Building a better Tanglewood
Where the money goes
A 1966 community stays in good shape because someone funds it, schedules it and follows through. That is most of what the Association does.
Ongoing
What the Association maintains, every year
These are not one-off projects. They are the standing commitments funded by monthly assessments and the replacement reserve.
Current & recent
Capital projects
Specific improvements the Board has approved, is running, or has recently completed.
How it gets paid for
Operating funds and reserves
The Association keeps two pots of money. The operating fund covers the year's running costs — landscaping contracts, pool service, utilities, insurance, repairs. The replacement fund — the reserves — accumulates against the big, predictable items that come due on a long cycle: roofs, repaving, pool resurfacing, painting rotations.
Regular assessments are set from a budget adopted 45 to 60 days before the fiscal year, and a regular assessment cannot rise more than 20% over the prior year without a member vote. A special assessment above 5% of budgeted gross expenses also requires a member vote. The Board must make minor repairs up to 5% of budgeted gross expenses without going to the membership at all.
Owners are entitled to the budget, the reserve study and the financial statements. Ask the manager.
Spotted something that needs work?
Small things caught early are cheap. A sprinkler head, a loose paver, a light out on the walkway — the office would rather hear about it twice than not at all.