The Board's answers to resident questions about operating costs, reserve projects and financial planning.
Phone lines are required for the emergency phone at the beach and for the fitness center. We have no fax expenses. The name of this line item hasn’t been updated in over a decade.
This is the cost of emptying the port-a-potty at the beach and removing bulk items left on HOA grounds.
The rent increases every three years on May 1. In 2026, we paid 4 months at the old rate and will pay 8 months at the new rate. 2027 is entirely at the new rate.
Two line items related to trees were combined into this single line item to reduce complexity.
There are residents who have not agreed to receive communications by email or do not have internet access. We also increase the reach of our messages by using multiple media, even among residents who have opted in to email.
This line item is for editing the newsletter to ensure everything fits, desktop publishing of the document, and ensuring it’s sent to the printer in the correct format.
In a word, no. Prairie Crossing is a large and complex homeowners association due to our large footprint and complex prairie and lake system. The board conducted an extensive search for a property management company in 2023. The current company was chosen based on a combination of being able to meet our unique needs while also being one of the most economical options.
The cost of storage has increased significantly. The projected 2026 amount is well over what was budgeted for in 2026. The board is exploring options to reduce and consolidate records storage to eliminate this cost in future budgets.
Reserve funding level is based on guidance from a professional reserve study the HOA commissions every 5 years. The next reserve study will be conducted in 2027 to update guidance and reserve funding recommendations, and provide fresh input to the 5-year budget plan. This new reserve study will be informed by PC-specific information from our Land Management and Lake Management reports, the comprehensive playground inspection, a Village Green tree audit, and other identified inputs.
The cost to replace playgrounds is taken from estimates in the reserve study.
Our Environmental Manager, in coordination with the ESC, has identified areas in the prairie that are overrun by invasive species that are beyond what can be removed by volunteer work and the regular maintenance of the Environmental Manager. This reserve expenditure will restore the identified areas to a manageable state going forward.
Reserves currently earn an average of approximately 4% on a ladder of CDs. US Treasuries have been considered and would yield a similar rate of return. Any other investment that might have a higher rate of return would involve taking on unacceptable risk of loss. Operating accounts need to be in a non-interest-bearing business account that allows for frequent transactions.
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