Kensington Place HOA

Letter from your Treasurer

Aug 11, 2002

Letter from your Treasurer

As you know, we have been trying to update our new files and get our records completely accurate since we canceled our former management company. This has been a long and painstaking process. It seems that the worst is behind us.

I would like to talk about a couple of items:

2002 Dues were to have been paid by February of this year. We are extending this deadline until August 15th to give everyone a chance to get their dues in without penalty. To date, we have 27 homes (25% of the homes in our neighborhood) that have a delinquent balance amounting to over $4,000. That amount is about 30% of our budget!! I apologize to the people that have received invoices incorrectly and thank you for providing proof of payment. Just 60 days ago we had only the poorly kept records of the management company to guide us. Today we have a software package that will enable us to keep up with our financial picture more clearly.

To everyone who has paid your dues each year?—a heart felt thanks!! To the 27 homeowner that represent the unpaid amounts, please respond to our request for payment or proof of payment. We will begin assessing interest on August 15th. Our By-Laws provide specific actions for the collection of these dues. We hope that it is not necessary to proceed with further actions. It is not appropriate for some neighbors to carry the expense for everyone. Everyone must pay their fair share?—that amount is $125 each year.

If there is anyone in arrears due to an extenuating circumstance and needs additional time or consideration, please contact any board member or communicate with us via the e-mail. We will work with anyone who is trying and all information will be kept in the strictest of confidence.

Remember, this is your community!!!

Ted Pearse

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