Financial & Budget Reports

Financial and Budget Reports, Reserve Studies

Rainbow in a lavender sky. Photo by Barbara Brooner.
Rainbow in a lavender sky. Photo by Barbara Brooner.

Five major categories of association financial information can be found here: Yearly Budget, Monthly Financial Reports, Reserve Studies, Financial Reviews and Audits, and Fire Trust Fund Summary Records.

Older reports are retained in the official files of the Sunland Div 17 HOA; owners can contact the board secretary to arrange a time to access them.

Yearly operating budgets

The association’s budget year is the same as the calendar year (January through December). The board adopts a recommended budget as part of its August meeting, and submits the budget for membership ratification as part of the annual membership meeting in September.

Monthly Financial Status Reports

Each month the Board Treasurer reconciles actual income and expenditures against what was budgeted, providing the association with a year-to-date assessment of financial health. These are kept for the current year and six preceding years.

2024

2023

2022

2021

2020

2019

2018

2017

Reserve Studies

Washington state law requires homeowner associations to conduct annual “Reserve Studies,” which calculate projected major expenses for the upcoming 30-year period and assesses how well the association appears to be saving (setting aside “Reserves”) towards those major expenses. Reserve Funds are not technically required, but the study is used as both a long-range planning tool for the association and an indicator of the possible need for Special Assessments down the road, when major expenditures are likely to occur.  The study has to be conducted by an outside specialist each third year, and updates are done “in-house” for the two intervening years.

Financial Reviews & Audits

By law, the association membership, at each annual meeting, votes whether they would like to have a full Audit conducted on the outgoing year, or if a less extensive Financial Review is sufficient.  The reviews are conducted during the following summer, with a report available to the membership by the next annual meeting; the reports are also posted here.

Fire Trust Fund Summary Reports

Note: this fund was closed in August 2020.

As the insured party, the Association received and disbursed the insurance settlement for restoring the fire-damaged units at 191 and 201 Cascadia Loop; these reports summarize the status of those funds.

2020

2019

2018

2017

Front yard Deer

Front yard deer

♜ Historical ♜

This is the financial information provided to owners during the period of Declarant control, i.e., before the HOA was turned over to the owners at the end of 2012.

Financial reports, developer control

Annual Financial Reports

Statement of Cash Position 2012
Statement of Cash Position 2011
Statement of Cash Position 2010
Statement of Cash Position 2009
Statement of Cash Position 2008
Assessments and Expenses 2011
Assessments and Expenses 2010
Assessments and Expenses 2009
Assessments and Expenses 2008

Past Budgets

Estimated Operating Budget 2013
Estimated Operating Budget 2012
Estimated Operating Budget 2011
Estimated Operating Budget 2010
Estimated Operating Budget 2009

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