2023 Financial Update

Listed below are current charts showing comparisons over the last 3 years of expenses vs credits for Southwood. There are a couple of things to take into consideration.
1. Insurance checks for the wall have made some of the credits look higher than others but collections from dues are a huge part
2. Due to the number of complaints we received last summer, we had to switch lawn services and now pay more than double what we have been the last two years. We got several quotes and went with the option that was cheapest for both mowing and fertilizer.
3. You may look at the dues chart and think that 39% is still a lot of outstanding dues and we agree! In the last 3 months the $200 section has been cut in half. We are currently getting ready to send out second notices to those who still owe. The Title Company will always email us at the sale of someone’s home to see if they are caught up on dues. If they are not, they will collect them on our behalf at no cost to us.
4. Why did we repaint the clubhouse? The clubhouse is one of the biggest incomes for Southwood and repainting it and getting it fixed up will allow us to discuss raising the rent price to those OUTSIDE of the HOA. Don't worry we have no plans on raising the rent to members in the HOA again.
5. Why is our insurance so much? Why has our insurance gone up? Check out that beautiful brick wall that surrounds Southwood :)
6. The amount for the basketball court is currently the deposit to start the process. The total will change once the project is finished. The remaining balance (pending no issues) is $7,779.20 giving us a grand total of $9,724.00.