As was discussed at the annual meeting, the capital reserve portion of the dues has been broken out separately so that owners can see how much is being set aside for capital improvements. This has always been a part of the HOA dues, but just not previously broken out by line item.
The previous special assessment to pay for deck improvements was a 4-quarter assessment and is no longer being charged. Dues in your current statement were unanimously approved by the owners at the annual meeting.
The small amount of capital reserve saving underscores the financial challenges the HOA faces for future capital costs and is the reason we will be scheduling another homeowner’s meeting to discuss methods for increasing our reserves to pay for future big ticket items (roofs, parking lots, etc.) that will require major maintenance and/or replacement in the near future.
Kicking Horse Lodges 