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The FY 2006 budget, effective on May 1, 2005 through
April 30, 2006, is the second portion of CA’s
first two-year budget. This year’s budget
included only the revisions to the conditional FY
2006 budget that was originally approved last year
by the Columbia Association Board of Directors.
For more details
FY06 Budget Summary
A copy of the budget is available at CA recreation
facilities, CA Headquarters, at the village community
centers and the public libraries. For more information,
please contact CA Headquarters at (410) 715-3000.
In FY 06 CA’s Board of Directors continued
its effort to help Columbia’s homeowners that
have experienced escalating home values and accompanying
increases in their annual charge by lowering the cap
on any increases in the annual charge to 5%. The annual
charge will continue to be calculated at 68 cents per
$100 of assessed home value. $900,000 in projected
revenue was cut from the FY 06 budget in order to accommodate
the reduction in the cap.
Siddiqui stressed that, “When one looks at
the budget figures, although CA is projected to end
FY 2006 with $2.8 million of revenue in excess of expenses,
it’s important to understand that there will
still be a cash flow shortage of $ 6.2 million dollars,
which will need to be borrowed through a line of credit.”
A
large percentage of the capital budget is directed
at community improvements and reinvestment in existing
facilities, including:
- Improvements to the Supreme Sports Club, and Athletic
Club
- Water quality planning and permitting for Jackson
Pond in the Village of Long Reach
- Stabilization of the Woodlawn Slave Quarters Structure,
a piece of Howard County history
- Feasibility study for the installation of a catch
basin at the inlet end of Wilde Lake
- Supplemental funds for ballroom renovations at
Kahler Hall in the Village of Harper’s Choice
- Planning funds for a feasibility study for infrastructure
and aesthetic improvements to the Other Barn in the
Village of Oakland Mills
- Planning funds for life cycle study of the Owen
Brown Community Center
Operating Budget Highlights
- The operating budget includes a threshold increase
over FY 05 approved operating expenses of approximately
2.5%.
- Some operating budget highlights or changes compared
to the threshold include:
- An increase in funding to the community associations
to offset a sharp increase in workers compensation
insurance costs in Columbia’s villages
- An increase in advertising-related expenses, due
to increased marketing efforts.
- A decrease in the rates for Outdoor Pool Limited
admission fees to $4 for adults - $3 for children.
- An increase in all weekend and some weekday greens
fees at the golf clubs
- Full year funding of the Columbia Matters TV show.
- Continuation of the Second Sunday Swims at the
Outdoor Pools.
- Funding of the Neighborhood Ride program in furtherance
of the Board’s Strategic Initiative to better serve
an aging community.
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