From The Blog

2024 Assessment Collections Update

At the April 8 board meeting, director of Finance Dale Schoon reported that annual assessment payments are 97% collected. Assessments were billed in January and due Feb. 8, 2024. 167 properties are delinquent in payment, representing approximately $500,000. The members with delinquent accounts are currently receiving courtesy phone calls with a notice of their balance. A 1.5% monthly late fee is in effect. 

KICA will continue the assessment collections process in alignment with the Financial Controls Manual (Chapter 6). If an assessment balance remains unpaid in May, the association’s attorney will mail a courtesy notice informing the member that a property lien will be placed in June if no payment is received. Also in May, member rights may be revoked, such as decal gate access, Sandcastle access and voting rights. In June, KICA will file liens for unpaid accounts. The board of directors will be notified of any liens for review.