Paseo Alert

Message from the Board of Directors



31 October 2017
2018 Budget-Fees to Go Down $300 Per Year

An updated and final 2018 draft budget proposal will be voted on by the Board at its next meeting on November 6th at 5:30 pm. A copy of the updated, proposed budget has been posted online to our website, mypaseo.life. The final draft budget reduces fees by $300 per year.

The 2018 budget captures many measures taken to reduce operational costs. This will allow KW and the Board to maintain as well as improve some amenities. Significant cash surpluses generated in 2017 will be used to offset 2018 budget expenses.

The final proposed budget shows a contribution to reserves, which will have the effect of funding prior year shortfalls as well as overfunding the 2018 reserve requirement. Additionally, the contingency expense has been increased primarily for the event that the Association needs to purchase a liquor license.

If passed as proposed the updated budget allows for;

  • Heaters for the Lagoon Pool for the cooler months
  • Additional money for more and better, quality entertainment
  • Needed upgrades to the pickleball, tennis, bocce and basketball areas
  • Major overhauls to Pool Equipment
  • Upgrades and replacement of needed gym equipment
  • Additional new furniture replacement
  • Complete overhaul of all security cameras & equipment
  • Funding marketing measures to attract prospective home buyers
  • The purchase of a liquor license if necessary

Additionally, we are still waiting on the State of Florida for an inspection and for issuance of a ?Paseo Beach Club? liquor license. Should the State not decide in the HOA?s favor, the 2018 budget can accommodate the purchase of a liquor license. The license would cost the Association somewhere in the neighborhood of $250,000.

Finally, Richard Deboest (Association Counsel) will attend our next meeting for the purpose of discussing the Associations? past and present legal fees along with other legal matters. Attorney Deboest will answer questions during the Q & A portion of the meeting. Also, the Board will discuss and vote on issues related to amending bylaws, electronic voting and the 2018 Master Association election.

Sincerely,
Board of Directors
Paseo Master Homeowners' Association