For the past several weeks your respective community manage-ment teams, finance committees, and boards have been working on 2022 operating budgets. Here is a quick glimpse of how next year is shaping up.
Summerlin North – The North currently projects 2022 revenues and expenses of $12,682,681. This will be accomplished by increasing the present monthly assessment rate to $57 per unit starting January 1, 2022.
Summerlin South – The South is projecting 2022 revenues and expenses of $9,121,295. This will be accomplished by increasing the present monthly assessment rate to $55 per unit starting January 1, 2022.
Summerlin West – The West anticipates revenues and expenses of $8,074,280 in 2022. This will be accomplished by increasing the present monthly assessment rate to $55 per unit starting January 1, 2022.
Summerlin Council – The Council anticipates spending $14,445,925 next year for community park and recreation operations. To accomplish this, the Council’s projected monthly share of your master association assessment will increase to $25 per unit. It is important to note the $25 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 raising funding to both short and long term reserve allocations as well as in response to growing labor and utility costs. The master associations are also 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.