The timing and intensity of the recent winter storms has brought historic snow accumulations to Incline Pines– and the cost of managing it has been staggering.
HOA Board treasurer Renee Meldrum presented a report at Thursday’s regularly-scheduled Board meeting showing actual and projected snow removal totals just for February and March exceed $80,000. That follows January’s snow removal expenses of $36,000. Obviously there was no way to budget for this last summer.
Additionally, if the heavy winter of 2016-2017 is any indication of what we might expect this spring HOA Board president Heidi Burton is advising owners to prepare for potential flooding from the snowmelt.
Renee explained the HOA has recently diverted the portion of monthly dues earmarked for the reserve fund to help pay the bills, but presented this document showing why the community will require a $5,000 special assessment per unit to cover the extraordinary expenses and repay our reserve fund before the end of the fiscal year in June.
Incline Property Management will formally notify owners of the special assessment, payable on May 1.
Reserve study
The HOA has just received the long-delayed 2022/2023 reserve study that it commissioned last year and the findings are not encouraging. The study has determined our reserves are not adequately funded and at the current rate will not cover anticipated capital expenses in the coming years.
The final report recommends the monthly portion of dues earmarked for the reserve fund be increased next year from the current $134 per unit. The dramatic rise in the HOA’s regular operating expenses will require an additional contribution. The HOA’s insurance policy alone doubled in cost this year to $50,000 because of the threat of wildfires.
The dues increase will be a separate discussion in the coming months as the Board prepares the 2023-2024 budget.
Snow removal for individual owners
A number of owners in recent weeks have asked if the HOA would clear snow from their roofs. According to our CC&Rs, this is not an HOA responsibility. Based on expert evaluations, the Board did agree to pay for the removal of snow from the metal roofs of two units that threatened traffic on our private drive and covered a fire hydrant.
The Board has authorized individual owners who wish to have snow cleared from their roofs (including the flat portions) to hire licensed and insured contractors to do the work. This can be arranged through Janet Krautstrunk at Incline Property Management, who will pay the contractors and bill the charges back to the individual owners as authorized by the CC&Rs.
Emergency calls to Incline Property Management
Incline Pines is back on the list of communities managed by Incline Property Management that can call IPM after hours and on weekends in emergency situations. Please be aware that emergency callouts are not inexpensive and except in extraordinary cases will be billed back to the owner.
The Board welcomes comments and other feedback on this post. Our next regular meeting will be held via Zoom on April 27 at 5 pm.