Sedona AZ (April 4, 2016) – The following is a letter to the SedonaEye.com editor:
If there are special assessments for the golf course, the responsibility will fall to the HOMEOWNERS. We should all be very concerned and we should be involved in finding a solution.
There is always more than one solution.
Participation is key.
Annual meeting is April 16, 2016. Three of the present Board members are leaving. Please plan to attend. Please forward to VOCA neighbors.
Golf department update:
1. The annual report to members did not include the reserve study summary. See notes below and attached summaries.
2. The December 2015 financial summary showed the total operating expenses exceeded the budget by $109,141.
3. $30,000 borrowed from HOA in late 2015. Needed as a result of low operating cash. (November 2015 treasurer’s report)
4. Golf Member dues increased for 2016.
Reserve Study – OCC
“…Reserves have a poor financial status…”
“Reserves are severely underfunded and action must be taken…”
“… we recommend budgeting Reserve contributions of $28,000/month.”
“Unfortunately, regular Reserve contributions will not develop enough funding to cover the large short-term projects. In order to fund short-term projects, we recommend collecting multi-year special assessments of $400,000/year during 2016, 2017, & 2018.”
Please send concerns to:
Hoamco Community Manager
OCC Golf Director
The reserve studies are on the members only section of Voca Homeowners website at www.vocaonline.com.
Please get involved.
Strength in Community