Why have the exercise classes/pool hours changed?
It is unfortunate that the HOA is having to make budget cuts, including no longer funding the exercise classes; however, due to the decrease in income brought about by the sharp rise in assessment fees which are not being paid, the Board has no choice but to curb spending where it can. The amount of “uncollectables” has risen from an average of about $50,000 to around $150,000 (or 15% of the HOA budget); money which has been allocated in the approved budget, but also revenue which the HOA is unlikely to be able to collect, or therefore spend. This shortfall currently shows no sign of decreasing, or even flattening off, and so further budget cuts may need to be taken in the future to avoid running out of money before year-end. The published budget cannot actually be amended, as it was previously approved by the residents and adopted by the Board; however, expenditure guidelines have now been adopted with regard to line items where savings can be achieved. I believe that a handout is bei
