Report from Rosanne Kumins
At this time, we have seen only two months of spending in the operating budget of the current fiscal year, and we are on target with the budget. Thus, I am hopeful that our expenditures during the next 10 months will be in line with our full-year budget.
One of the larger annual expenditures in the operating budget is for earthquake insurance. Some good news this year is that this premium did not increase. However, on the opposite side of the ledger, we are hearing some public discussion about a sharp rise in the cost of water and other utilities, all of which may impact our budget, but it is too early to make any predictions.
Canyon South 1 HOA also has a budget for long term asset replacements called the reserve fund. Dollars are set aside each month for items such as asphalt, stucco, painting, pools and equipment, roof repair, and other related infrastructure items. Each month $7,624 or approximately 27% of your monthly homeowner maintenance fees are contributed to this reserve. The concept behind this reserve fund, is to make possible major improvements without special assessments. This year for example, the east pool and spa were completely resurfaced. Each year the Board of Directors conducts a review, with the assistance of a reserve specialist, to determine the adequacy of the fund. A summary of the study is then included with the annual packet of HOA materials distributed to homeowners every June.
Beginning in October the Center Pool was heated for the first two months. December and January will see the East and West pool heated, then back to the Center pool for February and March, finishing with the East and West pool for April and May if needed.
Landscape staff is busy planting geraniums and lobelia in the beds near our pools and in one or two other areas. Our valuable Bougainvillea shrubs blend with and form a backdrop for the annuals. We have not “poodled” our Olive trees for two seasons so they could sprout some trunk-shading branches that will help prevent sunburn of the bark in the future. This photo illustrates the kind of pruning that we will do with our Olive trees. The citrus trees will be pruned in November and a contractor will prune the large pine trees and other trees that must be professionally climbed for that purpose.
