Bill Barnard
Even though the calendar says that fall has begun, with record-breaking heat and no rainfall it seems we are in a never-ending summer. We are hoping that the fall season shows up soon with cooler temperatures and maybe a little moisture. Not only are we trying to complete many projects before the busier season but we are also in the middle of one of our most important operational tasks, the budgeting process for 2025. The annual budgeting process is a critical and complex activity with many moving parts.
The HOA operating budget is a projection of the funds needed to cover the Association’s operating expenses and provide adequate reserves for the repair and replacement of the many assets the HOA owns and maintains. It serves as a financial roadmap for the upcoming year and drives our maintenance plan, our social activities, capital improvements, pricing, and much more.
The budget process starts at the beginning of August with labor planning and scheduling operations for the upcoming year. We then gather the historical data and information that is necessary to put together our income and expense projections. Finally, we look at projecting the repair or replacement of reserve-funded assets to update our Long Range Plan. Each department Director puts together their portion of the budget and we work closely to produce a comprehensive draft of next year’s budget. It then undergoes a review process with the HOA Board to ensure that it is realistic and aligns with our organizational goals before approval. We will host a homeowner meeting in early November to present a summary of the draft budget prior to final approval by the HOA Board at the November Board Meeting. The date, time, and location of the informational meeting will be posted shortly.
We continue to face many challenges that we must consider when planning the 2025 budget. We are still facing increased costs of utilities, materials, supplies, equipment, and ongoing issues with rising wages to compete in the labor market. Despite these challenges, we are focused on putting together a budget that allows us to maintain PebbleCreek as one of the premier active adult communities in Arizona.
I’m hopeful for an end to the extraordinary summer that we have been facing, and as always, I hope you are living your best life here in PebbleCreek.