2016 – 2017 Operating & Replacement Reserve Budget

Post date: Apr 14, 2016 4:8:1 PM

The 2016 – 2017 approved budget together with a breakdown of the monthly & annual portion assessed to each unit was sent out on April 6, 2016. Effective May 1, 2016, the condo fees will increase to $235.00 for the fiscal year May 1, 2016 to April 30, 2017. The increase is to cover increases to Insurance premiums, reserve fund contributions and proceeding with Bylaw review as well as to cover the cost of inflation.

Those Owners currently on pre-authorized payment (PAP), the new fee of $235.00 will be automatically withdrawn effective May 1, 2016. For those who are utilizing cheques, please forward the postdated cheques in the amount of $235.00 from May 1, 2016 to April 1, 2017 payable to Mosaic of Elgin Hill to Montgomery Ross. Please ensure your unit number is clearly marked on each cheque.