Funding For Operations and Reserve Fund
Annual Dues Assessment – General Operations
The annual dues assessments for General Operations are based on the Net Acreage for each property (defined as a tax parcel’s Gross Acreage less any Common Area, such as a portion of a lake). The revenue collected from the annual dues covers the general operations for the Innsbrook Corporate Park, which includes the following categories:
- Security (currently administered by Allied Universal Patrol at Innsbrook)
- Property Management Services for shared Common Areas
- Common Area Maintenance (Trail/Bridges/Infra Structure)
- Lake Management and Services
- Landscaping Management and Services for shared Common Areas
- Innsbrook Foundation (Brand Ambassador, Programs, Events, Marketing)
- Insurance (General Liability/D&O)
- Utilities for shared Common Areas (Electric/Water)
- Administration (Accounting/Bank fees/Licenses/Legal/Consulting)
Annual Dues Assessment – Reserve Fund for Capital Improvements
The annual dues assessments for Reserve Fund for Capital Improvements are also based on the Net Acreage for each property (defined as a tax parcel’s Gross Acreage less any Common Area, such as a portion of a lake). The Reserve Fund was strategically established and adopted by the Board of Directors in order to proactively address ongoing capital improvement needs benefiting all constituents of the Innsbrook Corporate Center.
The Board of Directors establishes a rolling a Five-Year Capital Improvement Plan to proactively address items such as:
- Trail Renovations and Improvements
- Bridge and Decking Improvements
- Dredging of Lakes
- Stormwater Management
- Monument Signage
- Innsbrook After Hours Music Venue
Annual Dues Assessment Methodology (for both Operating and Capital Improvements)
Each December during the Annual Meeting, the Board of Directors recommends an annual operating budget for the upcoming Fiscal Year to cover Operations and Capital Improvements. The Property Owners vote at the Annual Meeting to approve the proposed budget.
For reference, the approved annual dues assessments for 2020 are as follows:
Operation Fund: $1,254 per Net Acre
Reserve Fund: $330 per Net Acre
During the annual budget process, which starts in September of each year, the Board of Directors may recommend a dues increase for the upcoming Fiscal Year in order to appropriately accommodate any increases in general operating costs.
- The historical annual increase for dues assessments for general operations is usually between 0 – 1%.
- The historical annual increase for dues assessments for the reserve fund for capital improvements
is between 0 – 3%.
Annual Fiscal Year Budget
Coming in 2021
Annual Capital Improvement Plan
Coming in 2021