Spanish Wells Community Association
Reserves
The SWCA annual budget of estimated revenues and expenses is detailed and shows the amounts budgeted by accounts and expense classifications.
In addition to annual operating expenses, the budget includes reserve accounts for capital expenditures and deferred maintenance. These accounts include, but are not limited to, wall maintenance, roofs, building painting, etc.
Reserve funds and any interest accruing thereon shall remain in the reserve account or accounts, and may be used only for authorized reserve expenditures unless their use for other purposes is approved in advance by a majority vote at a duly called meeting of the association.
The SWCA Reserves are only for SWCA common assets and excludes the golf course.
GOLF & Country Club Reserves are generated from the Golf & Country Club profits.
There is absolutely NO crossover of reserves between SWCA and the Golf and Country Club!
Before clicking on the button below for DwellingLive, you MUST have a DwellingLive User ID and Password. If you don't have an ID and Password, visit the SWCA office in the lower level of the Club House next to the Card Room to obtain one.