GOVERN: Financial Stability
Our community is very strong financially, with solid balance sheets for each of the governing groups. We carry no debt. As a non-profit corporation, all of our income is used for the community’s operating expenses and long-term needs. Our associations are subject to outside annual financial reviews, and annual financial statements are provided to owners. All the financial reviews for our 20 years of existence have given us clean reports.
MMOA has never found it necessary to levy a special assessment on its owners. Finances are carefully and wisely managed to assure that, barring a catastrophic event, a special assessment will not be required. MMOA dues increases are controlled by the terms of our governing documents. Should a proposed dues increase exceed the mandated threshold, the majority of owners may vote to reject such an increase.