Policy Number 009.03

Zapata Homeowners Association

Policy Number 009.03 

Policy Topic:  Dues Assessment and Collection   Committee:  Fees and Budget 

Effective Date:  March 18, 2011     New Revised  X 

Policy: 

• The annual due date for dues receipt is April 30.
• Dues statements will be sent out annually in early January. Dues statements will be re-sent to those homeowners who have not paid by April 1.
• Members will have until the April board meeting to present any hardship case and make arrangements for alternative payment schedule.
• For dues not paid by April 30, and for which alternative payment arrangements with board approval have not been made, the Administrator will file a lien at the Alamosa County Clerk’s Office by May 10 for the amount of the outstanding dues plus $ $125 against each lot with dues outstanding. The homeowner will then be sent a new statement with the added late fees of $125 per lot which represents a late fee ($100) plus a lien filing fee ($25).  The late/filing fee is a one time charge filed in the first year an account becomes delinquent.
• If full payment has not been received by June 30, the outstanding balance shall be sent to a collection agency.  The collection agency shall add its fee to the outstanding balance.
• If by September 30 full payment has not been received, or a payment plan has not been negotiated through the collection agency, the collection agency shall be instructed to contact the credit bureaus with the delinquent account information.
• When a homeowner pays all outstanding dues and fees, the Administrator will have the lien removed at the Alamosa County Clerk’s Office.
• No write-off of homeowner amounts due will be posted without Board approval, whether for current or past dues.
• The Administrator will prepare a monthly accounts receivable aging report and a reconciliation of the outstanding accounts receivable balance and send them to the Treasurer for review.
• The current rates for homeowner dues are $X annually for all lots, except $2X for those lots greater than three acres that have been combined from two or more lots into one lot since January 1, 2001. X is based upon the annual line item budget as approved by the board annually.

Board Approved:  March 18, 2011 

Board Chairman:  Jack Zeman 

            _______________________________

     (signature) 

Membership Notified Date:  March 18, 2011by Board Meeting Minutes and website posting   

Board Rescinded Date: 

Board Chairman:  _____________________________

                  (printed name) 

                _____________________________

                  (signature) 

Membership Notified Date:   by