2019 Budget & Assessments

Sep 25, 2018

At its October 4, 2018 meeting, the South Riding Proprietary Board of Directors, based on the recommendation of the Budget & Finance Committee, adopted the 2019 Operating Budget and Schedule of Assessments that will hold your assessment rates at current levels. 

Assessment Summary
January 1 – December 31, 2019
Approved October 4, 2018

   
Detached Homes   $78.35       
(Common Expense $37.46, Recreation Expense $16.24 & Detached Home $26.04)* 

Detached Homes w/ Common Drive $94.50        
(Common Expense $37.46, Recreation Expense $16.24 & Detached Home $26.04 Common Drive $15.30)*

Townhomes    $88.05       
(Common Expense $37.46, Recreation Expense $16.24 & Townhouse $35.15)* 

* Assessment fees will be subsidized by prior year surplus.

Lakeside Condominium Units  $53.70**       
Amberlea Condominium Units $68.65* *      
Town Center Condominiums Units $68.65* *      
**This amount represents the amount paid to SRP. Please contact your management company for your monthly assessments.   

The column above entitled “Monthly Assessments to be Collected” are the amounts set by the Board of Directors that the Owners will pay in 2019, and which are necessary to meet the expenses of the annual budget.  The governing documents of South Riding provide for annual, automatic assessment increases by certain percentages; the cumulative allowable increases since the inception of Proprietary operations are reflected above in the column, “Maximum Allowable Monthly Assessments.”  Please note that the assessments to be collected in any given year may not be raised to an amount in excess of the Maximum Allowable Monthly Assessments without a vote of the Owners.

Detailed 2019 Budget information can be found here.