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2020 New Assessment Fee Schedule
Vista Lakes Community Association (VLCA) - 2020 Budget Overview
New Assessment Fee Schedule
This notice is provided in an effort to help residents plan accordingly for the new 2020 VLCA Assessment rates. In the last 10 years, the U.S. experienced 19.7 % inflation. During that time, VLCA Assessments have not increased despite the continuous rising costs of goods and services. Instead, year-over-year, VLCA budget line items were consistently decreased, any operating surpluses were rarely used and projects/maintenance was deferred rather than increasing assessments to meet market conditions and VLCA’s growing annual operating requirements. In addition, the aging infrastructure of our community requires repair, renewal or upgrades to some of our major systems and amenities in order to keep Vista Lakes a great place to live.
The 2020 VLCA budget requires a total of $306,522 additional funding for 2020 compared to 2019. “One Time” item increases for 2020 account for $140,000 and recurring item increases account for $166,522 of the $306,522. 81.5% of the required 2020 budget increase is covered from within the current VLCA operating surplus, with no impact to monthly assessments and limited risk to VLCA. 18.5% of the 2020 additional budget requirements will come from increased VLCA Assessments for 2020, and other revenue or offsets. An estimated 7% increase in Assessments for 2020 is required and will generate $59,206 in increased income to support the VLCA 2020 budget.
Sample of New VLCA Benefits & Improvements Approved by the Board for 2020 and supported by the 7% assessment increase:
Effects of the 7% increase in Quarterly Assessments by Neighborhood.
NOTE: Line-items with specific benefit to Gated Communities have only been factored into & assessed to the Gated Community rates, not the Base assessment rates.
The new assessment rates apply starting January 2020. Please plan accordingly. Additional information will be sent out with the payment coupon books (for those who receive them) and in the January Newsletter. If you use online bill-pay services, please pay attention to the new assessment rates so that you pay the proper amount and avoid any potential late fees. Contact the VLCA staff if you have any questions regarding the new assessment rates for 2020 at email@example.com.