PART I
PURPOSE OF THIS CHAPTER
All property owners in Wekiva are members of the
Wekiva Homeowners Association and are therefore bound by the terms of the
recorded Declaration to pay annual maintenance assessments. The purpose of
this Chapter is to set forth the Association's policies as they relate to:
A. The fixing of annual maintenance assessments;
B. The adoption of annual budgets;
C. The collection of annual maintenance
assessments;
D. The preparation and communicating financial
reports; and
PART II
DOCUMENT AND STATUTORY PROVISIONS RELATING TO
THESE MATTERS
The applicable provisions relating to the above
referenced matters, which are found in the Declaration, the Articles of
Incorporation and the By-Laws of the Association, and in the Florida
Statutes as they exist as of June 1, 1996 are as follows:
A. DECLARATION:
The Board of Directors shall fix the amount of
the annual assessment against each Lot at least thirty (30) days in
advance of each annual assessment period. Written notice of the annual
assessment shall be sent to every Owner subject thereto. The due dates
shall be established by the Board of Directors. (Section 7, Article IV)
Any assessment not paid within thirty (30) days
after the due date shall bear interest from the due date at the rate of
six percent (6%) per annum. The Association may bring an action at law
against the Owner personally obligated to pay the same, or foreclose the
lien against the property. (Section 8, Article IV)
B. ARTICLES OF INCORPORATION:
(The Association shall) fix, levy, collect and
enforce payment by any lawful means, all charges or assessments pursuant
to the terms of the Declaration; (Section (b), Article IV)
C. BY-LAWS:
As more fully provided in the Declaration, (it
shall be the duty of the Board of Directors) to:
(1) fix the amount of the annual assessment
against each Lot at least thirty (30) days in advance of each annual
assessment period;
(2) send written notice of each assessment to
every Owner subject thereto at least thirty (30) days in advance of each
annual assessment period; and
(3) foreclose the lien against any property for
which assessments are not paid within thirty (30) days after due date or
to bring action at law against the owner personally obligated to pay the
same. (Section 2 (c), Article VII)
As more fully provided in the Declaration, each
Member is obligated to pay to the Association annual and special
assessments which are secured by continuing lien upon the property against
which the assessment is made. Any assessments which are not paid when due
shall be delinquent. If the assessment is not paid within thirty (30) days
after the due date, the assessment shall bear interest from the date of
delinquency at the rate of eighteen (18%) (sic) percent per annum, and the
Association may bring an action at law against the Owner personally
obligated to pay the same or foreclose the lien against the property, and
interest, costs, and reasonable attorney's fees of any such action shall
be added to the amount of such assessment. (Article XI)
D. STATUTORY REQUIREMENTS:
1. Required Components of Budget: "The
Association shall prepare an annual budget. The budget must reflect the
estimated revenues and expenses for that year and the estimated surplus or
deficit as of the end of the current year. The budget must set out
separately all fees or charges for recreational amenities, whether owned
by the Association, the developer, or another person." (Section
617.303(6), Florida Statutes)
2. Notice Of Budget: "The Association shall
provide each member with a copy of the annual budget or a written notice
that a copy of the budget is available upon request at no charge to the
member." The copy must be provided to the member within ten (10) business
days after receipt of a written request for the same. (Section 617.303(6),
Florida Statutes)
3. Notice That Assessment Will Be Levied:
"Notices of all board meetings must be posted in a conspicuous place in
the community at least 48 hours in advance of a meeting, except in an
emergency. ... An assessment may not be levied at a board meeting unless
the notice of the meeting includes a statement that assessments will be
considered and the nature of the assessments." (Section 617.303(2),
Florida Statutes)
4. FINANCIAL REPORTING: "The Association shall
prepare an annual financial report within 60 days after the close of the
fiscal year. The association shall, within the time limits set forth in
subsection (5), provide each member with a copy of the annual financial
report or a written notice that a copy of the financial report is
available upon request at no charge to the member. The financial report
must consist of either:
(a) Financial statements presented in conformity
with generally accepted accounting principles; or
(b) A financial report of actual receipts and
expenditures, cash basis, which report must show:
i. the amount of receipts and expenditures by
classification; and
ii. The beginning and ending cash balances of the
association." (Section 617.303(7), Florida Statutes)
PART III
GENERAL TERMS AND PROVISIONS
For purposes of this Chapter, the following terms
and provisions shall apply:
A. ANNUAL ASSESSMENT PERIOD:
The annual assessment period for Wekiva shall be
the calendar year.
