2023 Projected Budget Forecasts

By Randy Ecklund

For the past several weeks your respective community management teams, finance committees, and boards have been working on 2023 operating budgets. As of this writing some of your boards have not quite finalized their numbers, however here is a quick glimpse of how next year appears to be shaping up.

Summerlin North – The North currently projects 2023 revenues and expenses of $13,083,855. This would be accomplished by increasing the present monthly assessment rate to $60 per unit starting January 1, 2023.

Summerlin South – The South is projecting 2023 revenues and expenses of $9,555,561. This would be accomplished by increasing the present monthly assessment rate to $57 per unit starting January 1, 2023.

Summerlin West – The West anticipates revenues and expenses of $9,204,740 in 2023. This will be accomplished by maintaining the present monthly assessment rate of $55 per unit.

Summerlin Council – The Council anticipates spending $15,280,930 next year for community park and recreation operations. To accomplish this, the Council’s projected monthly share of your master association assessment will increase $1 to $26 per unit. It is important to note the $26 per month allocation is included in your respective monthly association assessments.

As a reminder, Council dollars focus on community center and pool operations, programming, special events and activities, maintenance and preservation of general park conditions, and any necessary park renovations or repairs.

This year’s Council increase is primarily due to added personnel, growing labor and utility costs and targeted special turf projects. The North and South master associations would also be increasing their assessments primarily in response to increased labor and utility costs, as well as anticipated costs to mandated turf reduction projects designed to address relentless drought conditions.

Please note that more specific budget information is mailed to each of you by your respective associations as part of your annual budget ratification process.

My thanks to the many individuals that volunteered their time to work on next year’s numbers. It is my sense that each of these budgets achieves the overall goal of preserving the operations and appearance of our Summerlin community in the most value-conscious way possible.