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Westchase board approves 2025 budget; annual assessment set at $421
Summary
The Westchase Community Association Board approved the 2025 budget Nov. 14, setting the annual assessment at $421 and a $2,500 capital contribution fee; the board also authorized short-term investments and added a $2,000 video-recording line item.
The Westchase Community Association Board of Directors approved its 2025 budget at a Nov. 14 meeting, setting the annual homeowner assessment at $421 and maintaining the capital contribution fee at $2,500. The motion to approve the budget was made by Treasurer Terry Boyd and carried 7-0.
The board also approved several finance-related items tied to the budget. By motion of Terry Boyd (seconded by Jessica Siddle), directors authorized investing $1,000,000 of reserve funds and $500,000 of operating funds with Alliance Bank as CDARs, with remaining reserves placed in money market accounts and remaining operating funds in ICS accounts for liquidity; the initial investment term was set at six months. That motion carried 7-0.
Separately, the board approved reallocating $55,600 previously reserved for CW parking lighting/poles (items belonging to TECO) to five reserve projects: $12,194 to CW bathroom renovations; $8,900 to West Park Village (WPV) bathroom renovations; $9,000 to CW tennis lighting replacement; $13,196 to WPV tennis lighting replacement; and $12,310 to WPV office parking lot resurfacing. The reallocation motion was made by Terry Boyd, seconded by Jessica Siddle, and carried 7-0.
The board added $2,000 to the 2025 budget for a meeting video-recording system after a motion by Theresa Lanzar; that motion passed 6-1. The minutes list the approved line item and indicate the board recorded the change into the budget.
The budget vote concludes the board’s scheduled financial actions for 2025; the board also authorized committee reappointments and other operational items during the same meeting. The budget and the specified investments are effective for fiscal year 2025, and the board set investment length initially at six months.
