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Mr.
Dwight Clark
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Dear Fellow Lauren Owners:
Enclosed is a copy of the 2016 budget. Also enclosed is a table showing the 2016 fees for units listed by tier and for parking spaces, along with fees from the previous four years. The condominium fees for the coming year by will increase by 1.5%.
Our fees cover operating and capital expenses incurred throughout the year. The fees include essential utilities, such as electricity (which includes AC), water/sewer, and gas (stoves, hot water and heating), and invaluable services, such as front desk coverage, pest extermination, and trash and recycling removal. Fees also cover the cost of routine maintenance of common areas, such as repainting, cleaning, and pool upkeep, and capital improvements to the property, such as the future proposed HVAC replacement and elevator modernization.
Portions of the budget that contributed significantly to the overall increase in the budget:
1. Utilities (specifically electricity)
2. Scheduled increases to Capital Reserves
3. Cost of living increase of 1% for staff (following Federal Government increases).
Employee health insurance and Association property insurance are expected to have no significant change for the coming budget year, an unusual occurrence.
Although energy prices have in some cases fallen over the last couple of years, our overall expenditures have continued to increase mainly due to greater usage. A reminder to all residents to please be mindful of utility usage to avoid wasting energy and money. A mere 10% reduction in utility usage would save the Association approximately $30,000 per year.
Soon you will receive new payment coupons in the mail from Simmons Management Group. You may pay your fees by check and coupon, by billpayer service (please be sure to have your paying authority include the account number as written on your coupons), by direct debit or you may pay online through the Simmons Management /group, Inc. website (www.simmonsmgmtgrp.com). Online payments can be made by e-check, or a one-time credit/debit payment.
On behalf of fellow board members, Roger Hirschland, Elizabeth VanderPutten, John Filice, and Aaron Tax, I would like to thank you for the opportunity to serve in this capacity. We welcome your attendance at the monthly board meetings and your suggestions and comments for ways to make the Lauren an even better place to live.
Sincerely,
Dwight Clark
President, Board of Directors
| Sincerely, |
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| Dwight Clark |
| President, Board of Directors |
