Budget & FinancialsOur HOA budget is carefully designed to reflect the community’s priorities and ensure responsible management of dues and resources. These funds are allocated to maintain common areas, provide essential services, and support ongoing community events and neighborhood improvements that enhance the quality of life for all residents.
To promote transparency and keep homeowners informed, financial reports—including annual budgets and regular updates—are made readily available. This openness helps residents understand how their contributions are used to support and sustain the neighborhood they call home. |
Budgeting ProcessThe HOA’s fiscal year runs from October 1 through September 30. Each year, the board carefully reviews current expenses, future needs, and community priorities to develop a balanced budget.
The budget process includes evaluating maintenance costs, reserve funding, and potential improvements to ensure the financial health of the association. The proposed budget is reviewed and approved by the board prior to the start of each fiscal year, with transparency and responsible stewardship as guiding principles. |
Financial ReviewThe HOA Board conducts monthly financial reviews to monitor income, expenses (planned and unexpected), and account balances, ensuring the association stays on track with its approved budget.
In addition to monthly oversight, the association also undergoes an annual independent financial review. Conducted by a third-party professional, this review provides an objective assessment of the HOA’s financial practices and records, reinforcing accountability and trust with our homeowners. |
The Reserve Study and Fund
A reserve study is a professional assessment that evaluates the condition and expected lifespan of the HOA’s major common-area components—such as roofs, roads, fences, shared facilities, and pools. It estimates how much money the association needs to set aside each year to cover the future repair or replacement of these assets.
Based on the study, the HOA reviews and assesses the reserve fund, which is a dedicated savings account used only for those large, planned expenses. Having a well-funded reserve helps:
Based on the study, the HOA reviews and assesses the reserve fund, which is a dedicated savings account used only for those large, planned expenses. Having a well-funded reserve helps:
- Avoid sudden, unexpected special assessments
- Ensure the community remains safe, functional, and visually appealing
- Protect property values over time
- Support responsible, long-term financial planning
| Reserve Study 2024-25 |
Certificate of Insurance
A Certificate of Insurance (COI) is an official document that provides proof of an HOA’s insurance coverage. It outlines key details such as policy types, coverage limits, effective dates, and the insurance provider. Homeowners, lenders, and property managers often request a COI to verify that the HOA maintains adequate insurance for common areas, liability, property damage, and other risks. It ensures transparency and helps protect everyone involved in the community.
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Special Assessment
Special Assessment Overview
The Rec-Center Special Assessment was established to fund the construction of Oak Hills’ new Community Room, Gymnasium, and Outdoor Swimming Pools. This assessment was levied equally across all lots. Some homeowners have chosen to pay their balance in full, while others are making monthly payments of $49.73. The final monthly payment is scheduled for November 2030.
Key Information for Homeowners
Assessment Follows the Property
Payment Options
Special Assessment Payoff Guidance
The table provided assumes that your lot has made the minimum monthly payment of $49.73 on time since the beginning of the Special Assessment. These figures are for reference only. Please verify your actual balance with Blue Mountain, as prior overpayments, late fees, or other account activity may have affected your current payoff amount.
To Confirm Your Payoff or Balance:
Contact Blue Mountain Community Management at [email protected].
If you make a full payoff, it’s important to notify Blue Mountain so they can correctly process your payment and stop the monthly Special Assessment charges. If they are not notified, the $49.73 monthly charge may continue.
If you’ve already made your payoff and are still seeing charges, please contact Blue Mountain and they will review and update your account accordingly.
How to Use the Payoff Table
You may pay off the full remaining balance of your Special Assessment at any time. The estimated amounts listed in the table assume:
Example:
If paying off in January 2025 and your January payment of $49.73 has already been made, then a payment of $3,056.37 must be received by January 25.
Payment Instructions
Be sure to include your 5-digit account ID (available in Town Square or on your annual bill) with your payment using the format:
[Your 5-digit Account ID] special assessment payoff
Payments may be sent via:
Mailing Address:
Oak Hills HOA
c/o Blue Mountain Community Management
P.O. Box 7152
San Francisco, CA 94120-7152
The Rec-Center Special Assessment was established to fund the construction of Oak Hills’ new Community Room, Gymnasium, and Outdoor Swimming Pools. This assessment was levied equally across all lots. Some homeowners have chosen to pay their balance in full, while others are making monthly payments of $49.73. The final monthly payment is scheduled for November 2030.
Key Information for Homeowners
Assessment Follows the Property
- Any balance due can transfer to a new owner during a sale unless resolved at closing.
- You may inherit a balance if purchasing a property with an unpaid assessment.
- You are responsible for monitoring the status of your special assessment.
Payment Options
- Monthly payments of $49.73 continue through November 2030.
- Lump sum or annual payments are accepted at any time. Any overpayment is held as a credit and applied toward your monthly installments until depleted.
- The only way to avoid the 4.5% finance charge on the assessment is by paying the full remaining balance in one lump sum*.
Special Assessment Payoff Guidance
The table provided assumes that your lot has made the minimum monthly payment of $49.73 on time since the beginning of the Special Assessment. These figures are for reference only. Please verify your actual balance with Blue Mountain, as prior overpayments, late fees, or other account activity may have affected your current payoff amount.
To Confirm Your Payoff or Balance:
Contact Blue Mountain Community Management at [email protected].
If you make a full payoff, it’s important to notify Blue Mountain so they can correctly process your payment and stop the monthly Special Assessment charges. If they are not notified, the $49.73 monthly charge may continue.
If you’ve already made your payoff and are still seeing charges, please contact Blue Mountain and they will review and update your account accordingly.
How to Use the Payoff Table
You may pay off the full remaining balance of your Special Assessment at any time. The estimated amounts listed in the table assume:
- You have already paid your $49.73 payment due on the 1st of the selected month.
- Your payoff payment is received by Blue Mountain by the 25th of that same month.
Example:
If paying off in January 2025 and your January payment of $49.73 has already been made, then a payment of $3,056.37 must be received by January 25.
Payment Instructions
Be sure to include your 5-digit account ID (available in Town Square or on your annual bill) with your payment using the format:
[Your 5-digit Account ID] special assessment payoff
Payments may be sent via:
- Check
- Online bank bill pay (fees may apply)
- Town Square payment portal (fees apply)
Mailing Address:
Oak Hills HOA
c/o Blue Mountain Community Management
P.O. Box 7152
San Francisco, CA 94120-7152
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Fiduciary Responsibility
HOA Board members are entrusted with both a fiduciary and ethical duty to serve the best interests of the community. This includes responsibly managing association funds, making informed and impartial decisions, and acting with integrity, transparency, and fairness. Board members are legally accountable for upholding the community’s governing documents and are expected to avoid conflicts of interest while promoting the long-term health and harmony of the neighborhood. Fulfilling this responsibility is essential to maintaining homeowner trust and ensuring sound governance.