We have been able to hold our dues at $84 per month for four years. Due to the damage from the December rains, which totaled about $185,000, and increases in prices in our costs, we need to do a mid-year budget adjustment. The board looked at numerous scenarios for raising funds to rebuild our reserves and to cover our month-to-month expenses while still keeping dues affordable.
First, there will be a special assessment of $200, which will be spread over four months – June, July, August and September. You will receive a separate bill each month for this assessment. The special assessment funds return about half of the cash we took out of reserves to pay for the Via Conejo repair.
Second, dues will increase by $14 per month beginning in October. The new $98 per month dues are still the lowest in the canyons. In comparison, CZ Master members pay $216 per month and the Estates pays close to $700 per month.
The special assessment and dues increase give us the ability to pay for all of the rain damage, cover our increased costs and end the year with healthier reserves.