Reston Association members will pay a $634 assessment in 2014, a $44 increase from this year, the largest jump in five years.
At its meeting on Thursday, the Reston Association (RA) Board of Directors voted for the increase of 7.5 percent. Assessments had been rising at about 4.5 percent the last several years. The board also approved the proposed Operating, Repair & Replacement budget and New Capital Asset budget for fiscal years 2014 and 2015.
These actions set the planned Revenues, Operating Expenses and Capital Expenditures for the next two years:
Revenues: $16,156,368 $16,571,879
Operating Expenses: $13,713,369 $14,156,879
Capital Expenditures on Existing Capital Assets: $1,666,679 $2,539,144
New Capital Asset Acquisitions: $292,916 $386,500
The board also OKed proposed 2014 New Capital Asset Expenditures of $292,916 (2014) and $386,500 (2015), through an “inter-fund transfer” from the Association Repair Replacement & Reserve Fund. Among the high priority items the money will fund: $124,000 for pathway lighting near Hunters Woods; expanded community gardens at Cedar Ridge ($50,000 over two years); and $160,000 for document management software.
See all budget-related items on RA’s website.
RA assessments have risen rapidly over the last several years, due in part to the need to repair and replace Reston’s aging infrastructure and facilities. Here is a look at assessments since 2000:
RA ASSESSMENTS SINCE 2000
Year Amount % +/-
2001 $375.00 1.35%
2002 $387.00 3.20%
2003 $399.00 3.10%
2004 $415.00 4.01%
2005 $425.00 2.41%
2006 $437.00 2.82%
2007 $437.00 0.00%
2008 $475.00 8.70%
2009 $491.00 3.37%
2010 $515.00 4.89%
2011 $540.00 4.85%
2012 $565.00 4.50%
2013 $590.00 4.50%
2014 $634.00 7.45%
(Source: Reston Association)
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