Rainbow Lake Estates. Annual Meeting October 15, 2009. Agenda. Call to Order Year In Review Review of the Proposed Budget Including Road Maintenance Plan Approval of the Proposed Budget Election of New Board Members Volunteers for ARC, LC, and SC Direction for 2010 Open Discussion
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October 15, 2009
Unallocated reserves is a 14% contingency built into the budget for unforeseen expenses or ultimate allocation to reserves for future
This was the first year that asphalt reserves were budgeted, fate of PID was unknown at the time, but reserves needed to be allocated just in case PID did not materialize
There have been no funds budgeted for road or fence reserves since 2004
Proposed Maintenance Plan, Estimated Costs, and Funding Options Option 1 is Proposed(Out-of-Pocket costs to each Lot for maintaining roads over next 15 years is estimated at $9000)