The finances of VillageWalk Home Owner's Association are managed by the Town Manager, the Property Manager (Southwest Property Management) and the Board of Directors. The Finance Committee (comprised of homeowners with financial credentials) is highly involved in the budgeting process, monitoring expenses relative to the budget, reviewing accounts receivable and making recommendations to the Board of Directors on financial and treasury matters.
The VillageWalk of Bonita Springs budget is reviewed with owners at an annual Budget Review meeting in November. This meeting allows home owners the opportunity to ask questions and give commentary before the budget is reviewed and approved by the Board of Directors. The latest presentation to owners can be found in the secure portion of the swebsite.
There are two types of costs associated with VillageWalk Home Owner's Association;
- costs which are common to all homes, such as maintaining the pools, and
- neighborhood costs, such as landscaping around each home.
Homeowners are equally charged their share of the common costs in the budget plus their share of the neighborhood costs assciated with their model / lot size. Approximately 75 percent of the VillageWalk costs are common costs. .
Included in the budget is a reserve for future capital expenditures and major maintenance expenditures. Prior to 2016, the amount set aside for these reserves was estimated based on the experience at other similar communities. Starting in 2916, the reserve fund amounts are based on studies prepared by a qualified engineering firm.
Additional information is available on the Finance Committee webpage