At the Annual Meeting on October 7, 2017, members voted in favor of the Board of Director’s recommendation to keep the annual assessment fee at $500 for 2018.
The Board’s efforts to meet our obligations while staying within budget, together with continued collection efforts and prompt payment in full by the majority of property owners, eliminated a need to increase the annual assessment fee.
Despite the Board’s efforts to reduce the amount of past due assessments through outreach to property owners, setting up payment plans, and, in some cases, filing suit in Small Claims Court or working with financial institutions, a significant outstanding past due balance remains. At the suggestion of members, the Board may also employ a collection agency in order to recover past due funds from owners who fail to respond to requests for payment or offers of payment options.
An annual late payment charge on accounts carrying a past due balance, as set forth in the ALPOA Bylaws, will remain in place. Late charges will be assessed on December 31, 2017 at 10% of the past due assessment fee balance to a maximum amount of $50.00.
See “Meeting Minutes” under Association Info for the monthly financial report.