FINANCIAL UPDATE
During the 2016 financial period, the Ironwood Homeowners Association was able to cover expenses and add some much needed protection for the neighborhood. We purchased a blanket damage/liability insurance policy for our neighborhood’s common area/sign/sidewalk and incurred some smaller fees that go along with taking digital payments and extending our website’s domain name. The Homeowner’s Association Board has decided to keep dues at the same level as 2016 ($60.00 per household/lot) and invoices have already gone out. Other expenses incurred in 2016 included filing taxes; lawn services, and administrative costs. The website hosting is again being donated by CedarCreek Church.
Statement of Revenue and Expenses
For the Year Ended December 31, 2016
REVENUE
Homeowners Dues: 3,413.38
Bank Interest: 5.10
TOTAL REVENUE: $3,418.48
EXPENSES
Liability Insurance (paid for 2015 and 2016): 1,000.00
Lawn Care: 1,756.59
Tax Fees: 150.00
PO Box / Postage: 88.80
PayPal Fees: 36.72
Website Domain Name (paid for 2016 – 2020): 52.35
Total Expenses: $3,084.46
NET INCOME/(LOSS): $328.92
A few of you have paid past due balances (and we thank you) but there are still a handful of families who have not paid the legally required HOA dues. The board is notifying those who are past due along with their invoice. According to the neighborhood’s restrictions all residents are bound to, which are on file in Wood County, residents who are two or more years overdue are eligible for a lien to be placed on their property (at their expense). If you have outstanding dues, we will work with you to avoid this! Please contact the current HOA Treasurer, Stacy Konidaris (stacykonidaris@yahoo.com or at the address at the end of this letter) to discuss options. If you do not address this debt, we will begin collection processes this summer. We’re all in this together!
WEATHER DAMAGE
We have had a few high wind storms roll through over the early spring months. Many houses sustained shingle damage. If you haven’t checked your roof, please do so. Catching this before the spring rains come and do immense water/mold damage to your home will be of great benefit to you and our neighborhood.
WEBSITE UPDATES
If you haven’t checked out http://IronwoodRossford.com yet, please take the time to do so. It is a great resource for our neighborhood. You can easily and securely pay your yearly dues online via PayPal (no account required). Also if you haven’t yet subscribed for email updates of these notices, you can subscribe by going to http://IronwoodRossford.com/news.
BOARD NOMINATIONS AND ELECTIONS
HOA Board elections are here again to elect 2 seats on our 5 person Board of Directors. A nomination form was placed in everyone’s mailbox. Please contact any of us if you have questions after reviewing these documents. The winners will serve 2 year terms, and the other 3 seats are up for election in 2018 for 2 year terms, so there will never be a full board turnover in a single year. This keeps us in compliance with state law regarding HOA Board election cycles (at least 20% of seats up for election each year) while giving us some protection from information loss as at least two seats will always be occupied throughout the election cycles.
DUES
As stated previously, you should have already received your 2017 invoice for the Ironwood Homeowners Association. Please return promptly and if you have a past due balance, contact Stacy to set up a payment plan so we can work to get you current with the rest of the neighborhood. If you have any questions, don’t hesitate to ask. Thanks!
Sincerely,
The Ironwood Homeowners Association Board
Ironwood Homeowners Association
P.O. Box 104
Rossford, OH 43460
http://IronwoodRossford.com