2021 Budget Approved

Layne Varney, General Manager

The process for the 2021 budget has been very challenging with COVID-19 and the effects it has had on the economy and activity. Attempting to guess what’s ahead next week has been a challenge in itself, let alone looking and planning for the future over the next year. The budget process began in April, and has been updated several times due to the projected outlook for next year. No one really knows. A conservative approach is very appropriate, and following the independent financial auditor’s advice seems to be the best pathway. Increasing funding for SunBird’s Emergency Contingency Fund is always a safe practice. SunBird’s goal is to build to at least a three-month balance in this fund.

This year, no one ever saw or predicted a pandemic could affect us the way it has. Fortunately, with the Federal Stimulus Cares Act, SunBird received a forgivable loan for $237,800. This greatly assisted SunBird through some difficult times, and allowed SunBird not to have to use our Emergency Contingency Funds currently saved. Further, SunBird has increased its disease prevention practice by hiring more custodial cleaners for the clubhouse, and sanitizing equipment and disinfectant supplies for residents to use. With these changes, the annual Homeowners Association dues have increased $20—from $1,040 per year ($520 per half) to $1,060 per year ($530 per half). We appreciate the many department managers, Finance Committee, and board of directors, for being actively involved in the process to keep SunBird financially healthy today and in the future.