How are community dues spent?

 

Our community association manages substantial common property like the extensive greenway/park system and the network of private streets. Kildaire Farms HOA owns 27 private streets in the community and is responsible for the repair and maintenance of each street. All private streets in the community were paved in 2020 at an expense of over $300,000. 

To properly manage community assets, the board undertakes a reserve study every 4-6 years. The reserve study is an outside, independent audit HOA property that identifies the current status of the reserve fund and a stable and equitable funding plan to offset ongoing deterioration, resulting in adequate funds when those anticipated major common area expenditures actually occur.

The Kildaire Farms HOA prides itself in conservative financial management and not burdening its members with additional financial assessments beyond the annual dues.