05/20/2025
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DEERFIELD NEWS CONNECTION
Concerns About Fees?
May 19, 2025
Many concerns have been raised regarding annual HOA fees, and whether or not they will be raised after the Board of Directors is elected. When you vote it is important to choose candidates with budgeting and financial planning know-how to keep the annual fees stable and avoid expensive assessments if possible.
The table and chart below indicate reported amounts of income, submitted by Fields Development Co, Inc, through the Discovery process of the lawsuit (orange), in Fields Reports issued to the community (gray), and the actual bank records (blue). There are obvious differences between what was reported and what the bank records indicate.
Plaintiffs’ Dues, held in a court-supervised trust account, are included here to show their proportion relative to total collections (yellow). Based on bank records, these dues made up just 4.5% of collections in 2020 and dropped to under 3.7% by 2024.
POTENTIAL INCOME
The lower table below lists the fee structure put in place in 2023. Using the number of properties that the Fields submitted to Mr. Reams in January 2024, the total revenue possible if every property owner is billed for every property owned, would result in $606,000 income from property owner fees. However, the bank records in 2024 indicate the total amount deposited was $438,348.12; a significant increase from previous years as a result of the fee increases, but significantly less than the $600,000 expected.
PAYROLL EXPENSES-A POTENTIAL COST SAVINGS
In reviewing the “Management Proposal” that Scott Fields submitted to Mr. Reams in 2024, there was a total of $469,060 in expenses. This included $201,869 in payroll expenses.
Historically, payroll expenses have been paid out of the property owner’s security and maintenance fees.
Generally speaking, HOA’s do not have employees. Maintenance contractors are often utilized in HOA’s and they are responsible for their own employee’s payroll expenses along with worker’s compensation insurance, payroll taxes, etc. This could result in lower overall expenses, allowing the property owner’s fees to be used for other expenses.
Many records will have to be examined by the new Board of Directors, making the best financially sound decisions on behalf of the members of the HOA. Having a budget, and a solid plan, is key to a stable future for the Resort.
With only 4 days left to vote, please use your vote wisely!