Over the past several meetings the CSA Board of Trustees has been reviewing both its current and anticipated finances, while also discussing the pros and cons of a dues increase. The consensus is a proposal to increase the annual membership dues to
Per the Association By-Laws, any increase in dues must be approved by the membership at the Annual Meeting. If approved, this dues increase will not take effect until the Association’s next fiscal year beginning July 2021.
The rationale for the proposed increase:
- $175.00 per lot for improved lots (currently $130.00; this is a 35% increase)
- $65.00 per full lot for unimproved lots (currently $45.00; this is a 44% increase)
- $32.50 per half lot for unimproved lots (currently $22.50; this is a 44% increase)
Per the Association By-Laws, any increase in dues must be approved by the membership at the Annual Meeting. If approved, this dues increase will not take effect until the Association’s next fiscal year beginning July 2021.
The rationale for the proposed increase:
- Member dues are the only funds that the Association has available to conduct its business (refer to budget) such as road, beach, and park maintenance; social activities; communication with the membership. In addition:
- The dues income for FY 2019-20 is $31,615.
- Members last approved an increase in the dues in 2003. The vote was 211 “for”, 4 “against”.
- According to our bylaws the Association cannot borrow money (see Article 3, Section f); therefore, we must always have sufficient funds on hand for contingencies such as storm damage to trees, rain washout of roads, and problems related to beach erosion.
- Over the years, individuals within the Association have volunteered their time to address several issues such as the maintenance of the roads as well as the North and South Access decks and stairs. This work has saved the Association thousands of dollars annually. It is not prudent to assume that this level of volunteer activity will always be available. For example, if the Association had to contract for road services, the additional costs to the Association, based upon cost-of-living calculations, are estimated to be an additional $10000 for 2021 and $17000 by 2030 each year.
- In each of the last two years significant expenditures were needed for vital projects that when included with the regular budgeted items caused us to exceed our current dues income. For example, the 2019 Erie Trail chip seal road project alone cost $16,200.
- While the board has been frugal and has thus been able to accumulate a budget surplus, we cannot assume that these funds will be enough to cover any future contingency. Further, since we cannot borrow money to cover emergency expenses it would be irresponsible to delay increasing the dues until the Association’s funds are exhausted.
