A Proposal to the Board of Oak Creek Parkway

A Proposal to the Board of Oak Creek Parkway

From Members of the HOA

April, 2016

The purpose of this document is to state, in writing, the financial proposal that has been brought
up in the Board of Directors meetings by members of the HOA. Stated below are the facts
associated with this proposal.
1. Some of the OCP roads are in serious need of repair, yet several years of discussion
have yielded no plans to do these repairs without incurring more debt.
2. OCP has an existing Mortgage of $81,000.@ 5.5 Yo,for the OCP clubhouse. The
payments per year are $14,400.
3. With $95,300 in savings, and $26,800 in checking, we could pay off the mortgage,
leaving $41,000 for operating funds.
4. The HOA has no earthquake or catastrophic insurance on the well or sewer.
The proposal is to pay off our debt if it is feasible.
Dan Davis reports the following:
Average yearly income from HOA Fees (3 yrs) $118.013.
Average yearly expenses (3 yrs) S 92.877.
Average net income per year after expenses $ 25,130
Yearly expense saved after Mortgage is paid $ 14.400
Possible savings per year for roads $ 39,530
This proposal is contingent on having no major breakdowns in the well or sewer system over
the next 5-6 years.