Budget Ratification

On 03-25-2015 at 6:30PM there will be a meeting held at the Twin Lakes Golf & Country Club, 3583 Southwest 320th Street, Federal Way, WA. Purpose of this meeting to conduct budget ratification for fiscal year 2015 – 2016.

All homeowners were provided all information needed to conduct this meeting via postal mail.

Budgeting is a critical function of every homeowners association. The HOA Act (http://apps.leg.wa.gov/rcw/default.aspx?cite=64.38) authorize the association to “adopt and amend budgets for revenues, expenditures, and reserves, and impose and collect assessments for common expenses.” RCW 64. 34.304(1)(b); RCW 64.38.020(2). Budget adoption is therefore the predicate for imposing and collecting assessments to fund common expenses.

The Board of Directors are working hard to develop a budget that addresses all of the needs of the membership. The Directors are making sure they understand all line items; we will not just “rubber stamp” the work of others.

Responding to Homeowners that state they do not attend annual meetings due to lack of control, the length of the meeting and the fact that only naysayers attend, this meeting we attempt to rectify those issues. We have a new protocol established that attempts to maintain control. This placard will be visible during the meeting and will be part of the handout provided.  Protocol