2022 Community Budget

News

The UPCAI 2022 operating, reserve and neighborhood budgets were unanimously approved at the December 9th, 2021 board meeting.

Below are the details.

Community Operating Expense

The community operating expenses of $3,782,370 were approved.  The result of this expense level is an increase in assessments of $44 per quarter, per lot compared to 2021.  Assessments for the community will increase to $768 per quarter, per lot.  Please note this is for the community association only and not for your neighborhood assessment.  You will want to keep an eye on your email (U.S. postal mail if you have not consented) for a copy of the budget for your specific neighborhood which will include the amount for that portion of your quarterly assessment for 2022.

Increases come primarily from four areas.

  • 38% of the increase is from our management company (PBM) expense due to inflation and increased service demands;
  • 30% of the increase is primarily an increase in Comcast fees – contractually driven and still an outstanding value; 
  • 16% of the increase is from gatehouse operations due to inflation and a tight labor market; and
  • 14% of the increase is primarily from attorney fees as we press to complete the new CCR’s.

Community Reserve Schedule

Funding from assessments of $245,208 was approved.  Resulting proposed funding in assessments is $51 per quarter, per lot.  This is an increase of $19 per quarter, per lot compared to 2021.

Primary drivers of the change in the Reserve Schedule funding requirements are:

  • Manhole Rehabilitation Program;
  • Community Center; and
  • Landscape Master Plan Initiative.

In summary, the total community 2022 quarterly assessment for operating expenses and Reserve Schedule funding is $819 or an increase of 8.3% over 2021.

Neighborhood Budgets

The UPCAI board also approved all neighborhood operations and reserve budgets after securing neighborhood chair and committee approvals on the neighborhood budgets.  A number of neighborhoods used operations’ surplus to offset assessment charges.  Your 2022 neighborhood assessment will be reflected on your first quarter assessment statement along with the community assessment.  Statements will be issued on or around December 15th with a due date of January 1, 2022.  If you have online banking payments scheduled for each quarter, please be sure to update the amount as necessary.