Spring Run is a golf inclusive planned community consisting of 847 residential units including single family homes, carriage homes, attached villas, and garden condominiums. Bundled communities - such as Spring Run - also known as a CIRAs (Common Interest Realty Associations), are responsible for property maintenance and repairs, management services, and other tasks defined in its governing documents. The association is funded by ongoing member assessments. Members elect the association's Board of Directors, which represent their interests in the association. However, beyond this basic understanding of bundled communities and their structure of governance, the association's financials can be a little hazier. What factors are taken into consideration when raising the Club's annual assessment? Can that be off-set by raising rates for services? How is the operating budget divided among the departments within Spring Run? Have our financials bounced back since the renovation?
Purpose: Learn about Spring Run's finances and structure of governance
Facilitators: Mike Zigler
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