You should be receiving statements for your annual assessments in the mail soon, if not already. As you will notice, the amount is $12.00 more than normal. DUES HAVE NOT BEEN INCREASED. The amount is greater because this invoice collects dues for 15 months, rather than the normal 12 months.
Our HOA fiscal year has changed to a calendar year (from January 1 until December 31). Our old fiscal year ran from October 1 until September 30. This change in the fiscal year will streamline accounting and allow us to file our income tax return in March of each year.
To change to a calendar year fiscal year, we need to collect dues from October 1, 2016 through December 31, 2017. The dues for a calendar year are $48.00 (12mo x $4/mo). Because our old fiscal year ran from October 1 through September 30, we must also collect dues for October, November and December 2016. These three months total $12.00 (3mo x $4/mo.). Total current billing is for $60 ($12 + $48).
You will not see another invoice until December 1, 2017 and that invoice will be for the calendar year 2018.
Thank you for your understanding.