Protecting the integrity of your investment. Keeping your community property and common areas beautiful and safe. Planning for the future. Those are the key goals of the Issaquah Highlands Community Association (IHCA) budget.
Homeowners pay monthly dues to the IHCA. The budget, which is set annually, determines how those dues will be utilized for the betterment of our community.
The process begins with the IHCA Finance Committee and staff collaborating to draft a recommendation for the IHCA Board of Directors, a step that is currently underway and takes about two months. To ensure the best decisions are made for homeowners, the committee and staff rely on their collective financial expertise, knowledge of community and legal requirements, and dedication to maintaining community-wide standards.
During this time, committee members review the funds needed for daily operation of the community like electricity, irrigation, grounds upkeep, management, insurance and general maintenance. The committee also reviews the income needed to maintain sufficient reserve funds for repairing and replacing community assets such as playground equipment, drainage infrastructure and irrigation systems.
The IHCA Finance Committee is made up of homeowner volunteers. The IHCA Board of Directors is elected by homeowners and includes representatives from every board district.
Equipped with this data, the committee estimates total expenses for the coming year and compares them to the IHCA’s expected revenue from dues, interest on investments and shared costs. Working with staff, the committee explores ways to lower expenses
or increase operating efficiencies without compromising service.
At the IHCA board meeting on Feb. 24, the finance committee will present its recommended budget for approval. The board will have the opportunity to ask questions and request edits before they vote on it. They must also ensure the annual budget meets all federal, state and county legal requirements for operating a nonprofit association and addresses any future economical and operational challenges.
The board-approved budget will then be published in the April issue of Community Connect magazine for your review. A public ratification meeting will be held on April 28. Per state law and Issaquah Highlands governing documents, the budget will be ratified unless 75% off homeowners (in the community, not just at the meeting) vote to reject it.
As published in the winter 2025 issue of Community Connect magazine >>>
