The Edgewood Information Archive

May 01, 2026

Archive image of the 2026–2027 Edgewood Homeowners Association Annual Budget Report and Disclosure Package, distributed to association members in connection with the fiscal year ending May 31, 2027. The packet includes the annual budget, reserve disclosure materials, insurance summary, policy statements, assessment collection information, and related homeowner disclosure documents.

The disclosure package is notable because it reflects another significant dues increase, with the regular monthly assessment listed at $500 per ownership interest. The stated reasons for the increase include insurance, administration, landscaping, and utilities. The budget also includes a substantial annual reserve contribution of approximately $305,132, or about $25,428 per month.

The 2026–2027 packet also states that the Board does not anticipate a special assessment for the fiscal year. This is significant when compared with earlier reserve disclosures preserved elsewhere in the Edgewood archive. Prior reserve funding materials modeled substantial owner assessment assumptions, including approximately $4,167 per ownership interest in the earlier 2023/2024 reserve study cycle and later references to approximately $1,389 per ownership interest over multiple years in subsequent reserve disclosures.

Community advocates have questioned how the Association moved from reserve models that depended on large assumed owner assessments to a later disclosure stating that no special assessment is anticipated. Those earlier assumed assessments were never billed, never collected, never approved by a membership vote, and never clearly presented to homeowners as actual pending obligations. This raises a serious transparency concern: the Association’s prior reserve projections appeared to rely on money that did not exist, while the later budget now relies on higher monthly dues, large reserve contributions, and deferred repairs on several major repair and replacement projects, instead.

The packet identifies several deferred reserve components, including asphalt roadway work, roof repairs and replacement, pool resurfacing and equipment work, and clubhouse-related items such as roofing, HVAC, and flooring. These deferrals are important because they show that the Association’s financial planning continues to rely not only on increased regular assessments, but also on postponing major capital work.

While the 2026–2027 disclosure states that the Association has no outstanding loans, this should not be confused with being debt-free in any practical sense. The Association still appears to carry substantial unfunded repair obligations, deferred maintenance, and reserve shortfalls. These obligations may not appear as bank debt, but they represent real financial liabilities that homeowners will eventually have to pay through higher dues, delayed repairs, special assessments, or further deterioration of the property.

This document is preserved because it provides important historical context for the Association’s changing financial narrative: prior assumptions of large special assessments, later claims that no special assessment is anticipated, continued dues increases, substantial reserve contributions, and ongoing deferral of major repairs.