AVONDALE HOMEOWNERS NEWSLETTER
November 2007
Dear Neighbors:

I am happy to report that the association is financially sound.   The main goal this year was to pull back on all discretionary spending in order to provide a stable platform from which to confidently project future expenses.  Due to an outstanding lien coming due, the good work of volunteers and this cautious approach to spending, we will end the year with a positive balance of approximately $13,000.  As budgets are approved in one year increments this money will be returned to homeowners through the reduction of 2008 annual dues.  I would like to caution the homeowners that as a board we do not expect this trend to continue.

As we once again start to spend money for repairs and upkeep to insure we have a first class neighborhood, the board expects to fully spend the $15,391 budgeted for normal operating expenses.  In addition the board has built in a board restricted operating reserve of $5,000 for unexpected but needed expenses.  In short, enjoy the reduced dues this year but as we continue to maintain our status as a first class community the dues will increase.

Please find enclosed a copy of the 2008 budget as well as the Avondale Homeowners Association Voting Ballot.  You may mail the completed ballot to AHOA 2920 SE 23rd Ave, Ocala FL 34471 or simply drop it into the association’s mailbox.

While serving as treasurer I have had the privilege of meeting wonderful community members, volunteers and board members.  I look forward to continuing to enjoy living in our beautiful neighborhood with old and new friends.

Sincerely,
Stephen D. Floyd
Treasurer
AHOA