NCCA
2020 BUDGET DETAILS
Assessments to increase to $33 per month in 2020.
The NCCA Board continually strives to keep assessments as low as possible, and assessments remained at $30 per month during 2015, 2016, 2017, 2018 and 2019. However, the Association has been continually faced with a number of major necessary repairs which require additional funding. Therefore, at the November Board meeting, the Board of Directors unanimously voted to raise assessments to $33 per month or $99 per quarter for the 2020 calendar year.
The monthly breakdown of assessments is comprised of:
- $22 for operating expenses
- $3 per month for repayment of the detention basin loan
- $8 per month to include expenses for Manor House repairs ($17,000 per year),
tree maintenance/removal ($24,000 per year), sidewalk repairs ($10,000 per year),
and starting to fund the basketball/tennis court repairs ($9,000).
Out of the yearly general operating expense amount, $78,200 is allocated for maintenance of the common grounds and $43,300 is used to maintain the pool. The detention basin project was mandated by Newtown Township and, due to the magnitude of the expenses involved, NCCA secured a ten-year loan in the amount of $150,000 to pay for this project. The special assessment of $3 per month goes toward the repayment of this loan.
The additional special assessment of $8 per month will fund the following:
- Harsh weather continues to result in extensive storm and tree damage and our reserve account for those expenses continually needs to be replenished. Older trees have also died or are deteriorating and need pruning or removal.
- Over the past several years, the Board has been replacing deteriorating sidewalks on common areas and will need to continue to do so throughout the community.
- The tennis courts and basketball courts are in dire need of repair. The Board of Directors has an obligation to maintain the assets of the community and has been investigating a number of options for repairing that area. We have obtained some preliminary costs to repair the courts completely, to repair one court, tear up all existing courts and grass over the area and a combination thereof. Regardless of whatever option we decide upon, any modifications to the area will cost in excess of $100,000. The $9,000 allocation next year will just be a start in funding this project.