The HRCA Budget is prepared by staff and reviewed by the Finance Committee (a group of homeowner volunteers with expertise in finance and accounting). Following the Finance Committee's review, the Draft Budget is presented to the HRCA District Delegates for questions and review and finally to the Board of Directors for approval. Upon approval, the final budget is posted below.
2019 Budget Calendar
| Budget Q&As
2019 Budget Planning Presentations
September 10, 2018 Budget Presentations:
Community Improvement Services, Community Relations & Events, Human Resources, HRCSF, HRCA and Overall Admin Wrap-Up
August 27, 2018 Budget Presentations:
Recreation Programs (Aquatics, Arts & Education, Sports & Fitness)
August 20, 2018 Budget Presentations
Backcountry Wilderness Area and Backcountry Conservation & Education Fund
August 14, 2018 Budget Presentations:
Delegate Meeting – Budget Draft #1 Presentation
June 19, 2018
Delegate Meeting - Budget Planning Kick Off
2018 Adopted Budgets (posted 11/15/2017)
2018 Budget Overview:
The HRCA budget development process is approximately six months long. The process includes internal staff preparation, direction from the CEO and Board of Directors, weekly meetings with the Finance Committee from August to October and input from the Delegates at three budget presentations throughout the preparation process. Each HRCA department presents their budget to the Finance Committee and is responsible for explaining variances to budget throughout the year. Following each department’s presentation, the respective draft budget(s) and presentations were added to the HRCA budget website for public review. The Finance Committee, which is comprised of finance professionals with varying backgrounds, recommended the 2018 budget to the Board of Directors in October 2017. The proposed budget was presented to the Delegates in October 2017 with a one month comment period prior to the Delegates approval of the proposed budget on November 14, 2017. The Board of Directors adopted the 2018 budget at the November 14, 2017 meeting.
The 2018 HRCA budget includes a $4 per quarter, or $16 per year, increase in assessments. This increase includes a $3.75 per quarter ($15/year) increase to the Recreation Fund assessment and a $0.25 per quarter ($1/year) increase for the Administrative Fund assessment. The increase to the Recreation Fund assessment will aid in funding increases in employee costs, transfers to the Recreation Reserves Fund and recreation facility operations. The increase to the Administrative Fund assessment will aid in funding increases in employee costs, as well as an increase in transfers to the Administrative Reserve Fund. The increase in employee costs is primarily attributable to the 2018 mandated minimum wage increase (from $9.30 per hour in 2017 to $10.20 per hour in 2018), an increase in medical insurance premiums and the addition of a new Information Technology manager position. Transfers to the Administrative Reserve Fund and Recreation Reserve Fund are based on our 30-year forward looking reserve study, which provides a repair and replacement plan for all of the Association’s existing assets. The Association tries to fund all of these projects with cash, while maintaining account balances in accordance with our fund management policy.