CA approves $35.9 million '96 statement Homeowners group also borrowed $1.28 million

June 28, 1996|By Dan Morse | Dan Morse,SUN STAFF

A typical Columbia family pays up to $1,000 a year to the planned community's huge homeowners association -- the Columbia Association.

Last night, CA's governing body approved a fiscal 1996 operating statement on how that money was spent.

CA, one of the largest homeowners associations in the nation, had $35.9 million in revenue -- collected through liens on Columbia property owners and fees for its recreational facilities, according to the operating statement.

For a Columbia resident living in a $275,000 home, for example, that amounts to roughly a $1,000 lien. It also would cost about $550 to buy a "Package Plan" family membership to CA's recreation facilities.

CA spent $32.8 million on day-to-day operating expenses, using the remaining $3.14 million for capital projects, said Rafia Siddiqui, vice president of administrative services for CA.

In addition to operating recreational programs, CA also manages Columbia's popular and vast tracks of open space, parks and walking paths.

CA borrowed an additional $1.28 million for capital projects, Siddiqui said. Its total debt as of April 30 -- the end of fiscal 1996 -- stood at $88.4 million, CA said.

In accounting terms, CA officials also classify the $3.14 million as part of its "deficit reduction" program, which CA officials often cite as an example of financial prudence.

Under the program, CA in accounting terms addresses all the previous years that it had to borrow money for day-to-day expenses. That total operating deficit, once as high as $27.6 million, now stands at $12.4 million, according to CA figures.

But the actual debt -- a real cash amount -- is continuing to rise as the association keeps borrowing money for construction projects. CA officials project the debt will begin going down in two years as the last of its nine villages -- River Hill -- is constructed.

Also last night, CA's governing body -- called the Columbia Council and made up of 10 elected Columbia residents -- indicated it will make more of an effort to draw senior citizens to CA's athletic facilities.

CA offers a 15 percent discount for seniors, but only 3 percent of those offered it accepted the plan last year.

The council also re-elected CA's officers. They are:

Padraic M. Kennedy, president.

Maggie J. Brown, vice president, community services.

Robert F. Goldman, vice president, membership services.

Joan Lovelace, assistant secretary.

Pamela J. Mack, vice president, community relations.

Jeanette L. Pfotenhauer, legal counsel.

Frederick M. Pryor, vice president, open space management.

Rafia P. Siddiqui, vice president, administrative services.

Pub Date: 6/28/96

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