Annual Meeting Rescheduled
The annual meeting including election of officers was postponed from December 11th because not enough board members could attend to meet the quorum requirement. The meeting has been rescheduled to Monday, December 18, 2017 at 7:00pm at Panera Bread at the northwest corner of Big Beaver Rd and Rochester Rd.
The meeting agenda is available here. The proposed 2018 budget is available here.
Prior to 2017, RVHA spent each year about the same amount it collected from the 810 homeowners paying the annual assessment, which has been $26.00 since 2007. In 2017, RVHA retained an attorney to consult in matters relating to the development of the Raintree Village on the Park subdivision by Mondrian Properties, and spent nearly $5,000.00 for legal services. A similar expenditure is expected in 2018. RVHA will also consider additional expenses such as pond bank restoration (tens of thousands of dollars) and replacing one or more entrance signs (about $10,000.00 each).
In accordance with the Declaration of Covenants, Conditions and Restrictions, RVHA can increase the annual assessment by at most 5% per year ($1.30 on a $26.00 assessment) without a vote of the membership. To simplify bookkeeping the increase would be rounded down to $1.00. The proposed budget for 2018 includes an increase in the annual assessment from $26.00 to $27.00. This would increase income by $810.00 in 2018, less than is needed to preserve the current reserve funds. Discussion and a decision to increase the annual assessment is part of the agenda item for approving the 2018 budget.