Stephen Leighton--Vice President
Maureen Dore----Property Manager
CONTACT our Property Manager at: email@example.com
Lexington Lakes office: 772.781.4102
Lexington Lakes FAX: 772.781.3975
The President’s Report--September 1, 2014
Lexington Lakes is a new beautiful gated community of 264 predominately owner occupied units in Stuart, Fl. Anyone who buys in our community is required to live in it for the first 12 months. This rule discourages investor interest. Although costs continue to rise, our monthly maintenance fees have remained fixed over our nine year existance at only $300. These fees pay for : our water, garbage disposal, cable TV, landscaping, insurance, reserves, and security. Also, the Board has never seen the need to impose a special assessment on ownership.
We currently have only four delinquent accounts. Two are in bank foreclosure scheduled for year's end, and the other two are at our attorney for legal action. Our total assets are $ 1,427,703 about $737,843 of which is being held in our Reserves accounts. Currently, we are using our reserve funds to freshly paint all our buildings.
July 2014 - Financial Report: ---The Report shows that our assessment income plus revenues exceeded expenses by $47,045. This will be the seventh consecutive year that your Board has met its operating budget. This surplus will be used to maintain our buildings, roads. and to upgrade our landscaping. We had an outside firm conduct an independent financial audit for the year 2013; this report is available for owners'review via our Property Manager's office. Also, the December 2013 financial report is available on the "owner's only"page which can be accessed from this website.
Jerry J Lavish--President