Resolution 2012-2: Reserve / Investment Policy

Effective: May 1, 2012.

Resolution 2012-2 supersedes prior resolutions with regard to reserve and investment policy.  A few highlights:

  • The overall financial policy of the Association is to raise assessments annually no more than absolutely necessary to meet ongonig operating expenses, fund reserves for hte future, avoid special assessments, and minimize borrowing.
  • A Reserve Study shall be conducted at least as often as required by the Virginia Condominium Act, and reviewed and updated annually with a review of existing reserve funds, and anticipated reserve expenditures. 
  • Investment of Reserve Funds shall be in low-risk instruments that maximize interest while preserving reserve principal.

Open or Download Resolution 2012-3, Reserve / Investment Policy. [.pdf, 43.3 K]

Keys

The Bylaws require that each owner supply the Association with a working set of keys for emergency access and to perform other necessary duties. The keys are not a lock-out service, however, if you have provided the office with a key, the on-site manager can give you access to your unit during office hours. If your front and rear doors are keyed differently, you may want to provide both keys to the office in case an emergency blocks one door.

Mailbox keys are solely the responsibility of the Unit Owner. Neither the Association nor the Postal Service has a key for your individual mailbox. If your key is lost, the safest recourse is to replace the mailbox lock using the services of a locksmith.

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Cardinal Management Group