investment policy to guide how the HOA manages and invests its operating and reserve funds. The policy will establish clear guidelines regarding appropriate investment vehicles, investment timing and the management of available funds.

 

Our objective is to maximize investment income while preserving principal and maintaining sufficient liquidity to meet the HOA's ongoing operating expenses and anticipated reserve expenditures. This policy will help ensure our investment decisions are consistent, prudent and aligned with the association's short- and long-term financial needs.

 

We welcome your input!

The Finance Committee remains committed to responsible financial stewardship, transparency and ensuring our HOA funds are managed in the best interests of our community.

 

We welcome your questions, ideas and feedback, and new Finance Committee members always are welcome! If you have an interest in helping guide our community's financial future, we would love to have you join us.