FY17 Budget Approval & Assessment Rate

January 8th, 2016 No Comments

BoD to Approve FY2017 Draft Budget on Monday, January 11, 2016

The FY17 Draft Budget will be approved at the regular Board of Directors meeting on Monday, January 11, 2016. Following the Special Meeting held on Monday, January 4, 2016, the Draft Budget was revised to reflect proposed changes. The newly revised FY2017 Draft Budget has been posted to the Membership Portal. Members can login to their Online Membership Account to download and review the the current proposed budget subject to approval on Monday, 1/11/16.

The revised budget has been posted with an Executive Summary indicating the changes and/or line item reductions.

FY2017 Assessment Rate was Approved

The LLA Board of Directors passed a motion at the Special Meeting on Monday, 1/4/16, and set the FY17 Assessment Rate at 40.4875 cents per $100 of assessed value. This represented a 50% reduction in the Assessment Rate requested in the previously posted FY17 Draft Budget. The Assessment Rate was 39.5 cents per $100 of the average assessed value for FY16. The overall increase in the assessment rate approved by the Board of Directors was 2.5%.

Read Financial Information Online:

Financial information has been added for reference to the Online Membership Portal. Members can login to their account, and navigate to “Library of Minutes” to review this information. New financial information includes:

Audited Financial Statements from FY12, FY13, and FY14

Approved Monthly Financial Statements from March 2015 – October 2015
*Please note November, December and January statements are pending.

*Please Note: All documents posted to the “Library of Minutes” are logged according to their date of record or issue date. This generally relates to meeting dates, approval dates, etc. Residents will need to navigate backwards in time to older documentation to access and download older financials (eg. not all ‘newly posted’ items will present themselves at the ‘top of the list’.)

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