The Board of Directors has approved the new budget for the fiscal year 2019. The Board has reviewed the expenses and compared to our reserve report and is keeping the assessments at the current level. The sub metering has contributed to this decision and The Board, along with our management company, will continue to closely monitor our monthly expenses as we move through next year, placing a strong emphasis on increasing our capital reserves. A copy of the 2019 budget is included.
The Board has made some improvements to the rails and siding this year as well as taken care of some unforeseen electrical cost and plumbing cost. Next year we have a large-scale roofing project beginning with at least 8 buildings having new roofs installed. We also have the sealing and minor repair of the parking lot on the agenda.
As always, our goal is to make University Woods an exceptional place to live and a sound financial investment. On behalf of the Board of Directors, I wish you a Happy Holiday Season and a prosperous New Year.
Respectfully
Jeb Black
Property Manager / Broker
Wilson Property Management