Frequently Asked Questions
Dues
When are the dues due?
Jan 31
When are dues considered late?
Feb. 1
Where do the payments need to be mailed?
Association Management Agent Karrie Ezell 558 Castle Pines Parkway #409
Castle Rock, CO 80108
When are past due accounts referred to an attorney for collection?
April 1
ARC -Architectural Review
Why do I have to get approval to work on my property?
What do I have to get approved from ARC?
Why do I have to get same paint color approved?
Assets
What are our assets, their value and condition?
We have 11.25 acres of greenbelt. The sprinkler system involves 11 controllers, 64 water valves and zones and 464 nozzles and heads. All surface and water valves and heads/nozzles have been or are being replaced, rebuilt or adjusted per a November free Denver 2 day Audit done on our property. Accounting has been changed to monitor if any underground pipe problem exists but it is not expected. Our sprinkler system should be modernized during 2010 and, if maintained properly each year, last much longer than 10 years. The Caley fence had $95 spent on it during 2008 and 2009. We plan to rebuild the east half in 2010 and the west half in 2011. The Arapahoe Fence will be rebuilt in 2010. The Quebec fence will be repaired, caulked, and sealed in 2010 and painted in 2011. All fence lines are having 2’ wide by 8’ high corridors cut along each side of all fences per covenants to provide access to HP fences and to prevent further damage from trees/bushes and poor landscaping. Our sidewalks have normal wear but should last many years. Any perceived drainage problems are being readily rectified as discovered. Two such areas have been uncovered, filled and tamped with soil/rock and sealed with grass sod on the surface. The cause of such problems, usually poor placement of rip rap rock, poor soil embankments, or concrete are being re-contoured to prevent further erosion. However, we are a planned surface water flooding community and we must maintain such erosion problems each and every year. We have 65 lamps that need grinding/painting and some minor bulb standardization. We have 3 signs with 2 in good condition and 1 being repaired in 2010. We have 179 interior greenbelt trees that are in good condition and being attended to as needed. Insurance appraisal of our assets is around $250,000. Past reserve reports have had widely varying values that are not being relied upon. The new approach to maintenance and partial asset replacement intends to extend asset life indefinitely with appropriate improvements. The latter approach means we need not have the value of the assets in the bank but the needed insurance coverage for catastrophes and the needed funds to do both regular annual maintenance not always done in the past AND regular annual improvements to extend asset life.
Why is our green belt a major "flood plain" and why do I care?
How do we take care of assets?
We take care of CATASTROPHE’s by buying insurance with a $1,000 deductible. Next we evaluated the last 3 Reserve reports for HP and evaluated them. Due to their consistent inconsistencies in asset description and 3rd party expectations, they were evaluated in a written Treasurer’s report December 2009 which has been on the web site. We’ve adopted PARPM which stands for Partial Asset Replacement Preventative Maintenance. This means we are now in a 1-3 year program to bring our assets back to good looking and functional status. In the process and every year thereafter, our repairs will be mandatory repairs and mandatory partial asset replacement. This means that we will have a 10 year life on all assets for many more than 10 years. Need more explanation? Call me or read my report on the web site.
Finance
What are our dues $/yr and planned increases?
Our annual dues are $316.41 with planned increases of 3% every year. Both a 12 month current budget year and 5 year forecast have been completed synchronized with the above maintenance and asset improvement (PARPM) program. As such and with the current assets, no assessment or other dues increase are currently justified.
How much do we spend a year and on what?
HP revenues are about $140,000/yr. All of the funds are planned to be spent on operating expenses and asset improvements for the next 3 years. The current HOA board has found a few tens of thousands of dollars of savings in both the operating budget and asset replacement costs. As a result we expect more asset improvements and then savings to increase after year 3 to nearly $200,000 in year 5. Our major expenses (now categorized appropriately with a new Chart of Account to match contracts and actual spending) include: 1) lawn care (mowing, trimming, aeration, weed control), 2) tree cutting/pruning in both green belts and fence perimeter, 3) greenbelt infiltration mound construction-removal of rock-contouring surface-addressing any erosion by filling such holes without major sidewalk replacement, 4) utilities (electricity, water, SEMSWA-flood control), 5) consultants (management, auditors, taxes), 6) lamp post and general maintenance, 7) sprinkler above and below ground repairs, 8) newsletter and web site 9) board copying, mailings, 10) Events like Easter egg hunt, 4th July parade, etc.