On November 14th, 2023, at 11 a.m., the Annual Budget Meeting for Coach Homes IV at River Strand will be held, additionally consideration of a Common Expense Assessment will be included on the agenda . The meeting will be held at the River Strand Clubhouse at 7155 Grand Estuary Trail, Bradenton, Florida.
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PROPOSED 2024 BUDGET
Enclosed for your information is a copy of the proposed 2024 Budget to be considered by the Board of Directors for ratification by the Board of Directors at the above noticed Annual Budget meeting.
During this meeting, the enclosed proposed 2024 Budget will be presented for consideration by the Board of Directors for ratification. The proposed budget recommends a higher quarterly maintenance fee of $1,460 per quarter per member for the coming year to account for significantly increased expenses for insurance and mandated reserves. The quarterly maintenance fee includes reserve funding utilizing the Cash Flow method (Pooling Reserves) of funding.
COMMON EXPENSE ASSESSMENT
As insurance for the Association’s property is due in November of each year in order to cover increased costs of insurance under budgeted in 2023, and to pay for the 2024 policies to limit interest to carry those expenses beyond the November 2023 due date a common expense assessment will be necessary. The common expense assessment is anticipated to be $1,200.00 per Unit Owner and discussed during the annual budget meeting.
