POA: Second assessment election possible

Just before last week's board meeting for the Bella Vista Property Owners Association on Thursday, Sept. 22, the number of members who voted in the current assessment election was 41.8%.

"It looks like we're going to make it," Chief Operating Officer Tom Judson said, referring to the required 50 percent quorum for assessment elections.

He only knows the number of votes cast, not the number in favor of an increase. But, he said, he's optimistic that if quorum is made, the new fees -- $3 for each improved property -- will be approved.

At an earlier work session, Judson had suggested a "Plan B." According to the governing documents, if an election does not have 50% participation, management can immediately call for a second election. As long as the question on the ballot is the same, the second election only requires 25% participation.

Judson explained that if the board waited until the the election is complete on October 4 to authorize a second election, it couldn't be completed before the end of 2022. Annual golf memberships, which will probably go up if assessments don't, are usually paid in December. Also, the budgeting process for the next year always begins in the fall and those decisions would be affected by a change in assessment fees.

He proposed a time line for the second election, just in case the board decides it's necessary. Ballots would go out on Oct. 31 and the vote would close on Dec. 6 with a special meeting at 6 p.m. at Lakepoint Events Center.

If an increase is approved before the first of the year, it would go into effect on March 1 -- exactly three years after the most recent increase.

Board member Jackie Gains emphasized that the second election would only happen if at least 51 percent of the people who voted were in favor of the increase.

The board also voted on several policy issues. Many of the changes were to update and make the governing documents easier to understand. Changes to all the governing documents are available on the POA website, bellavistapoa.com/governance/governing-documents/.

Financial reports are also available on the POA website, although because of a staffing change, a few of the reports will be posted later this month, Judson said.

"Overall, it's just a great year," he said.

In August, revenue and gross profit, were both over budget, but so were expenses. Supply chain issues have presented a challenge, Judson explained.

Year to date, the POA including water is better than budget by $3 million. Food and beverage did very well in 2022, he said. The recreation department also did well.