ANNUAL DUES INCREASE
PROPOSED ANNUAL DUES INCREASE (2019/2020 FISCAL YEAR)
At the Mar. 6 Board Meeting, the Board of Directors approved the motion to put forward a $150 increase for the October 2019 homeowner annual dues fee ($700 per year) to be voted on at the Annual Meeting on May 14, 2019. The final proposal is listed below, was mailed to all homeowners in April 2019 from CMI, and printed in the May Board newsletter. If this dues increases passes by a majority vote (two-thirds voting in favor) of attending homeowners and proxy ballots at the Annual Meeting, homeowner annual dues will be $700 per year starting October 2019.
For more information about the Annual Meeting: oakhillsoregon.com/annualmeeting.
For all financial records, statements, and budget documents: oakhillsoregon.com/financials.
For more information about the Annual Meeting: oakhillsoregon.com/annualmeeting.
For all financial records, statements, and budget documents: oakhillsoregon.com/financials.
ANNUAL HOMEOWNER DUES INCREASE PROPOSAL
From the Board of Directors
(mailed to all homeowners April 2019, printed in the May Board Newsletter)
Guided by values that promote a sense of community and preservation of property values, the goal of the Board is to make decisions that are consistent with high principles and in the best interests of the entire Oak Hills community.
The Oak Hills Board of Directors recommends that annual dues increase by $150 to a total of $700 per year, taking effect with the invoice mailed in October 2019, and due in December 2019.
Non-dues income from field, building, and RV lot rentals will be dedicated to three purposes:
1.Fund two savings accounts:the Operating Reserve account and the Replacement Reserve account.
2.Pay for the Fourth of July Celebration including the fireworks and all associated costs.
3.Offset the Pool Pass and Tennis Court access fees. The Board agrees that all homeowners have paid to build the facilities that are the capstone of our community.
For further information, please see documents posted at oakhillsoregon.com/financials, including the 2018-2019 budget and background materials for the dues proposal including recaps of the Homeowner Budget Review meetings (Jan. 8 and 15):
TO DOWNLOAD/PRINT THIS PROPOSAL DOCUMENT:
From the Board of Directors
(mailed to all homeowners April 2019, printed in the May Board Newsletter)
Guided by values that promote a sense of community and preservation of property values, the goal of the Board is to make decisions that are consistent with high principles and in the best interests of the entire Oak Hills community.
The Oak Hills Board of Directors recommends that annual dues increase by $150 to a total of $700 per year, taking effect with the invoice mailed in October 2019, and due in December 2019.
- The Board has the fiduciary duty to the membership to set the HOA fees at a level that is adequate to cover operating expenses and reserve transfers as recommended by the reserve study.
- Annual dues of $700 will fund the actual cost of operating OHHA. Operating expenses of $457,716 in the 2018-2019 fiscal year budget, divided by the 650 homeowner lots in Oak Hills, yields a cost per lot of $704 to operate OHHA.
- Former OHHA boards have kept homeowner dues artificially low by supplementing dues with non-dues income to support general operating expenses. The Board’s intent with this dues increase is move OHHA toward a more sustainable funding and budgeting practice by relying on homeowner dues to support operating expenses.
- Non-dues income sources like field, building, and RV lot rentals, pool passes, exercise tags, and miscellaneous income vary annually and are neither sustainable nor reliable to depend on for general operating expenses.
Non-dues income from field, building, and RV lot rentals will be dedicated to three purposes:
1.Fund two savings accounts:the Operating Reserve account and the Replacement Reserve account.
- The Operating Reserve is the account in which any funds greater than expenses are saved for use in future years or for unexpected expenses;
- The Replacement Reserve is the account in which funds are set aside for repair and replacement of equipment and facilities. Repaving greenbelt walkways, replacing the flag pole, rebuilding the iconic Oak Hills entry sign, maintaining the neighborhood trees, refurbishing the tennis courts, replacing non-working mailboxes as needed, and rebuilding the tractor are examples of expenses that could be charged to the Replacement Reserve account. The association funds the Replacement Reserve account annually.
2.Pay for the Fourth of July Celebration including the fireworks and all associated costs.
3.Offset the Pool Pass and Tennis Court access fees. The Board agrees that all homeowners have paid to build the facilities that are the capstone of our community.
- Tennis Court access will be free to homeowners who have registered.
