In an ongoing effort to be transparent with our finances, please find attached two documents: 2022 approved budget/to-date spending with 2023 proposed budget, and budget category explanations of each line item with some context. The budget category explanations will also be posted to the Hayden Lakes website and Sterling portal for future reference.

Below are large changes in the budget from previous years.

  1. Assessments: By increasing assessments from $935 to $1,000 for 668 homes, the operating budget increases by $43,420. The budget cannot be balanced otherwise.
  2. Operating Transfer to Reserve: As the cost of everything increases, the Association needs to save for repairs. The pool refurbishing, for example, was over $80,000 and will no doubt be more in 10-15 years when it needs to be completed again. Only saving $10,000 per year would mean that the reserve savings would fund this project alone, leaving no extra for any other necessary repairs. For this reason, the decision was made to increase savings from $10,000 to $15,000 yearly. 
  3. Insurance: Our insurance policies run from May to May, so we don’t have an exact figure for 2023. The agent has advised us to plan for a 5% increase. Note: When we shopped around for insurance this past spring, we were limited to our current company who would offer us policies due to the liability of our bounce house.
  4. Landscaping: The contract with IMS is more than we paid the previous vendor but is actually close to the annual cost back in 2019 before we switched vendors. The compliments have increased, and complaints decreased; we are happy to see residents more satisfied with landscaping. We continue to complete landscaping improvements and repairs, including projects in the planning phase to replant in front and behind the pool pavilion, the Enclave, and the main entrance median and roundabout. Irrigation repairs are increased as the system ages and the parts naturally begin needing replacing. Taking care of the irrigation system is the easiest way to take care of the turf.
  5. Administrative Management: The contract with Sterling only increased 3% for 2023. This is an area where we have budgeted less for copies and printing, postage, misc office expenses, and meeting expenses. Most of the printing and postage is incurred during monthly property inspections and letters for ARC decisions. The Board has intentionally tried to reduce the number of inspection letters, but we must still be reasonable and ensure all residents maintain their properties to maintain values for all neighbors.
  6. Pool/Pavilion: The pool contract has increased mostly due to the increase in wages that American Pools anticipates having to pay lifeguards. The pool is one of the areas that will offer additional benefits to residents. It will be open from spring break to Halloween for SAYOR hours. Lifeguards will be present from school letting out in May until going back to class in August. We are also switching our internet to a new provider so that Wi-Fi is available for residents who would like to work outside of their house or need connectivity while at the pool.

A few related notes:

  1. Maximum Dues Increase: Under the Declaration of Covenants, Conditions, and Restrictions for Hayden Lakes Article XIV.C.5, the Board May increase the annual assessment up to 10% without a vote by the majority of members. If the Board continues with the current $935 dues and finds the Association in a financial bind for 2023 or 2024, the dues may have to be increased above 10% requiring a special meeting and vote.
  2. The Cost of Inflation: The last dues increase was in the fall of 2018 for the 2019 budget while the Board was still under the control of the developer. At this time, the $850 yearly assessment was raised the maximum 10% to $935. Over the last 4 years, the annual inflation rate has been 1.8% in 2019, 1.2% in 2020, 4.7% in 2021, and currently 8.2% for 2022. Our $935 dues in 2019 factored for yearly inflation would be $1,091. The cost of the landscaping, pool maintenance and lifeguarding, lake maintenance, insurance, and to a lesser degree, management contracts have been increasing yearly. For the proposed 2023 budget, the Board has used a 7% increase in the annual assessment from $935 to $1,000 starting 1/1/2023.
  3. How to Improve: There are a few ways to ensure our finances stay balanced for future years. If you are an electrician, plumber, or handyman and are willing to volunteer some time, the Repair and Maintenance committee is interested. There are only a few people with limited ability who volunteer in that capacity now. Likewise, the Board and all other committees are made up of volunteers. Information on Board openings has been posted, and solicitation of candidate mailouts will be sent soon. Please consider giving some time to the community if able.

Thank you for taking the time to review the budget and provide feedback. One of the most important responsibilities of the Board is to ensure resident property values are maintained. To be successful, the community appearance and facilities must be maintained. It is a balancing act to find the right combination of appearance and cost savings, and the Board feels confident that this budget is best for the community. The Board will hold an open meeting to approve the budget. Please submit all questions to We will take all questions at the meeting, but submitting early questions allows us to batch the more common questions and gives an opportunity to research more complex ones.