Since 2014, the ACC has invested more than $13 million into new recreational amenities in the community, including the Civic Building (2014), Opportunity Way Park (2016), Community Center remodel/expansion (2018), pickleball courts (2018), the dog park (2019), and the expanded/enhanced Skate Park (2021-22). The community is wrapping up 2021 as the eighth year in a row under the current ACC assessment rate, even with the addition of these amenities. The last ACC assessment increase was $6 per month (effective in January 2014), prior to the opening of the Civic Building.
In evaluating the 2019 Operating Fund budget, the ACC Board and staff looked beyond 2019 to forecast revenues and expenditures over five years, in order to anticipate adjustments that may be needed to achieve future balanced budgets. At that time, the ACC’s forecast models indicated that a modest assessment increase would be needed in 2020 or 2021 as a result of cumulative cost pressures associated with multiple years of mandatory minimum wage increases; a projected increase in major service contracts; rising expenses associated with maintaining an aging infrastructure; an increase in annual contributions to the Reserve Fund to account for new amenities; operating costs for these new amenities; and upward trends in utility rates and insurance premiums among other inflationary factors.
Due to the impact of COVID-19 on residents, no increase was implemented in those years. During that time, the ACC lost significant revenue due to the cancellation of special events and programs, yet maintained its bottom line by cutting expenses.
2022 Budget process
Department directors and the finance team begin working on budgets early each summer for the coming fiscal year. After departments propose their budgets to executive leadership for consideration, and any changes are made, working sessions with the Board are held to “drill down” the budgets and address any major requests or anticipated expenses. Budgets are zero-based, which challenges ACC staff to consider current and future needs and challenges. They do not build on past years budgets, but rather start from zero each year, which requires staff to propose and justify each line item in their budget – both from a revenue and expenditure standpoint.
A Board-Staff open working session will be held September 13, 5:30 p.m. (via Zoom); the proposed budget will be presented at the September 22 open Board meeting (with an opportunity for resident feedback); and the final budget will be presented to the Board at its October 27 open meeting. The public is invited to attend these meetings and ask questions. All budget documents, the meetings agendas, and schedules will be posted online, and included in weekly eNews and social media.