Saturday, December 14, 2013

Insurance Update / 2014 Budget

The Board approved the 2014 budget in accordance with the bylaws of the Association.  We will be scheduling an owners' meeting in January at which time it can be rejected if more than half the owners choose to do so.

Since the dues are being reduced to $225, that amount will go into effect January 1 pending the meeting.  If the owners happen to reject the new budget, the old budget (at $260 per month) will stay in effect until an approved budget is not rejected by the owners.

Coupon books will be mailed to owners prior to January 1.  If you want to sign up for automatic debit, the form is on the website or you can download it at this link:

www.cchoapros.com/hea/hea_documents/hea_ach_authorization.pdf

American Family has canceled the master insurance policy effective at the end of December, and the new budget does not include master insurance (the Board has determined that the HOA will not provide insurance on individual houses in 2014).  As we reported earlier, each owner needs to obtain his/her own policy for coverage of each building and contents.

Along those lines, because the roofs are relatively new, some insurance companies may offer significant discounts.  We are gathering the warranty and construction information to provide you in obtaining your insurance.  If your insurance agent or company asks for specific information about the houses or previous coverage please contact us at the phone number or email on the website and we will do our best to find the information for you.

The budget will be mailed out as soon as we determine the meeting date.  You may review it online at the link below.

www.cchoapros.com/hea/hea_documents/hea_financials/hea_2014_budget_final.pdf

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