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Finances
 
HPMA FINANCES - 2016
 
 
 
2016 Budgets & Monthly Reports
 
Budgets    Monthly Reports
 
Contact the Board with any comments or questions

2015 Budgets & Monthly Reports
 

2014 Budgets & Monthly Reports
 

Audits
 
 

Overview
 
HPMA is financed by property owner assessments (95%), and miscellaneous income (5%).
  • General Assessment - all owners
  • Island House Assessment - all IH owners
  • Moorage Assessment - all marina slip owners
A designated portion (14%) of the Annual Assessment is earmarked for a Capital Reserve Fund.  This fund is required by Washington State law to insure the HPMA assets are properly maintained.  The Finance / Long Range Planning Committee is responsible for advising the Board on this fund.
 
The Board establishes an Annual Budget with input from the Board Committees, Manager, and owners.  It then is sent to all owners for ratification in December of each year.
 
Special assessments for capital improvements can be requested of owners at any time by the Board, and requires a 2/3 majority of those voting for adoption.  Special Assessments are only for 1 year.
 
The Board Treasurer is responsible for monitoring the budget and expenditures, and reports to the Board and Community every month.
 
From the Treasurer
 
 
 
 
 
 
2016 Budget Timetable
 
The annual budget process begins in August, and concludes in December with ratification by HPMA owners.
 
The Manager, Committee Chairs, owners-at-large are all invited to participate in the process.
 
Budget workshop will be held October 22nd at the Saturday Board of Director's Meeting.
 
Budget Final Approval will be held November 19th at the Saturday Board of Director's Meeting.
 
Mail budgets/ballots November 23th to property owners.
 
Budget ratification December 17th at the Saturday Board of Direct's Meeting.
 
 
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