The ACC has three major funds: the Enhancement Fund, Reserve Fund and Operating Fund.
The Operating Fund is funded through homeowner and commercial assessments and program fee revenues and supports the services and operations provided by the ACC.
The Reserve Fund is the “savings account,” which provides for the repair and replacement of major common assets within the ACC. For 2016, the ACC will contribute $2,170,000 from collected assessments, an increase of $310,000 from the 2015 Budget. As community infrastructure ages, the pressure on the Reserve Fund grows to keep pace with needed repairs and maintenance, a necessary element for community safety, as well as maintaining overall community appeal and property values.
The Enhancement Fund, which was established through the governing documents, is based on ¼-of-1% of the sale price of each resold property. For 2016, the ACC estimates that this fund will generate $507,150. The fund is designated for new recreation projects and amenities that benefit the Anthem community, including proposed amenities as identified within the Anthem Master Plan, such as the completion of Opportunity Way Park.
For more information about the Operating Fund, view the Budget-in-Brief online or pick one up at the ACC Community Center or Anthem Civic Building. All property owners were mailed a copy.