BOD Upate Regrading the budget and Centurylink

There seems to be some confusion about the budget for next year. For those of you that have  read our emails, you will know that the Board approved and contracted with CenturyLink to bring state of the art fiber-optic cable to all the villas here. The cost of this is $87 per month, $261 per quarter, which is the “pass-thru” money to CenturyLink that will be paid by the Association--not individual homeowners. You will not receive a bill from CenturyLink for this service. This is a 10-year contract. The only bill a villa owner should receive from CenturyLink is if you purchase any upgrades from CenturyLink such as Premium Programing, or STARZ or the like. As a reminder, everyone in the community will be getting 100 Mbps internet, Prism Complete programing, DVR service, and HBO which will be billed through our Quarterly Assessment. We will be collecting the first payment in the bext assessment and those funds will be held until all villas are live. The construction of this project should begin soon with a “turn on” date of mid-February to the 1st of March. Once completed we will pay Centurylink.  The actual increase in our quarterly reserve budget is $120. Almost all of this increase was due to the restructuring of our reserve accounts to better reflect replacement age for big ticket items—like new roofs and painting. We do not want to have future Boards have to make the difficult and divisive decisions to require a special assessment to be able to fund these types of projects as we had to do this year. We would like the money to be there, and those boards will simply go ahead and get the projects completed because this board has done it due diligence and corrected problems that should have been corrected years ago in how we fund our reserves. Here’s how it breaks down: Quarterly Assessment-$939 (Last Year-$819) Quarterly CenturyLink Service-$261 Total Quarterly Billing-$1200 The Board is also pleased to announce that we have taken care of the Irma damage in this year’s budget. Therefore, there will be no need for a special assessment to cover that expense. BOD SMMHOA 

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