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2019 Assessment Increases

Date: December 14, 2018

As you may be aware, notice of 2019 assessment increases have been mailed. Towards the end of each year expenses are compared against the Associations income. It is during this review that it is determined whether or not an assessment increase is required. After careful review of the Association’s financials and 2019 expenses, an increase in the 2019 assessments was deemed necessary in order to sustain a healthy operating account.

The Governing Documents for the Associations allow for an increase as necessary up to a certain amount without vote of the members. Members are encouraged to and may view monthly balance sheets, income statements and the 2019 approved budget by selecting “Community Documents” and then clicking on “Financials”. This should help all gain a better understanding as to why the increase in assessments was an action that needed to be taken at this time. Assessment increases from time to time are imperative for an Association’s financial health.

Should you have any additional questions regarding the budget, please attend the next scheduled meeting or submit your inquiry via the web submission tool. An Essex Association Management representative will respond promptly.

Verandah Homeowners Association

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