Budget

Budget - The annual budget is developed based on the previous year experience, potential cost reductions and additional expenses anticipated for the coming year. The budget also includes contributions to the Reserve Fund. Review the 2008 budget. See chart for expense distribution.

Assessment Payments

Once the budget is determined, the annual assessment for each unit is calculated based on the formula outlined in the Master Deed.  The annual assessment is then broken into monthly payments which are due on the first of each month.  More information is contained in the Bylaws

Reserves

River Pines has 2 Reserve Funds. One is for unit painting and deck refinishing that is done each year. The second is for capital replacement of common elements throughout the site. We have utilized Reserve Advisors Inc. for the professional evaluations of our capital facilities. They have projected the facilities that will need replacement over the next 30 years, when the replacement will be required and the cost for such replacement with adjustments for inflation. Periodic updates of this study are done to insure validity of our plan.

These reserves provide the assurance the facility is maintained and kept up to date with the expectation of protecting the co-owners investment.