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]

Late Payment

Any condominium fees (assessments), special assessments, or other charges which are not received by the Managing Agent by the 10th of the month are considered late and interest and fees are automatically added to the amount due.

After two or more returned checks, the Board of Directors may require all future payments to be made by certified check or money order for the remainder of the year. A fee will be assessed for every returned check.

The Board of Directors may suspend an owner's right to use services and facilities, including pool and parking facilities, if an account is past due.

Our Staff

Kelly Dillon
Kelly Dillon
Talltree South
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Steve RugenSteve Rugen
Cardinal Management Group