The following letter regarding the 2008 operating budget and annual disclosures recently was mailed to homeowners.
PLEASANTON HILLS HOMEOWNER ASSOCIATION
c/o Association Management Company, LLC
555 Peters Avenue, Suite 110, P0 Box 508 Pleasanton, California 94566 | TO: | Pleasanton Hills Homeowners | | FROM: | Board of Directors | | DATE: | December 1, 2007 | | RE: | 2008 Pro Forma Operating Budget & Annual Disclosures |
Pursuant to California Civil Code Section 1365(c), enclosed is a summary of the pro forma operating budget adopted by your Board of Directors for the 2008 fiscal year. Based upon the enclosed budget, there will be no scheduled increase. Your dues for 2008 will be $600.00 per year. Please note that pursuant to California Civil Code Section 1365(c), a full copy of pro forma operating budget for Pleasanton Hills is available at the offices of Association Management Company, LLC at 555 Peters Avenue, Suite 110, Pleasanton, California 94566. Copies of the full pro forma operating budget are available to any owner upon request and will be provided in compliance with Civil Code Section 1365(c). California law also requires that the Association provide each homeowner with a copy of the delinquent assessment policy annually. This document is enclosed as well. The Board of Directors strictly enforces the enclosed policy for the collection of delinquent assessments. It is crucial that the Association receive timely assessment payments so there is adequate cash flow for operating expenses. Also enclosed is a summary of California Civil Code Sec 1369.520 relating to enforcement of governing documents through alternative dispute resolution. Per California Civil Code, the additional disclosures are also included: 1) 1365(a)(3): The Board does not anticipate that any additional special assessments will be required during 2006 to repair, replace or restore any major component or to provide adequate reserves. 2) 1363.05(d): Minutes of any Board of Directors meeting are available to any homeowner upon request 30 days after said meeting, once said minutes have been approved by the Board of Directors. All current financial records for the Association are kept at the Association Management Company offices. Please review the enclosed material and keep it with your important documents. In the event you sell your home, you will be asked to provide this information to prospective buyers. |
