In April 2010 a Survey Ballot of the Silver Springs Community received a 100% vote from the property owners in the affirmative on Item 5 - “I vote all Boards’ Minutes and Budgets are the property of the property owners, are to be posted promptly, and exhibit fiduciary duty and transparency of all issues.”

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 PLEASE READ TERMS OF USE

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Silver Springs Single Family Homeowners Association Board Budgets are the property of the Association Members. In this manner the Board is held accountable for its actions. The Association Members hold the right of free access, perusal, and use of these documents and chose to do so at the Member website at www.silverspringscommunity.com.

 

BUDGETS INDEX PAGE FOR THE SILVER SPRINGS SINGLE FAMILY HOMEOWNERS ASSOCIATION Bookkeeper: Lyn Cier 2007 SSSF Budgets Page 2008 SSSF Budgets Page 2008  SSSF Year End Budget - (Legal fees on the November 6th Budget totaled $2,936.40. On December 2008 the total had increased to $11,329.66.  An increase of $8,393.26 for replacement meeting costs?  A request was made to the treasurer and bookkeeper for details of this expense. None was received.) 2009 SSSF Budgets Page - (projected Legal Fees are $11,000 for this year. For what? No disclosure.) 2009 SSSF Year End Budget - nearly $6,000 was spent by the board for the underdrain system that was abandoned by the 1985 and 1994 vote of the General Association Members.  A legitimate change in this matter was never pursued. 2010 SSSF Budgets Page - Assessed $462. Includes the March Invoice Letter There are 189 residential lots in SSSFHOA. Only ten of those lots that are on the large lake directly benefit from the assessments for lake repairs and maintenance.

Silver Springs Community - Tennis Courts - Winter 2007-2008 - Maintenance by MHOA dues.
One of the Tennis Courts is titled to Meadow Wild/Meadow Springs yet those subdivisions do not contribute as subdivisions to the repair or maintenance of their court.  The MHOA has been requesting for years that the deed be transferred to the MHOA as was the case in 1989 of the other tennis court which used to belong to the Willowbend Condos HOA.

Pavilion at the Park - Maintenance Paid for by MHOA dues.

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New Utah Law Requires HOA Reserve Study (SB 278)

http://le.utah.gov/~2010/htmdoc/sbillhtm/SB0278.htm

The State Legislature has recently passed a law requiring Community Associations to conduct a Reserve
Study.  below are a few of the main points of the bill:

* All HOA associations must have a Reserve Analysis Study done by July 1, 2012
* The Analysis must be reviewed at least every 2 years and updated no less than every 5 years
* The only requirements to have and administer a Reserve Fund would be found in the HOA CC&Rs
* Reserve funds must be spent on reserve items unless approve by 60% of Association Members
* A Reserve Fund must be established separate from the association’s general operating account

HOMEOWNERS’ ASSOCIATION AMENDMENTS
http://le.utah.gov/~2010/bills/sbillenr/sb0278.htm

2010 General Session of State of Utah Senate

Utah Code Sections Affected:
ENACTS:
57-8-7.5, Utah Code Annotated 1953
57-8a-211, Utah Code Annotated 1953

 

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