Board Adopts the 2027 Budget & Assessments At their October 7th meeting; the South Riding Proprietary Board of Directors adopted the 2027 Operating Budget and Schedule of Assessments. This is a multi-month process that includes an evaluation of all contracts, past and anticipated expenditures.
As operating costs continue to rise throughout the nation, additional revenue is needed to preserve the services, facilities and programs residents currently receive. Costs for labor, fuel, utilities, landscaping materials, trash collection, insurance, professional services and other operating expenses continue to increase.
The additional assessment revenue is not funding an expansion of services. Rather, it allows the Proprietary to maintain the current level of service while continuing to fund the reserves* and ongoing maintenance needed to maintain and protect South Riding’s amenities and infrastructure.
Members’ equity from past years surpluses ($400,000) and interest income on reserve and capital fund investments ($425,000) were applied to the operating budget to keep assessment increases as low as possible.
South Riding will continue to have one of the lower monthly fees in the greater Northern Virginia region, but the monthly assessment will increase for 2027.
*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 September 30, 2026 the association has $9,604,492.51 in reserve accounts for common areas and private roads. South Riding has budgeted 2027 reserve allocations to be in line with the Reserve Study recommendations of funding the reserves at a combined total of $1,853,900 for the fiscal year (up from 2026 total of $1,666,800). 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.
$110.30 Detached Homes (Common Expense $51.46, Recreation Expense $22.29 & Detached Home $36.52)
$126.80 Detached Homes w/ Common Drive (Common Expense $51.46 Recreation Expense $22.29 & Detached Home $36.52 Common Drive $16.49)
$122.40 Townhomes (Common Expense $51.46, Recreation Expense $22.29 & Townhouse $48.60)
$73.75** Lakeside Condominium Units
$100.15** Amberlea Condominium Units
$100.15** Town Center Condominiums Units
All 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.
The governing documents of South Riding provide for annual, automatic assessment increases by certain percentages. The 2027 rates are well below the cumulative allowable increases since the inception of Proprietary operations (maximum allowable monthly assessments for 2027: Detached Homes $979.98, Detached Homes with Common Drive $1,151.33, Townhomes $982.56, Condos $579.91**). Reference: South Riding Declaration, Article 6.2
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?
The 2027 Assessment information can be found here, the budget here, the unit type $ variance explained here and the line item explanation here.