CLUB NEWS
As noted earlier, due to the reduction in real estate sales in 2022 we received approximately $1,000,000 less in NOCC fees in the Capital Fund than anticipated. As the vote to increase the NOCC Fee to $100,000 will not be official until December 15, the board felt it prudent to take a conservative outlook for NOCC fees in 2023 along with budgeting for minimal new capital and replacement expenditures. If the vote passes and the outlook for additional NOCC Fees improve, the board will evaluate additional new capital and replacement expenditures during 2023. The Pickleball Facility, Covered Bridge Restroom, Public Works Facility and Meadow Patio capital and reserve projects were approved as part of the 2022 budget to begin in the fourth quarter of 2022 with the remainder to be paid through the second quarter of 2023. To assist with funding the completion of these capital items, funding the annual repair and replacement of existing assets, and retaining more of the NOCC fees in the Capital Fund for future new capital projects, a $75 increase in the reserve portion of the Regular Monthly Assessment was approved for 2023 to $200 per month. This will contribute $2,091,400 to the Reserve Fund which will cover 75.8% of the 2023 depreciation expense. As provided in the Declaration of Covenants, Conditions and Restrictions for Forest Highlands, Section 6.3; the Regular Assessment required to cover the Common Expenses for maintaining and operating the community, as well as providing adequate reserves for the replacement of physical assets is established at $1,250 per member per month and is effective as of January 1, 2023. Your board and leadership team understand this increase in the monthly assessment is significantly higher than in recent years but we are dealing with unique circumstances and believe this increase will enable us to continue to provide and enhance the outstanding service and amenities enjoyed by the membership. Please see page 6 for information on how to participate in the annual Prepaid Dues Program and watch for an email coming out next week.
The 2023 Operating Budget and the 2023 Capital & Reserve budgets are available for member review on the main landing page of the Member website. The November 21 meeting was the final meeting for Todd Weber and Mike Cahill as members of the Board of Directors. We thank them both for their 3 years on the board, their leadership of the Club as President and serving as Chair of their committees, and the selfless dedication of their time, wisdom and expertise in making our community better. In closing, we have enjoyed a successful year at Forest Highlands and we owe a vast majority of the credit to our dedicated employees. They work incredible hours during the peak of our season and are already busy planning now for next season, and we thank them for all they do to make our club and community such a wonderful place to be. On behalf of the entire Board of Directors and Leadership Team, we hope that all of our members, their families and loved ones have a safe and happy holiday season.
Respectfully, Your Forest Highlands Association Board of Directors
We thank them both, Todd Weber and Mike Cahill for their 3 years on the board, their leadership of the Club as President and serving as Chair of their committees, and the selfless dedication of their time, wisdom and expertise in making our community better.
VOICE IN THE PINES | DECEMBER 2022 4
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