following information is required by statute to be made available
to members of the South Creek Seven Homeowners' Association:
- The fiscal year for the South Creek Seven HOA commences on January
- The operating
budget for 2008 is $34, 825
- The Association's current assessments are $525 per
here for the Association's current financial statement as of May
- The Association maintains a Condominium Policy, purchased
from State Farm Insurance, that expires on June 4, 2009. The deductible
The policy includes a $19,000 buildings limit, $1,000,000 business
liability, and $2,000,000 medical.
- The Association also maintains a $1,000,000 Commercial
Umbrella Liability Policy purchased from State Farm, which expires
on June 4, 2009.
- The Association's responsible governance policies can be found in
Article IV, Section (16) (Conflicts of Interest); Article III, Sections
(3)(Notice of Meetings) and (9)(Conduct of Meetings); Article IV, Sections
(3)(Election and Term of Office) and (9)(Regular Meetings); and Article
VIII, Sections (1)(Financial Records), (2)(Inspection of Records) and
(6)(Investment of Reserve Fund) of the Association's Bylaws.