Financial Notice

Dues Changes

In October of 2024,  the Association Board voted to raise monthly dues to $330 per month, effective November 1, 2024, and thereafter.

One-Time Assessment

October 8, 2024, the Association membership voted to charge a nonrecurring assessment of $875 on each of its 18 homes.  This fee will be payable on January 1, 2025, by the homeowner(s) as of that date.

The purpose of this assessment is to restore working cash reserves, going into the winter months of 2024-2025.  The need for reserves early in the fiscal year is paced by unpredictable snow-removal demands.  Cash reserves were reduced in the summer of 2024 by the final payment of expenses for replacing the north fence along Glass Road.

Financial Conditions

The annual meeting of the Association occurs after the end of each fiscal year (September 30).  Minutes of this meeting for 2024 are available.  Related financial documents are the following:

• FY24 BCOA Financial Report
• FY25 BCOA Approved Budget

In FY 2024, the Association spent $88,000, which included $26,475 for replacing the north fence  The Association ended the year with cash reserves of $8,999.

For 2025, the Association has approved a budget of $72,094, approximately matching the aggregate member dues.   The bulk of the budget is allocated to lawn care and snow removal.  After the budget is met, cash reserves by the end of FY 2025 are expected to be about $23,000.