B. MAXIMUM ANNUAL ASSESSMENTS VS. ANNUAL
ASSESSMENTS:
The maximum annual assessment is different from
the annual assessment and may be increased each year not more than three
percent (3%) above the maximum assessment for the
previous year without a vote of the members as provided for in the
Declaration. The Board may fix the annual assessment each year at an
amount not in excess of the existing maximum assessment.
C. ABSOLUTE DEADLINE FOR FIXING AND NOTICING
ANNUAL ASSESSMENTS:
The Board must fix the amount of the annual
assessment and notify the members of such assessment at least thirty (30)
days in advance of December 31st of each year.
PART IV
PROCESS OF FIXING ASSESSMENTS AND ADOPTING
BUDGETS
To the extent possible, the Association shall
comply with the following guidelines for the fixing of annual assessments
and the adoption of annual budgets. Unless otherwise required by law,
failure to strictly follow these guidelines shall in no way affect any
such assessments or budgets.
JULY:
1. The Board shall appoint a "Budget
Committee" at its July general board meeting.
AUGUST:
1. Prior to the August general Board meeting the
Budget Committee will meet at a properly noticed meeting to discuss and
prepare a rough draft budget for the upcoming year. The Management Company
will give advice and counsel to the committee and will assist in insuring
that the form of the proposed budget will comply with the statutory
requirements. If possible, the rough draft budget shall reflect year end
figures for the last full year, the current figures for the current year
and an estimate of the year end figures for the current year.
2. In late August or early September, the
Directors will meet and conduct a properly noticed budget "workshop"
meeting (allow approximately three hours). At this workshop meeting, a
line-by-line discussion will be held with the purpose of understanding the
nature of each category, and upcoming plans and needs. After the workshop
meeting, the Treasurer will, if necessary, revise and redraft the budget
with the advice and counsel of the Management Company.
SEPTEMBER:
1. At its September general board meeting the
board will again discuss the refined proposed budget, allowing those
members present the opportunity to provide input concerning the same
OCTOBER:
1. The October newsletter will announce to the
members that at the October meeting the Board will:
a. Fix the annual assessment for the upcoming
year;
b. Fix the annual tennis court fee for the
upcoming year; and
c. Discuss the proposed budget for the upcoming
year.
A prominent notation will be included in that
newsletter inviting all members to the meeting to discuss the proposed
assessment, tennis court fee and budget. Sample wording for such notice
is: "Homeowners are cordially invited to the October xx meeting to discuss
the 19xx annual assessment, tennis court fee and budget".
This newsletter must be mailed in sufficient time
to be received by the members prior to the October general board meeting.
2. At least 48 hours before the October board
meeting, the Management Company shall post the statutory meeting notice
with a statement that assessments will be considered at the October
meeting along with a statement of the nature of the assessments.
3. At the October meeting the board will fix the
annual assessment and the annual tennis court fee for the upcoming year.
4. The proposed budget will be discussed and
refined at that meeting but no final action will be taken thereon.
NOVEMBER:
1. The November newsletter will:
a. Announce to the members that the Board has
fixed the annual assessment and tennis court fee for the upcoming year and
set forth the amount of such assessment and fee; A sample notice is: "At
its October meeting the Board of Directors fixed the 19xx annual
assessment at $XXX per year and fixed the 19XX annual tennis court fee at
$xxx" per year; and
b. Include a copy of the proposed budget, along
with an invitation to all members to attend the November meeting to
discuss the same. Sample wording for such notice is: "Homeowners are
cordially invited to the November xx meeting to discuss the 19xx proposed
budget".
This newsletter must be mailed in sufficient time
to be received by the members prior to the November general board meeting.
This will insure that the members are notified of the fixing of the annual
assessment at least thirty (30) days in advance of the annual assessment
period (the calendar year) which is required by the Bylaws.
2. At the November Board meeting, the Board will
again discuss the proposed budget. Homeowners will be given the
opportunity to ask questions and provide input concerning the same. At the
conclusion of the discussions, the proposed final budget, in the proper
statutory form, will be prepared by the Treasurer with the advice and
counsel from the Management Company.
DECEMBER:
1. The December newsletter will inform the
members that the final budget will be adopted at the December general
Board meeting.
This newsletter must be mailed in sufficient time
to be received by the members prior to the December general board meeting,
2. The final budget will be distributed to the
Board of Directors at the December meeting and will also be distributed to
those homeowners who attend the December Board meeting.
3. At the December Board meeting, the Directors
will make any last minute changes, if any, and formally adopt the final
budget.
