The Master Board and Finance Committee as well as the property manager have been working on the 2025 Master budget since last July. The process is a cooperative effort of fifteen residents providing input and review. Our primary goal is to keep our community functioning and looking its best at all times for a reasonable cost. The past few years have seen the Master and the Neighborhood associations expend large sums from our reserves. With Hurricane Ian in late 2022 (total cleanup costs of $350,000), the major Repaving project in 2023 (total paving cost approximately $800,000), and three near storm misses in 2024, the reserves have been significantly depleted in all associations. The Master Board decided to keep its Assessments for 2024 the same as 2023 at $540 per door per quarter. We hoped this would give the Neighborhood Associations time to recoup and rebuild their reserves. However, with the Master contracts and costs constantly increasing, we are not able to hold the line for 2025. The Master assessment for 2025 will be $600, which is included in your Neighborhood quarterly assessment.
To view a detailed breakdown of the Master expense categories for 2025 click on the following link – 2025 Master Budget Detail
The above costs include certain expenses that are shared with the Club for which they will reimburse the Master association.
The Comcast Bulk Services contract costs represent approximately 50% of our total budget. Though seemingly high, this results in our residents receiving high speed internet and a premium cable package, at approximately 50% less than current market prices, with additional options such as land line phone services for an additional discounted price.
The final approved budget is available on our website (Grandezzamaster.com)
