How large is our annual budget and how is it paid?
Our annual budget for 2007 will approach $2.1 million. The bulk of our budget is supported by our monthly maintenance fees from our members

What constitutes the largest expense items in our annual budget?
The largest items are the water and sewer bills; the amount paid out for renovation or replacement of common property-or-deposits to the capital reserve fund-or-payment of the capital improvement loan; employee payroll; insurance costs; grounds and lawn care, snow removal, sewer flushing and pest control contracts and delinquent fee collection costs. These costs account for over 70% of our total budget.

Is there anything I can do to hold the line on costs?
Many of our costs are out of our control. The Board constantly seeks bids & quotes to ensure we have the best prices. However, there are some repeated costs that are a direct result of residents actions : 

a. Protect our sewers! We spend a fortune flushing the sewers to prevent backups and most of what we flush out is fat that was poured down drains. If everyone poured that grease into cans and disposed of them in the trash, we would save tens of thousands of dollars each year.

b. Don't Waste Water! The water bill ($325,000+/-) pays for lots of wasted water. Save our money by fixing leaking toilets and dripping faucets. Those drips add up to tens of thousands of gallons  (& many dollars) wasted every year. 

It will also help if you limit your car washing to once a week and do not invite, or allow, your guests to use our water to wash their vehicles.

c. Police your own garbage & don't litter! We pay for many man-hours of labor for our ground-keepers to pick up trash and we have to pay for exterminators to eradicate vermin that are attracted as a result of owners not using covered garbage cans.  ALWAYS USE A COVERED CAN!!!

d. Control your children! We suffer because some owners do not control their children. These kids break thru fences to make shortcuts and vandalize YOUR property and ours. We are not responsible for our community's children, but we all pay for the "bad" ones. So, control your children...know where they are at all times and report those individuals that are "out of control" or the parents or guardians that are responsible for them.

e. Pay your fees! It is estimated that the overdue fees and penalties that we are now trying to collect! could re-side over 75 units in our community. The legal costs from the professionals that pursue delinquent fees have amounted to several hundred thousand dollars over the past 5 years or so. A portion is recovered with the collect fees and penalties we recover. But it is likely that more than $100,000 in legal fees will never be recovered...enough to side another 50 units!

f. Prevent Fires! A number of fires in the last year or so have resulted in over one-half million dollars in claims and have raised our insurance rates. These fire were, or are believed to have been, all the result of carelessness.  Once insurance costs rise, they will not drop for 3 years in most cases.  Our increase this year, paid for 3 years, is enough to side another 25 units.

Can I see the budget and our financial paperwork? Can I have copies?
Any association member is entitled to examine the budget upon request, at the clubhouse during normal business hours.  You may not copy or remove the financial documents and we do ask that you limit your examination to a reasonable length of time. Any association member is, however,  welcome to have a copy of the association's annual audit.

How is the budget produced and how often?
The Board of Directors produces a budget on an annual basis. with discussions beginning in October. Every item on the budget is discussed and money allocated for them (including an allocation for the capital reserves fund) based on previous years costs, etc. It is always a struggle to cover our costs but the task is taken seriously. 

Can association members comment on the budget discussion?
The budget is discussed in open sessions of board meetings and the input of the association membership is welcome and encouraged at some point during each discussion session.  However, time constraints do not permit the public to make comments on each budget item as it is discussed. 

Who monitors the Board's budget activities? Is there any sort of certified  audit? Can I see it?
Ultimately, the association as a whole is responsible for the allocation of our own fees. Association members are welcome to attend monthly meetings and budget meetings. An outside accountant performs a limited monthly oversight of account entries, and an outside auditor & CPA performs a full audit of our finances every year after "tax season" ends. As mentioned above, association members are welcome to examine the audit at the Association office and may have a copy. 

What fees does a buyer pay to purchase a Woodlands Condominium? 
Aside from the purchase price and normal costs involved in purchasing any real estate, a buyer at The Woodlands is required to pay certain up-front fees to the association at settlement:  

1. A $300 one-time up-front contribution to the capital reserve fund, which helps to pay for future repairs/maintenance.

2. A $350 fee that includes the one-time fee for membership in the condominium association; and a copy of the Association Master Deed/By-Laws/ Rules & Regulations.

3. The first full month's maintenance fee, which presently ranges from just under $200 to just under $250..

Why was the up-front purchase fee schedule modified in 2005? What was changed?
As a way of increasing capital contributions, while only marginally (up or down) affecting what a buyer paid up front over the previous schedule, the board treasurer suggested collecting $300 and 1 month's advance maintenance fee, vs. $100 capital contribution and 2 month's maintenance fee, from each buyer.  The Board agreed and the change (effective June 1, 2005) is bringing in about $30,000 per year (based a 150 sale annual rate at The Woodlands). The $350 association & documents fee remains, unchanged. This change makes our book-keeping easier and the buyer simply starts paying the maintenance fee when they start paying their mortgage.