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Financial Management
 
 
 

Budget Process 

 
The Southwind Board of Directors establishes an annual budget and assessment each year in the November board meeting for approval at the owners' annual meeting (held the 2nd Tuesday in December). Initial budget proposals are discussed at the September meeting, so if you would like to be involved with the budgeting process, you should plan on attending both the September and November meetings.
  
Assessments

 
Assessments are due on the 1st of each quarter (January, April, July and October). The Board of Directors can call for a special assessment when necessary. The board is authorized to approve an assessment up to $100; above this limit requires a homeowner vote. These special assessments are due within ten days of notice by the Board.
 
Assessments for CY 2017 are $220 per quarter, including  $40 for the purchase of a Bluewater Bay Golf Course Gold Card. This entitles the resident to one round of golf for free each month, as well as discounts at the clubhouse and Destin restaurants. The Gold Card program is voted on annually by the Board of Directors and is a mandatory part of your quarterly assessment.
 
A late fee of $25 is applied each month that an invoice is not paid; however, the association manger will contact you regarding late payment before any fee is applied. Nonpayment of assessments constitutes a lien on your property.
 
Financial Data 

 
The annual budget for the SPOA is approximately $200,000. Our largest expenses are related to gate security, landscaping of the common areas, maintenance of roads and drainage, and association management.  HOA financial information (balance sheet, profit and loss statement, and accounts receivable) is available from the Association Manager
 
Budgets
 
Quarterly Financials