What do my assessments pay for?

The covenants are specific about this. Assessments are used only to promote the recreation, health, safety and welfare of the people who live at Lake of the Pines.

In practice that means keeping up the common properties and the facilities on them, and paying what it costs to run them. The covenants list several things by name:

- The swimming pool
- The dam
- The parks
- Association equipment
- General upkeep of the Lake of the Pines area, and the management and operation of it

The covenants also cover the supporting costs that go with owning shared property. Those include taxes and insurance on the common properties, repairs, replacements and additions to them, and the cost of labor, equipment, materials, management and supervision.

There is one limit worth knowing. The By-Laws say that no funds of the Association may go to the benefit of any private member or individual. Assessment money is for the community as a whole.

If you want to see how the money is actually budgeted and spent in a given year, the Treasurer prepares an annual financial report. It is mailed to every member with the notice of the annual meeting.

*Source: Restrictive Covenants, Article V, Sections 2 and 3.*