Resolution 2012-2: Reserve / Investment Policy

Effective: May 1, 2012.

Resolution 2012-2 supersedes prior resolutions with regard to reserve and investment policy.  A few highlights:

  • The overall financial policy of the Association is to raise assessments annually no more than absolutely necessary to meet ongonig operating expenses, fund reserves for hte future, avoid special assessments, and minimize borrowing.
  • A Reserve Study shall be conducted at least as often as required by the Virginia Condominium Act, and reviewed and updated annually with a review of existing reserve funds, and anticipated reserve expenditures. 
  • Investment of Reserve Funds shall be in low-risk instruments that maximize interest while preserving reserve principal.

Open or Download Resolution 2012-3, Reserve / Investment Policy. [.pdf, 43.3 K]

Condominium Fees

The condominium fees, also known as condominium assessments, are your share of the cost of the common expenses: the repair, replacement, and maintenance of what are known as the "common elements" and payment of common utilities and Talltree South's share of the costs of the swimming pool. The "common elements" include the external grounds and parking lots, and the shared portions of the buildings such as the roofs and hallways. The condominium documents include a complete, legal definition of the common elements. A budget is prepared yearly and is provided to each unit owner.

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Cardinal Management Group