Reston Association board of directors decided to postpone a discussion on the 2008/2009 budget proposal from its regular meeting on Thursday night, Sept. 27. Milton Matthews, RA CEO, said a work session on the proposal would be scheduled for the week of Oct. 15.
"The board wants to do additional work," said Matthews. He said an issue that has not been finalized yet in the proposal is an adjustment on assessments. Matthews said that in the 2006/2007 budget the assessments were kept flat at $437. "It will definitely be an increase," he said.
In 2006 the assessments produced almost $9 million, or 80 percent, of the association’s $11.2 million operating income. Under the current budget draft for the next two years, the assessments are projected to contribute $9.47 million in 2008 and $9.73 million in 2009 to the operating income. Both values represent 80 percent of the years’ projected operating income.
Matthews said the board would vote on the budget in November. Public hearings regarding the budget will also be scheduled.