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Oregon Shores board schedules March 19 executive session to consider raising assessments
Summary
After the treasurer reported the General Account is short, the Oregon Shores board agreed to hold an executive session March 19 to consider increasing homeowner assessments to meet future expenses.
The Oregon Shores Beach Club, Inc. board agreed to meet in an executive session March 19 to further consider raising assessments after Secretary/Treasurer Judy Mangrum reported the General Account lacks funds to cover all obligations.
Mangrum told the board there was not enough money in the General Account and asked which bills should be paid until assessment revenues arrive. The board agreed to defer the attorney's fee and to prioritize necessary payments, then set the March 19 executive session to examine options for increasing assessments and balancing the budget.
The scheduled executive session follows a broader discussion of future expenses and ways to ensure the association can pay for ongoing operations. The board did not adopt a rate increase at the March 12 meeting; the Executive session is intended for detailed deliberation and next steps.
