Budget Discussion at July 19th Meeting

Due to the high cost of snow removal this year as well as recent legal guidance surrounding the use of the limited assessment, the HOA is facing a significant budget deficit for the 2010 year. This budget shortfall will be an important item of discussion at July 19th board meeting. This discussion will encompass analysis of the current budget situation including accounting of year-to-date expenditures, implications surrounding the possible reallocation of the limited assessment, as well as strategies for mitigating this deficit including the possibility of additional cuts and/or special assessments.

As always, board meetings are held the third Monday of the every month at 7pm in the Westchester Community Center and are open to all HOA members.

(A full agenda for the July meeting will be forthcoming, but we wanted to give sufficient notice on this important topic)