2026 Proposed Budget and Supplemental Assessment Notice

Dear Homeowners,

Below, please find the proposed 2026 budget, which includes a $350.00 supplemental assessment due no later than December 31, 2026.  Please take time to carefully read the attached supplement assessment notice, particularly those who are enrolled in autopay.  The notice includes important information regarding the supplemental assessment and frequently asked questions.

State law requires homeowners be provided a copy of the proposed budget before Board approval.  This notice gives homeowners the opportunity to review the proposed budget and submit questions or comments before the meeting.  

The Association’s Capital Reserve Study (see link below) was completed in 2025 and identified a recommended reserve balance of $1,070,072.  At the time of the study, the reserve account balance was $738,498.  As of May 31, 2026, the reserve account balance was $732,817.93.

The Board identified a reserve funding shortfall of approximately $213,605 for 2026.  The proposed 2026 budget increases reserve funding to $248,850 in an effort to address reserve funding needs and improve compliance with Maryland reserve funding requirements.

To address the reserve funding shortfall, the Board is proposing a one-time supplemental assessment of $350.00 per lot.  Additional details, including the proposed amount, purpose, and frequently asked questions, are included in the Supplemental Assessment Notice to Homeowners.

We encourage all owners to carefully review the enclosed materials and submit your questions and/or comments via e-mail to Mark Hoage, Community Association Manager at mhoage@sentrymgt.com.

Thank you in advance for your attention.  

Sincerely,

Board of Directors
Summit Creek Community Association, Inc.