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The Marina Grande Riviera Beach Board of Directors will conduct the Annual Budget Meeting for adoption of the 2019 Budget on Monday, November 26, 2018 at 6:00pm in the Clubhouse Social Rootn located at 2640 Lake Shore Dr., Riviera Beach, FL 33404.

The Proposed Budget has been carefully reviewed by the Marina Grande Board of Directors and Finance Committee. It has been proposed that there will be a 3% increase in the Maintenance Fees for 2019.

It should be noted that the budget has remained virtually flat for three years 2016-2018.

Please note the following highlights of the proposed budget:

► There is an overall 3% Maintenance Fee increase; however, there is no significant operating expense planned for 2019 as recommended by the Board.
► The proposed 2019 Operating Expense Budget is $3,129,246 plus the Reserve Allocation of $547,380 for a total of $3,676,626.
► The Operating Budget will increase only by $2, 015 year over year.
► The Reserve allocation has increased $116,340 or 27% year over year as per the Reserve Study produced by GAB Robins for 2019. A summary of the Reserve Study is included. This line item is the principal driver of the 3% increase in 2019.
► Our accounting firm has recommended the Association reach a two-month Member's Equity target; however we began 2018 with only about half of that goal. The 2019 projected revenue from maintenance fees, reserves, interest, and miscellaneous income should present an opportunity to move closer to the goal; however it is not expected to reach the $600,000 mark in the coming year. Future budgets should continue to recognize this goal.

Annual Budget Packet >>>