Reston Association Assessments Up 7.5 Percent for 2014

In addition to last night's decision regarding a land swap at Lake Anne, the Reston Association Board of Directors passed three budget motions involving the 2014-115 budget, including a $44 increase in member assessment. 

The assessment is set at $634, a 7.5 percent increase over this year. 

In addition, two other budget motions were passed by the board, involving Operating, Repair & Replacement budget and the New Capital Asset budget for fiscal years 2014 and 2015. 

These actions set the planned Revenues, Operating Expenses and Capital Expenditures for each year as follows:

Revenues: 

FY2014: $16,156,368 

FY2015: $16,571,879

Operating Expenses: 

FY2014: $13,713,369 

FY2015: $14,156,879

Capital Expenditures on Existing Capital Assets: 

FY2014: $1,666,679 

FY2015: $2,539,144

New Capital Asset Acquisitions: 

FY2014: $292,916 

FY2015: $386,500

In addition, the board voted 8-1 to fund the proposed 2014 New Capital Asset Expenditures through an “inter-fund transfer” from the Association Repair Replacement & Reserve Fund.

Major projects listed on RA staff's high priority capital expenditures include: lighting of 4,601 feet of pathways in Hunters Woods ($124,916 in 2014) and expanded garden plots at Cedar Ridge ($2,000 in 2014, $43,000 in 2015). 

A complete list of budget documents can be found here.