FINANCIAL MANAGEMENT

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Budget Process

In September, the Board of Directors meet to draft a proposed budget, which is then sent to the homeowners. This budget determines the corresponding assessment. The homeowners approve the amount of the assessment during the Annual Meeting, which is usually held in November. Homeowners are welcome to attend all Board meetings.

Assessments

Annual assessments are due on the 1st of January. The Board of Directors can call for a special assessment when necessary, which is subject to the approval of 2/3 of the membership. Annual assessments for 2023 are $293. An interest charge of 18% p.a. is applied each month that an invoice is not paid. Nonpayment of assessments may lead to a Claim of Lien being recorded against an owner’s property. 

Payments can be mailed to:

Miller's Run Homeowner’s Association

PO Box 5163

Niceville, FL  32578

Financial Data 

The fiscal year 2023 budget for the MRHOA was $11,193. Our largest expenses are related to landscape maintenance and enhancement of the common areas, maintenance and repair of roads and storm water system, and insurance. MRHOA financial information is available from the Association Board, upon request.