2024 Board Election


2024 HOA Board Election

The role of an HOA board is to govern and manage the affairs of the community association, including setting and enforcing policies, managing finances, maintaining common areas, and ensuring compliance with applicable laws and regulations. The board works to maintain and enhance property values, promote a harmonious community, and protect the rights and interests of all residents. The board is responsible for making decisions that affect the community, such as setting and collecting dues, managing community amenities, and resolving disputes between residents. Overall, the role of the HOA board is to ensure the effective operation of the community and serve the best interests of its residents.

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2024 Board Election Read More »

2024 Proposed Budget

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Grand Lake HOA Budget

Grand Lake HOA
Proposed Budget
BudgetBudgetYTD Actual
Association dues - $500/yr84,500.0084,500.0083,885.46
Dues Increase - $200/yr33,800.000.000.00Expenditure per Household(169) - $700
Clubhouse Rental1,900.001,900.001,600.00
Late fee1,500.001,500.001,705.00
Violation fine0.000.001,300.00
Key fee0.000.00225.00
NSF fee0.000.000.00
Legal fee0.000.000.00
Interest Income0.000.00421.44
Other Income0.000.0016.00
Closing fee0.000.000.00
Total Income $ 121,700.00 $ 87,900.00 $ 89,152.90
Loan Debt Service - $809.91/m x 12 $ 9,707.00 $ 9,707.00 $ 7,280.19
Property Management
Property Management Fee12,168.0012,168.0010,140.00Last year of contract 2024
$ 14,440.00 $ 14,440.00 $ 11,564.00
Landscaping Contract18,940.0017,940.0014,710.00Increase by $1k per year
Aqua Systems - Lake Algae Treatment0.000.000.00
Landscaping - Other0.000.0093.24
Irrigation System Repair1,000.00550.00273.49
Hardscape Repair & Improvements750.000.000.00
$ 20,690.00 $ 18,490.00 $ 15,376.73
Cleaning Services2,250.001,600.001,760.00
Consumable Supplies250.00250.00149.37
Pest Control & Termite Service500.00750.00250.00
Security Camera Replacement0.00800.00826.07
Emergency Exit Install - Pool0.000.00337.50
HVAC Service and Repair500.00500.000.00
Clubhouse General Maintenance & Repair800.00300.001,763.89
Clubhouse Paint0.00800.000.00
Insurance5,000.004,600.004,068.48End of yr expense projection at $4,867.20
Real Estate Taxes2,925.002,650.002,784.00Approx 5% Increase
$ 16,350.00 $ 18,550.00 $ 15,269.64
Pool Maintenance Contract5,200.004,900.004,705.00About a 6% Increase
Pool Chemicals4,500.003,900.004,231.00About a 6% Increase
Pool Repairs650.00500.00477.63
Pool Supplies150.00150.0018.35
$ 10,500.00 $ 9,450.00 $ 9,431.98
Community Events
Craft and Party Supplies250.00250.000.00
Association Events500.00500.00168.15
$ 750.00 $ 750.00 $ 168.15
Loan Payment23,385.2423,385.2419,487.70Loan Balloon Maturity 05/20/2025
Bank Charges0.000.00272.00
Other Admin0.000.0075.47
Internet/Email Services1,800.001,497.001,471.85
$ 26,685.24 $ 25,382.24 $ 21,507.02
Capital Improvements
Computer Equipment Purchase0.000.000.00
Seawall Repair0.000.0012,012.09
Loan Proceeds Used for Seawall Repair0.000.00(12,012.09)
Clubhouse Furnishings0.000.000.00
Pool Furnishings850.00837.000.00
$ 850.00 $ 837.00 $ -
Additional Principal Payments on Debt $ 15,000.00
Transfer to Reserves $ 3,277.76
Total Expenses $ 118,250.00 $ 97,606.24 $ 80,597.71
Net Cash Flow0 $ (9,706.24) $ 8,555.19

