14 THE CHARBONNEAU VILLAGER December 2022
Charbonneau Financial Oversight Committee
BY JOHN MCLAIN
How much are my dues in 2023 ?
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The Charbonneau Country Club ( CCC ) Board of Directors approved the budget for 2023 at the November Board meeting .
The impact of inflation ,
MCLAIN expanding staff positions
and increased reserve requirements all created upward pressure on expenditures in 2023 . However , there are expected increases in user fee revenues for Charbonneau amenities such as the marina , tennis center and growth in pickleball and fitness center memberships , which help offset the increases . The Capital Improvements Fund is adequate for current and future projects and does not require an increase in dues for 2023 . We were also fortunate to secure additional loan funding for future capital projects at the low interest rate of 3.125 %. So , after looking at all the other ways to reduce expenses and project costs , the impact on CCC dues for the year 2023 is an increase of 8.4 % or $ 8 per month per residence , which means a total monthly dues assessment of $ 103 per month per residence . The dues are split into the three separate funds that support CCC operations , reserves for replacements and capital improvements .
From those three separate funds , there are several major expenditures for “ replacement projects ” and for “ capital improvement ” in the year 2023 . � Marina replacement � Events center replacements : doors , siding , windows and more � New building covering outdoor tennis / pickleball courts � Edith Green Park upgrade and amenities The total expenses and expenditures in the approved 2023 budget are : � $ 2,357,355 from the Operations Fund � $ 1,547,954 from the reserves for replacements � $ 2,586,040 from the reserves for capital improvements � $ 6,491,349 in total expenses , replacements and improvements Even with all these and other projects planned for 2023 , the expected ending balance for reserves and operating working capital is still a prudent amount of $ 1,028,408 at the end of 2023 .
The CCC budget process also requires an estimate of future costs , replacements , and projects to anticipate future funding challenges for the CCC Board . Forecasts of the future are always just estimates , but the exercise is beneficial in that we can prevent any surprises and be planful and prudent in adjusting the annual dues assessments . The most difficult item to estimate is the expected rate of inflation . It was not anticipated by most experts to be as large , or as quick , as we experienced recently . The target inflation rate by the federal reserve and most economists is 2-3 %, which is what the CCC Board has assumed in the CCC forecast through the year 2027 .
This chart shows Charbonneau Country Club ’ s budget for 2023 .
COURTESY GRAPHIC
But it remains to be seen whether the current surge in inflation will come back down by 2024 .
The budget and forecast spreadsheets will be posted on the CCC website or are available in print at the CCC Office ( call ahead please ). This is a lot of detail and data that can sometimes make it difficult and time-consuming to boil things down to the important things you want to know and understand . So , I invite residents to come to an informational meeting with me and other board members to simplify and explain more about the CCC budget / forecast process . Ask questions and get some answers .
Tuesday , Dec . 13 at 7 p . m . in the activities building .
This is a BYOB event .
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