2023 Approved Operating Budget:

 

The HOA Board

have met to review bids, along with the previous budget, and have approved the budget below and yearly dues for Yarnell Station Homeowners.   

 

Landscape Replacement Cost:         $1,000
Bank Fees:                                    $40
Postage:                                       $200
Mailing Supplies:                           $175
Irrigation Repairs/Maintenance:      $1,000
Annual Report:                              $45
Insurance:                                    $900
Website:                                       $220
Water/Electricity:                           $1,500
Attorney’s Fees:                             $3,000
Monthly Lawn Fees:                        $9,500
HOA Management Fees:                  $5,700
Meeting Venue Cost:                        $210

       

Total Budget:                               $23,490

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The complete budget is $23,490, with the only expense that has gone up being our lawn maintenance. Despite the increase, we've looked for other vendors, but Total still offers a better deal. With this budget, we plan to collect a total of $28,188 in 2023, which includes a 20% contribution to our reserves account.  
 

Based on our conversations with our contractor, the front sign is beyond repair and must be completely rebuilt.  We have received a final estimate to rebuild the sign, add to our columns on either side to enhance the neighborhood's curb appeal, and stain the front fence.  The Board has decided to cover repairing the front entrance and landscaping costs by taking the funds from our Reserves account. This means homeowners will not have to pay a special repair assessment. To ensure we have enough money in our reserves for the future, we have increased the funding from 15% to 20% this year.  If you have any questions on this project or want more information, please get in touch with us or Andy Fennell, our Property Manager! 

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Payment Options:

• Dues per home for 2023 are $330, due by July 15, 2023. 
   

• If you are not comfortable paying in full by the deadline, you can divide the payment into two bi-annual payments of $175, equaling $350.  The first payment will be due by July 15, 2023, and the second payment will be due by January 15, 2024.  You will need to email andy@fennellpm.com to let him know you want to set up bi-annual payments and submit your first payment before July 15, 2023

 

Payment Deadlines:

• Dues are due by July 1, 2023 (must be received or postmarked by this date.) Please make your check payable to Yarnell Station HOA and mail it to Yarnell Station HOA c/o FPM PO Box 34009 Knoxville, TN 37930.   If you cannot make this payment by the due date, please get in touch with Andy@fennellpm.com. We would be happy to work out a payment plan.  All payments submitted after this date will be assessed a $25 late fee per month not paid. 
   

• Any unpaid invoices after August 15, 2023, will be turned over to the Association’s attorney to collect the payment.  Please note that this action will incur legal fees, which will be assessed to the homeowner and added to the total amount owed. 
   

• Any unpaid invoices the Association’s Attorney cannot collect by September 15, 2023, will result in a lien being filed against the property.  This action will incur legal fees, which will be assessed to the homeowner and added to the total amount owed. 
   

• If you have any questions about this budget, dues, or the HOA’s finances, please don’t hesitate to contact Andy@fennellpm.com, our property manager! 

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Please make checks payable to Yarnell Station HOA

 

CHECKS:  Please mail by due date to the following

 

Yarnell Station HOA 

C/O Fennell Property Management

PO Box 34009

Knoxville TN 37930

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