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BALANCING THE 2008 BUDGET
By Don Backer, Treasurer
 
When the Board of Directors approved the 2008 it was fully our intention to propose to the membership an amendment to the TRMA to increase fees to cover the projected deficit. This action was precluded by the proposal of a settled lawsuit which would address this issue, thus no amendment has been sent to the members at this time. Although it was hoped that the proposed settlement would have been approved by the January 26th meeting that did not turn out to be the case. As we await a final decision from the Court, we are prepared to take one of the following steps to ensure a 2008 balanced budget:
 
  • If the Judge approves the settlement but directs us to get property owner approval, we will send out a ballot for property owners to approve or disapprove the proposed amended TRMA, including the new fee structure of $168 plus $.80 per acre. If approved, this would get us very close to a balance budget, with a shortfall of only $16, 800.
  • If property owners do not approve of the proposed amended TRMA, or if the Judge does not approve the settlement, we must then request a property owner approved assessment increase of $48.26 under the existing TRMA flat fee structure. This would achieve a balance budget and enable us to maintain the current level of services.
  • If neither of the above options are approved, we will be faced with very difficult decisions to cut enough services to eliminate the $159,255 shortfall in our 2008 budget. This will affect services across the board including reducing the amount and type of road maintenance we can provide. We will not know if we need to take this drastic action until we complete the two steps outlined above.
 
 
 
 
 
 
 
 
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Property Owners Association of Terlingua Ranch, Inc.

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