Sandy Pines staff has continued to work hard leading into the off-season to tie up loose ends, finalize the year-end financial reports for the Board and independent review, in addition to completing delayed capital projects budgeted for this current fiscal year. We will be sharing the final financial updates of our year-end close within the next couple Footprint issues.
Annual Capital & Capital Reserve Fund Assessments
Multiple questions have arisen regarding dues and the difference between the Annual Capital Assessment of $200 and the Capital Reserve Fund Assessment of $200.
• The Annual Capital Assessment is a permanent assessment of $200 for the smaller and regular capital needs and repairs or replacement of infrastructure assets within the park.
• At the annual election held August 19, 2017, the membership approved a ten year annual Capital Reserve Fund assessment; which shall be dedicated to more significant capital expenditures, as listed and reviewed annually, on the 10 year Capital budget estimate, beginning in fiscal year 2017/18 and ending 2026/27. The Additional Reserve Fund was proposed after a thorough review and assessment of the parks needs and replacement of assets that reached its useful life or were deemed no longer safe by an outside engineer’s infrastructure review. It was at this time, the park determined the existing Annual Capital Assessment would not be able to support the needs the park was facing. The intent of the Reserve Fund is to build the funds to address the park’s larger needs as noted: specifically the replacement of the
Adult Rec Center, repaving of roads, upkeep on roof repairs, structural repairs to the Lakeside Pavilion, along with any other emergent needs of the park, etc. The 10-year budget is a forecast of the park’s capital needs at a certain point in time. This foresight may change over time with other demands and unexpected needs. However, changes, year-by-year, to the 10- year plan will not go without board approval each year, through the annual operational and capital budget review process with the Board of Directors. The intent of the Capital Reserve is to provide necessary and safe infrastructure to protect and provide a safe and fun environment for our members, guests, and staff to create a lifetime of memories; and fulfilling our mission statement.
• The 2017 ballot consisted of two separate proposals: one for the Annual Capital Reserve Assessment and one for the Assessment for an Indoor Pool. The Annual Capital Reserve Assessment passed and is going into its 4th year out of 10 and the Ballot for the Indoor Pool did not pass. Administration is still working on opportunities for an additional pool and has recently developed a pool committee to determine the needs and wants within the park to take the next steps in making plans for funding.
Payment Plan For your reference and information, below is the payment plan schedule if you have elected to make monthly installments to pay for you Annual Dues and
Assessments. Your monthly payment this year is $327.88, and is payable on the 25th of each month, from October 2020 thru March 2021. This payment plan is allowed for dues and assessments only. To stay current within the payment plan, your balance owed at the end of each month for 2020-2021 must equal the following on each date listed below:
• October 25, 2020 $1,591.64
• November 25, 2020 $1,282.72
• December 25, 2020 $969.16
• January 25, 2021 $650.90
• February 25, 2021 $327.87
• March 25, 2021 $0 – All dues and assessments paid
All other member fees and charges billed to your account (outside of the annual dues and assessments) are due by the 25th of the subsequent month after being billed. You must add all other charges for services, electric, state unit tax, etc. to the monthly installment amount to stay within the balance plan displayed above.
Payments can be made online through our website, by mail, within the Admin office drop box, at the Administration office (during regular business hours) or at the Public Safety office. Please note a 3% convenience fee is charged for credit card payments made online or over the phone. If at any time through the off-season you have any
questions, please do not hesitate to call, or message us. Thank you all for being a part of the Sandy Pines Community!