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February 2010 News

  • DIY Green Projects. When the holidays are over, reuse or recycle what's left. Save bows, containers, packing peanuts, and wrapping paper for reuse next year. Make this year's holiday cards into gift tags for next year. Recycle paper, boxes, cards, and peanuts that you can't reuse, as well as holiday catalogs and magazines. The Metro Recycling website has an indispensable guide on to help you find where and how to recycle these items.

    Check out our Sustainability page for more tips on how easy it is being green!

  • Budgets & Reserves. January 1st began a new fiscal year for many associations, which meant sending out their 2010 approved budgets and thus, new assessments. Homeowners often have many questions about the budget but the item on a budget that often causes the most confusion is the Reserve Allocation. Just what is the Reserve Allocation and why is it important?

    Reserves are a way of saving for the future repair or replacement of community assets such as fences, landscaping, pools, roofing, and paving -- items that have a long useful life (between 3 and 30 years). When the costs of repair/replacement for these assets are added up, it can add up to a significant amount of money and it takes careful planning to ensure enough money is set aside to pay for these costs when the time comes.

    To assist your Board with creating a sound reserve plan, they will commission a Reserve Study, which will catalog the community's assets and predict the cost and timing of future repairs and replacements. The Study is then used to create your community's reserve plan to determine how best to set aside the savings by determining how much each homeowner needs to contribute as part of their regular assessment. Thus, the Reserve Allocation portion of your community's budget.

    Northwest Community Management assists your board during the budgeting process, including the reserve study and planning portion to make sure those long-term costs are anticipated.

   
             
       

 

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