Will There Be An Assessment Increase?

When you became a homeowner in Ventana Lakes Property Owners Association you invested in its amenities and property.  You elected seven homeowners to the Board of Directors to protect your investment through proper maintenance and management of your assessment funds.  In return, the Board hired a professional management company, HOAMCO, to aid them in establishing the necessary policies and procedures to be successful and manage the day-to-day details.   

Over the next several months the Association will be reviewing and establishing a budget for the year 2025. While the Finance Committee and Board members will be focused on what increases have been already identified and what items may be reduced in order to balance the budget, here is information that homeowners need to have in order to recognize the magnitude of what it takes to manage the Ventana Lakes community.

Assessments are currently at $315 a quarter, or $105/month per each of the 1,769 Lots.

Operational funds cover day-to-day expenses and the purchase of new amenities; currently funds cover:

  • 9 Lakes totaling 27 acres which involves water, fish, chemicals, equipment, monitoring and maintenance expenses.

  • 39 acres of common area requiring water, electrical and landscaping expenses.

  • 6 buildings requiring electrical, water and cleaning expenses. The 6 buildings are:

    • The CMO includes Office/Facility salaries/benefits, equipment, supplies, & technology services

    • Yacht Club/Entertainment system/Kitchen/Billiards room

    • Landings/Sauna/Steam Room/Library/Fitness Center

    • Lakeside facility

    • Edgewater facility

    • Maintenance Facility/In-door Racquetball Court

  • 4 Pools and Spas requiring electrical, water, chemicals and cleaning expenses.

  • 8 different types of Sports Courts requiring maintenance expenses.

  • 2 Maintenance vehicles and assorted maintenance equipment.

Reserve Funds cover the maintenance, repair and replacement of existing equipment and amenities. In accordance with CCR Article VII, Section N, the Assets Capitalization/Preservation (ACP) Fees shall be used only for “supplementing” reserves and funding community development and enhancements, developing new community facilities, and enhancing and expanding existing community facilities and programs. Currently, VLPOA Reserves are at $2.3m and are funded “solely” through ACP fees derived  from home sales.

With this in mind, homeowners need to be prepared for a possible assessment increase to address existing increased operational expenses, compliance with governing documents, and plans for future expenses which will improve Ventana Lakes.  Over the last couple of years our community has seen a decline in the timely and necessary maintenance of certain amenities.  These deficiencies were attributed to equipment parts and/or contractor delays or a lack of available funds. Pools/spas have been shut down frequently, HVAC units & lake pumps failed, as well as frequent repairs and staffing shortages to address facility and/or community activity needs. 

To have a better understanding of these expenses, you may want to attend the Finance Committee meetings and ask questions regarding budgeting practices and funding sources. Although you personally may not use all or even any of the amenities, you are responsible for providing funds for their upkeep. How do you see your community and what works and what does not?

Your HOAMS Club Officers

Finance Committee Meeting Dates

Tuesday’s at 1:00pm at the Lakeside facilities on 7/23, 8/20, 9/24, 10/22, 11/19 and 12/17.