Fellow Bluffs on the Potomac Property Owners:
On Saturday, September 9, 2023, the BOTP Property Owners Association meeting was held. At that meeting, the Board presented a budget for 2024 with the per property dues proposed at $613 for the year with a deficit of $20,762.28 ($16,362.28 operating + $4400 capital). The budget also included a substantial increase in road maintenance due to increased traffic within our community and inflation’s impact on heavy construction. In developing this proposed budget, the majority of the Board felt that it was a reasonable compromise allocating the necessary funds to improve and maintain our community. The Board also understood that this compromise meant that it would be necessary to consider an additional dues raise for 2025. To better understand the Board’s rationale for the increased expenditures, please see the following resources if you have not done so already:
Annual Meeting Presentation SlidesAnnual Meeting Minutes Pre-meeting presentationPre-meeting slides As noted in the meeting minutes, once the presentation from the Board was completed there was a call for any motions in advance of a motion to approve the Board recommended budget. A property owner made a motion that was seconded to balance the budget. After discussion amongst meeting attendees, the motion to amend the presented budget to close the deficit by increasing the
annual dues for 2024 to $693.50 was passed by a majority vote. A motion was then made to approve the amended budget for 2024 with the revised annual dues amount. In both votes, the Board chose to cast its votes as well as its proxies for this amended budget. In doing so, the Board believed that it both demonstrated fiscal responsibility as well as mitigated the risk of another significant dues raise for 2025.
Having said that, in the coming years our community will have to grapple with funding capital infrastructure based on the reserve study conducted in 2021. We hope all community members will take the time to read the materials available on our website. Our goal as a Board is to maintain momentum toward community maintenance as more owners create permanent and vacation homes for themselves and their families.
Respectfully,
The Board of The Bluffs on The Potomac Property Owners Association