Board Adopts the 2026 Budget & Assessments At their October 1st meeting; the South Riding Proprietary Board of Directors adopted the 2026 Operating Budget and Schedule of Assessments. This is a multi-month process that includes an evaluation of all contracts, past and anticipated expenditures.
- Trash/recycling collection contract escalation is 5% in addition to the $1.86 per unit, per month landfill tipping fee increase by Loudoun County that went into effect July 1, 2025.
- Our insurance coverage went up 12-15% this year due to insurance market conditions.
- Our contributions to the replacement reserve accounts increased 12.64% in accordance with the study completed in 2024.
- Vendors like our pool management company are experiencing increases in staffing costs with Virginia’s minimum wage set to increase again from $13.50 to $15.00 in 2026.
- 5% savings from the 2024 landscaping contract carry on into 2026.
- The SR Magazine production costs have stabilized with the new vendor although postage increases are expected again in 2026. Did you know a first class stamp is now $.78?
Members’ equity from past years surpluses ($600,000) and interest income on reserve and capital fund investments (just under $400,000) were applied to the operating budget to keep assessment increases as low as possible.
South Riding will continue to have one of the lowest monthly fees in the greater Northern Virginia region, but the monthly assessment will increase for 2026.
Replacement Reserve Statement
In accordance with the Virginia Property Owners Association Act, South Riding Proprietary is funding its reserve account at the levels recommended in the January 31, 2024 Replacement Reserve Study completed by Reserve Advisors. As of August 31, 2025 the association has a combined $9,438,319.04 in reserve accounts for common areas and private roads. South Riding has budgeted 2026 reserve allocations to be in line with the Reserve Study recommendations of funding the reserves at a combined total of $1,666,800 for the fiscal year. The Reserve Study identified 254 items that will require periodic replacement over 30 years that are to be funded from Replacement Reserves using the cash flow method. Reserve contributions are made monthly and are overseen by the Budget and Finance Committee and administered by an independent financial advisor who distributes funds into laddered Certificate of Deposits in accordance with FDIC laws. There is sufficient cash in the accounts to cover the current funding requirements outlined by the study. The Reserve Study summary can be found HERE.
101.95* Detached Homes (Common Expense $48.01, Recreation Expense $19.72 & Detached Home $34.23)
$115.75* Detached Homes w/ Common Drive (Common Expense $48.01 Recreation Expense $19.72 & Detached Home $34.23 Common Drive $13.81)
$110.80* Townhomes (Common Expense $48.01, Recreation Expense $19.72 & Townhouse $43.08)
$67.70** Lakeside Condominium Units
$93.65** Amberlea Condominium Units
$93.65** Town Center Condominiums Units
*Assessments are rounded to the nearest $.05
**This amount represents the amount paid to SRP. Condominium owners will receive correspondence from their respective management companies and should direct any questions about monthly assessments to them.
OWNERS – TAKE ACTION NOW – Update your payment methods and mailing address
Do you pay using SFMC’s auto debit program? SFMC is South Riding’s financial management company. This IS automatically updated and no action is needed by the homeowner.
Do you pay using Property Pay thru First Citizens? The homeowner MUST update this dollar amount. It is NOT automatically updated.
Do you pay using your bank’s bill pay? The homeowner MUST update this dollar amount. It is NOT automatically updated. Does your bank issue and mail checks for the payment? If so, please allow enough mailing time to ensure on-time payment the 1st of every month.
Do you pay by check and by mail? The homeowner MUST update this dollar amount. It is NOT automatically updated. Coupon books are scheduled to deliver mid-December. Please allow enough mailing time to ensure on-time payment the 1st of every month.
Interested in signing up for direct debit thru SFMC?
Have you moved? Did you provide us your updated mailing address?
Detailed 2026 Budget information can be found HERE and the Budget Line Item Explanation HERE.