2027 Budget

Terraces at Mt. Olympus Homeowners Association

Board of Directors · Annual Budget Presentation

Board Approach

Frugal. Line by line.

Every line reviewed. Costs trimmed where possible. Reserves protected.

Line-item review Every category examined by the Board
Trimmed spending Cuts ranging from hundreds to thousands per line
Reserves first Operate lean, save aggressively for capital projects

2027 Total Budget

$355,619

$335,076

2026 Budget

+6.1%

Year-over-year change

+$20,543

Total dollar increase

Reserve Contribution

Returning to full funding

In 2026 we intentionally reduced the Reserve transfer to cover an Operating shortfall. We're restoring it in 2027.

2025 Level

$107k

→

2026 (reduced)

$63,945

→

2027

$107,000

Where The Increase Goes

Reserves up. Operating down.

+$43,055

Reserve transfer

−$22,512

Operating budget

$20,543

Net budget increase

Impact To Owners

Monthly dues increase

~$43

Average increase per unit, per month

6.1%

Applied per owner's ownership %

Individual increases will vary by ownership percentage. Owner-specific amounts to be sent by [date].

2026 vs 2027

Budget breakdown

Budget comparison

Operating Reserves

By category

Category	2026	2027	Change
Administrative	$91,632	$89,919	−$1,713
Landscape and Snow	$96,199	$81,300	−$14,899
Utilities	$42,500	$46,100	+$3,600
Building Maintenance	$28,175	$20,900	−$7,275
Pool and Spa	$12,625	$10,400	−$2,225
Transfer to Reserves	$63,945	$107,000	+$43,055
Total Budget	$335,076	$355,619	+$20,543

Savings across the board

AdministrativeReduced
LandscapingReduced
Building MaintenanceReduced
PoolReduced
UtilitiesSlight increase

1 / 3

2027 Initiatives

What's next

Reserve StudyRenewed in 2027
Painting projectSaving $90k across 2027–2028
Concrete repair planMulti-year effort
Landscaping CommitteeRestructured around project execution
Landscaping projectsRecoded as Reserve expenses

Capital Project

Community painting — Spring 2028

$250k Reserves

$250k Special Assessment

~$500k

Total project estimate

Late 2027

Vendor engagement

Included

Exterior lighting, address numbers

Questions?

Thank you.