|Phase I||Phase II||Phase III||Phase IV|
|Jim Koppleman: President||Audrey Fuentes: President||Ruth Krisman: President||Paul Cohen: President|
|Alan MIntz||Pearl Lourie||Sharon Cadoff||Morty Millstein|
|Robert Tishkevich||Sue Loeser||Shirley Kafka||Mickey Novak|
|Eric Drucker||Jim Yarmus||Elayne Flechner||Lenny Kaplan|
|Marvin Radisch||Jay Sussman||Mary Rudnick|
Condo Association Fees by Phase – Here’s a table with the Monthly/Quarterly Amounts due for each of the four phases effective January 01, 2018. Please note, there are two different amounts with Phases II and IV. This slight difference within the phase is determined by the resident’s parking arrangement. Units with covered parking pay $30 more per quarter than those without that amenity.
Campbell offers four options for paying the quarterly Condo Association Dues
1. Pay the old fashioned way by mailing a paper check with a coupon.
2. ACH – The quarterly amount due will automatically be deducted from your checking account. There is no monthly ACH option, you can only pay the entire amount due every three months.
3. Pay online via your bank. With this option, you can pay monthly or the total amount due.
4. Pay by Credit Card, but there’s a hefty 2.7 per cent fee on the total amount due.
Budget and HP Financial Responsibilities
- Operating Expenses – a broad range of routine maintenance costs to maintain the safety of the community, to prevent deterioration and to repair and replace on an ongoing basis. Most of our budgets consist of a listing of operating expenses.
- Reserve Expenses – major non-routine repair/replacement projects for which money is put aside each year so that the funds are available when they are needed.
- Reserve Study – the art and science of anticipating and preparing for an association’s major repair and replacement expenses. At HP we hire a state certified Reserve Specialist to predict the lifespan of each phase and master asset, project how much money will be needed to replace the asset, and determine how much money we need to put into our reserve accounts each year to be able to pay for the replacements when their useful life is over.
- Fully Funded Reserves – the Florida Condominium Act is very clear: every association must fully fund reserves unless a vote to waive reserves is obtained. Fully funded reserves means that the association elects to follow the Reserve Study and put away the exact amount of money that the Reserve Specialist recommended for that year. The Florida Condominium Act requires the Board to mail out the budget showing reserves as fully funded.
- Partially Funded Reserves – partially funded reserves means that the association agrees to only put in a portion of the recommended Reserve contribution for that year. It also means that there is a greater likelihood of an assessment to make up for the non-saved reserve funds, should the need arise. In short, the default is a budget with fully funded reserves, but the Florida Condominium Act goes on to say that the unit owners can vote in favor of partially funded reserves if the board gives them that option.
- Master Responsibilities – the HPA master association’s budget has to cover all the expenses for common grounds. This includes the clubhouse, pools, tennis courts and other sports offerings, landscaping, insurance, security guards, etc.
- Phase Responsibilities – the phases’ budgets have to cover all the expenses for the residences. In the villas the roofs are a major expense; in the apartments the elevators are a major expense. All the phases have painting expenses. The apartments also pay extra for the big garbage bins in each building. Each phase has its own reserve study, its own budget and its own maintenance amount.
Budgets at HP – There are actually five (5) budgets here at HP. The master association has a budget and each phase has its own budget. Each year the master association’s budget determines how much money each unit has to contribute so that there are enough funds in the master Operating and Reserve accounts. In 2018 that amount is $775/quarter/unit or $3,397,600 per year. This represents an increase of $70/quarter/unit over 2017; each unit will pay $280 more per year just for the master association. The master does not collect money from residents; that is left to the phases to collect. Each phase also has a budget. Each year each phase determines how much money each unit has to contribute so that there are enough funds in the phase Operating and Reserve accounts. That $-amount when added to the master association’s required maintenance fee determines the maintenance dollars that each phase must collect from each unit. Each phase has a different maintenance fee because each phase has different operating and reserve needs so the total maintenance per unit varies by phase.