PART V
PROCEDURES FOR COLLECTION OF ASSESSMENTS
A. PAYMENT NOTICE/ MAILING DATE/COPY OF ADOPTED
BUDGET:
No later than January 4th of each year a written
notice requiring the payment of assessments that were fixed as provided
for above shall be sent to every owner subject thereto. This shall be done
by way of a written statement sent to each owner by first class mail,
postage prepaid. The statements shall be sent to the last address which is
on file with the Association. A copy of the adopted budget shall be
included in every payment notice.
B. PAYMENT
DATES/DELINQUENCIES/LIENS/COLLECTIONS:
Unless specifically changed by the Board, the due
dates for the payment of the annual assessments shall be as follows:
1. Annual Assessments are due on February 1 of
each year. (Fees are payable in advance).
2. Assessments not received by March 2nd are
delinquent, and interest shall accrue from that date.
3. After March 2nd a second notice of payment
will be sent to those owners who have not paid their assessment by that
date. This second notice shall inform the owners of the Association's
intent to lien the owner's property and shall add interest from March 2nd
at six percent (6%) simple interest. This second notice shall be mailed
before April 1st to the last address on file with the Association by first
class mail, postage prepaid. Any owner who pays their assessment after
March 2nd shall pay interest even if the payment is received before the
second notice is prepared or sent.
4. Owners who still have not paid their
assessments by May 1st will receive a third notice which will be delivered
by certified and regular mail, which will insure that every effort has
been made to contact the owners. This notice shall include at least the
same information as was contained in the second notice. No additional
charges shall be added, however, interest shall continue to accrue.
5. If payment is still not received by June 1st,
a lien will be prepared and recorded in the public records of Seminole or
Orange County, as is appropriate. Upon return of the recorded lien from
the County, a final notice will be mailed to the owner by first class and
certified return receipt mail (postage prepaid) informing them of the
non-payment and the result thereof. In addition to the amounts already
charged, any administrative charges that are charged by the Management
Company to the Association may be charged to the owner to cover postage,
recording, administration and satisfaction fees.
6. If fees are not received within 30 days from
the date that the third notice is mailed to the owner, the account,
including the lien will be turned over to the association's legal counsel
for collection. Additional fees and costs will be charged at this time by
the Attorney as is appropriate.
7. At any time during the above described
collection process, the Association may commence the fining procedure as
outlined in Chapter 13 of this code in an effort to collect the
assessments. This fining procedure shall be in addition to the above
described collection method.
PART VI
WRITE-OFFS AND INSTALLMENT PAYMENTS
A. RECEIVABLE WRITE-OFF:
After all efforts to collect fees, including
legal actions, have failed, the Treasurer of the Board of Directors will
recommend to the Board the write-off to uncollectible accounts.
B. INSTALLMENT PAYMENT REQUEST:
Any resident requesting installment payments for
annual dues must fill out a request form and be present at a Board meeting
for review.
PART VII
ANNUAL FINANCIAL REPORTS
As required by Section 617.303(7), Florida
Statutes, the Association shall prepare an annual financial report within
60 days after the close of the fiscal year. The association shall, within
the time limits set by law, provide each member with a copy of the annual
financial report or a written notice that a copy of the financial report
is available upon request at no charge to the member. The financial report
must consist of either:
(a) Financial statements presented in conformity
with generally accepted accounting principles; or
(b) A financial report of actual receipts and
expenditures, cash basis, which report must show:
1. The amount of receipts and expenditures by
classification; and
2. The beginning and ending cash balances of the
association."
PART VIII
BID REQUIREMENTS / EXCEPTION
A. For all expenditures exceeding $2,000.00,
three bids must be secured by the management company from licensed,
qualified vendors or service providers. In the event that three (3) bids
are impractical to secure, the Board may approve of a lesser number of
bids or may avail themselves of the exception provided for in subparagraph
F below.
B. Specifications for the specific project shall
be placed in writing by the management company subject to approval by the
Board of Directors. The specification shall be provided to each
perspective bidder
C. Copies of the specifications and copies of the
bids, including total bid amount and detail services to be provided, shall
be submitted to the Board of Directors, prior to the board meeting at
which they are to be considered.
D. The Board of Directors will select a bid
assuring the best implementation of the project based on the
specifications, including consideration of the quality of the resulting
project or service and the cost.
E. The project shall not be artificially split
into individual projects to avoid the $2,000.00 level requirements for
competitive bidding.
F. Notwithstanding the above, the Board may
extend existing contracts and transactions or enter into new contracts and
transactions with a vendor or service provider without requiring the above
bidding process, but only if the directors determine, by duly adopted
motion, that to do so is in the best interest of the Association. No such
motion shall be adopted if more than one (1) director votes against the
adoption of such motion.
8/16/93
12/13/96
12/17/96
1/23/97
7/22/99
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