- Pool Passes for homeowner use will be reduced. Guests fees will be charged for non-homeowners and for pool rentals and/or parties.
For further information, please see documents posted at oakhillsoregon.com/financials, including the 2018-2019 budget and background materials for the dues proposal including recaps of the Homeowner Budget Review meetings (Jan. 8 and 15):
- Both meetings: attendees mostly agreed that a dues increase was necessary
- Second meeting: attendees appreciated updated budget format clarifying expenses
- Second meeting: committee improved budget document based on from homeowner feedback
TO DOWNLOAD/PRINT THIS PROPOSAL DOCUMENT:
| Annual Dues Increase Information |
RESEARCH AND DOCUMENTS
The following are information, events, and the draft dues increase proposal shared with the Board that served as research for the final dues increase proposal that homeowners will vote upon at the Annual Meeting on May 14.
BUDGET REVIEW MEETINGS
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THANK YOU to all Oak Hills homeowners who attended the Budget Review Meetings on Jan. 8 and 15.
The 2018-2019 OHHA budget was reviewed in detail with OHHA Treasurer, Linda Marshall, and the Budget Review Committee (President Dan Badders, Secretary Lindsay Sandor, Director Martin Lehmann, and homeowner Jana Carlson). Attendees asked questions, and share ideas/concerns for how to best support long-term financial management and upkeep of our community. The Jan. 15th meeting was also broadcast on Facebook Live! Click HERE to watch the broadcast. If you haven't already, "Like" our community page (@OakHillsHOA) to stay in touch with community events and announcements. Questions? Contact Linda Marshall ([email protected]). |
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OHHA 2019/2020 BUDGET PROPOSAL:
INCREASE HOMEOWNER DUES
from the Budget and Dues Increase Committee:
LINDA MARSHALL (OHHA TREASURER)
DAN BADDERS (OHHA PRESIDENT)
LINDSAY SANDOR (OHHA SECRETARY)
MARTIN HEHMAN (OHHA DIRECTOR)
JANA CARLSON (HOMEOWNER)
The Budget/Dues Committee spent many hours reviewing current and past budgets, asking questions, comparing options, and sharing ideas. Their earnest dialogue led to a unanimous conclusion: prudent management requires OHHA operating expenses to be covered by homeowner dues.
In preparation for proposing a dues increase at the 2019 Annual Meeting, the Budget and Dues Increase Committee has put together the following information for the Board of Directors and homeowners. This draft serves as the reference for a dues increase to be considered by and voted upon by the Board of Directors. If approved, the Committee will move forward with communication plans to educate and inform homeowners in preparation for a community vote at the Annual Meeting on May 14, 2019.
CLICK ON THE LINK BELOW TO REVIEW THE DRAFT PROPOSAL SHARED WITH THE BOARD OF DIRECTORS.*
*Please note that this is the DRAFT Proposal. The final proposal, shared with homeowners to vote upon at the 2019 Annual Meeting, is posted above in the "Proposed Annual Dues Increase" section.
LINDA MARSHALL (OHHA TREASURER)
DAN BADDERS (OHHA PRESIDENT)
LINDSAY SANDOR (OHHA SECRETARY)
MARTIN HEHMAN (OHHA DIRECTOR)
JANA CARLSON (HOMEOWNER)
The Budget/Dues Committee spent many hours reviewing current and past budgets, asking questions, comparing options, and sharing ideas. Their earnest dialogue led to a unanimous conclusion: prudent management requires OHHA operating expenses to be covered by homeowner dues.
In preparation for proposing a dues increase at the 2019 Annual Meeting, the Budget and Dues Increase Committee has put together the following information for the Board of Directors and homeowners. This draft serves as the reference for a dues increase to be considered by and voted upon by the Board of Directors. If approved, the Committee will move forward with communication plans to educate and inform homeowners in preparation for a community vote at the Annual Meeting on May 14, 2019.
CLICK ON THE LINK BELOW TO REVIEW THE DRAFT PROPOSAL SHARED WITH THE BOARD OF DIRECTORS.*
*Please note that this is the DRAFT Proposal. The final proposal, shared with homeowners to vote upon at the 2019 Annual Meeting, is posted above in the "Proposed Annual Dues Increase" section.
Financial Statements
All statements and budgets are categorized by fiscal year, from October 1st through September 30th. Oak Hills Homeowner Association's financial statements reflect the time period through the end of the designated month. These documents are posted on the Financial Information page.
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