The Somersett Owners Association management held a meeting on October 23rd

to present the 2018 Operating and Reserve Budgets.

Please click HERE to view the presentation.

2 thoughts on “2018 Budget Presentation”

  1. I am not sure what is happening these days – it seems that the MySomersett website has disappeared and we only have one SOA website.

    On looking at the budget – it appears that the Common and Canyon 9 dues will go up $23 a month for all residents. Comprising of elimnation of the 2017 $11/ month abatement and raising the dues by $12 a month (25% allowed by NRS without a vote). Additionally our reserves will be depleted to 34% of calculated funding requirements.

    A comment was made that we will have to raise the ammount paid into the Common &C9 reserves, in case other of the improperly constructed rockery walls require repairs and maintenance. A survey of the potential liability is going to be (is being?) carried out by qualified engineering firm. Does this mean that we ccan expect another $13 a month increase for 2019, to start funding the reserves properly? What calculations have been made to see how long it will take us to restore the reserve funding to say 70%?

  2. The “MySomersett” website has not disappeared. The mysomersett.com domain name now resolves to somersett.net. The web site was parked on the new domain name for technical reasons, but the mysomersett.com url still takes you to the SOA website. The SOA has always had only one website, and this is it. There is another website of interest to homeowners which is operated by FirstService Residential. There is a link to this FSR website on the homepage for somersett.net. The FSR website deals primarily with payments and is kept separate.

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