Another year is winding down in Cary, NC and what a blessing it is to have been here to enjoy it. The Edgehill Farm Master Association had a successful year, complete with a major community pool renovation and upgrade. It costs tens of thousands of dollars but the community’s commitment to saving over the last few years allowed to us to cover the costs without assessment or loans.
Heading into 2012, we’ll be running the community in “maintenance mode.” Our amenities are in good order and we’ll keep watch over them, moving quickly when repair needs dictate. If we have an average year with dues collections – and there’s no reason to expect anything other than smooth sailing – the board will begin tackling a loan that’s been on our books. The community possesses more cash-in-hand than loan debt and its historical “big ticket” repair demand, which seems to be the pool every eight years or so, was met in 2011. So, now’s the time to retire that loan and then focus on building our “Rainy Day” reserve fund accounts at a monthly rate that could top twice the rate we’re currently able to save on a monthly basis. This is THE protection against undesirable assessments or loans when emergency situations arise for which there is no way to budget in the regular operations budget.
The challenging economy is being felt by most of all of us and we recognize it. But, we’ve still not determined a way to have the property take a break from needing so much regular maintenance, but such is life in a suburban community with a pool, lake and paved walking path. Thank you for your confidence. If you’re a resident of Edgehill Farm or own property and want to stay informed, send us a note and we’ll add you to a private email list where we send out not-so-often updates, on an as-needed basis, letting you know what’s happening around Edgehill Farm.
Our next regular business meeting is the second Tuesday night in February, 2012.