2024 Proposed Budget Read More »

HOA Cost-to-Value Report

HOA Cost-to-Value Report

Report on Similar HOAs

HOAAmenitesHousesDues/yrOperating Budget
Riverside Landing HOAClubhouse, CH Rental, Pool. Pond201$400.00$80,400.00
Hermitage HOAClubhouse, CH Rental, Pool161$425.00$68,425.00
Hampton Ridge HOAClubhouse, CH Rental, Pool, Pond335$450.00$150,750.00
Dairy HOAPool, Clubhouse rental, Common Area Maintenance253$500.00$126,500.00
The Bridges HOAClubhouse, CH Rental, Pool104$480.00$49,920.00
Grand Lake HOAPool, Clubhouse rental, Playground, A large community Lake, and Common area maintenance169



Foxfield HOAClubhouse, CH Rental, Pool135$750.00$101,250.00
Aldrige HOATwo Large Lakes, Comman Area Maintenance, Greenway Access107$900.00$96,300.00
Sumerset Lake HOALarger Lake, direct greenway access, Common Area Maintenance70$1,400.00$98,000.00
Woodmill Trace HOAClubhouse, Gym, Pool, Comman Area Maintenance132$1,560.00$205,920.00

Analysis & Findings

The board was able to gather data about similar HOAs to Grand Lakes through Elite. We did find that several HOAs had lower dues than us. Some have the same or lower dues but have more members resulting in a much higher operating budget. Raising our rates to $650 will have us closer to the higher range of dues on the list. However, we questioned Elite about the HOAs that had very low dues or operating budgets and they said that a significant difference for those HOAs is that they do not have debt that was turned over to them by their builders. Additionally, Hermitage HOA, which is the most similar to our community, will be raising their dues this year to $650 because they had to do a major renovation to their clubhouse and it used all their reserves and left them with 20,000 in debt. 

Based on this report and that information the board still believes that moving forward with increasing our dues to cover our significant debt is the correct course of action. 

HOA Cost-to-Value Report Read More »

Lake Renovation

Lake Renovation Infomation

The lake retaining wall is in disrepair and we need to address the issue before it gets any worse. The longer we wait to fix the issue the more costly it becomes. We have received a quote from New Era Construction for the repairs. You can view the quote here. The repairs will cost a total of $48,024.

The board is seeking a loan to cover the cost of the repairs so that we can move forward with the repairs in a timely manner. However, the board would like to quickly pay off the loan with a special assessment divided equally between all households. The special assessment will be up to $300 per household split into two payments to cover the cost of the loan and any fees and interest on the loan.  

Please vote below! If you would prefer to vote by a paper ballot download the ballot below and return it to a board member via email of hand delivery. 

Download Ballot

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Lake Renovation Read More »

Pool Season Reminders

During pool season the board would like to remind all residents to know the pool rules and to treat each other kindly while at the pool.

Pool Hours are:
Sunday – Thursday – to 10 pm
Friday – Saturday – to 11 pm

Pool Rules

  • Swim at your own risk. No lifeguard on duty.
  • Keep gates closed and locked at all timesDo not prop open.
  • No running, horseplay, or foul language.
  • No Diving
  • No Smoking or Alcohol in the pool area.
  • Swim Diapers are required for infants and toddlers.
  • Children under the age of 14 must be accompanied by an adult at all times.
  • No pets are allowed in the pool area for any reason.
  • No glass containers or bottles are allowed on the pool deck.
  • All members are responsible for cleaning up after themselves. Any items left at the pool may be discarded by the HOA.
  • Proper swimming attire is required at all times.
  • No more than 4 guests per member without prior approval from the pool committee. All guests must be accompanied by a Grand Lake Homeowner.

Additional Guidelines:

  • You must have your key fob to enter the pool.
  • If you are the last one to leave the pool, please make sure the gate is closed.
  • Observe all pool rules posted at the pool. We have no lifeguard on duty. Swim at your own risk. There is a first aid kit in the women’s restroom, as well as a fire extinguisher.

Pool Season Reminders Read More »

ARC Compliance

As a reminder to the community, it is very important to submit a proper ARC Request for any Improvements or changes to your property. Adding a Fence to your property also requires an ARC request. Additionally, the community guidelines detail the allowed stain colors for fences. Residents can find the Fencing Guidelines listed on our Residents page.

Residents can submit an ARC request through the AppFolio Portal provided by Elite Housing Management.

ARC Compliance Read More »