The Canyon Lake POA Board of Directors on Tuesday approved increasing the 2023/2024 annual assessment by $15 per month. The current annual assessment is $3,636 ($303 per month). Effective May 1, the annual assessment will increase to 3,816 ($318 per month).
This amount can be paid in full or paid monthly. Members who choose to pay their assessments monthly will pay an installment charge of $5 or $10, depending on the payment method.
The board also approved the Operating Budget as part of the Annual Budget for the fiscal year beginning May 1, 2023. The fiscal impact of the Operating Budget is a net subsidy of $13,782,258.
In addition, the board authorized the expenditure of reserve funds. The budgeted contributions are $2,775,000 to the Repair and Replacement Reserve, $2,019,008 to the Road Reserve, and $500,000 to the Capital Improvement Fund.
