2025 DRAFT BUDGET UNDER REVIEW
BOT ADOPTION EXPECTED NOVEMBER 20TH.
The 2025 draft budget includes an increase of 3.5% for the 2025 fiscal year budget.
In dollars, the increase will be approximately $4.00 per month or $48/year (single-family homes and townhomes) and less for condos and apartments.
The Conservancy (responsible for shuttle bus service and most of the common area west of Gaither Road) budget has not been finalized. However, the Conservancy’s management team indicated there will likely be an increase in the 2025 Conservancy fees. Management will update members when the information is available. The proposed 2025 Draft budget will be available for review later this month via the King Farm website, www. kingfarm.org, in the resident portal (username and password required).
The Budget Committee hosted a meeting via Zoom on TUESDAY, OCTOBER 22ND @ 6:00 PM to review, discuss, and answer any questions about the budget. This meeting was open to the membership to comment on the proposed budget.
General questions can be directed to the General Manager via email at management@kingfarm.org. Questions and comments will be compiled and provided to the Budget & Finance Committee and the Board of Trustees.
The 2025 Draft Budget will be discussed and adopted at the Wednesday, November 20, 2024 Board of Trustees regular meeting.
Changes to the meeting date will be sent via email blast and placed in the Stay Informed section of the website.
2024 APPROVED BUDGET
NO INCREASE
During the November 15, 2023 Board of Trustees Meeting, the 2024 Draft Budget was approved.
Single-Family and Townhome Owners – If you are not on direct debit, please verify that payments are being send to the correct P.O. Box (see below).
Coupon books are mailed to residents who are not signed up for direct-debit. **Residents on direct debit WILL NOT RECEIVE A COUPON BOOK.
Don’t miss a payment. SIGN UP FOR DIRECT DEBIT; it’s free and easy. Debits occur between the 5th and the 10th of the month.
MONTHY PAYMENT ASSESSMENT PAYMENT CHANGES IN PROGRESS
By now, you should be aware that Comsource (the financial management company) is upgrading their technology platforms. We expected the migration to be completed by October 7th, but the transition to the new platform hasn’t gone as expected. Some residents have been able to set up accounts while others have experienced difficulties logging in and setting up accounts. We were told that the goal is to have the issue resolved by the end of the week. We apologize for the inconvenience but appreciate your patience and understanding while this migration takes place.
You will be assigned a new account number. There is also a new account portal and website. PayLease is no longer available.
Coupon books are mailed to single-family and townhome homeowners who are not signed up for direct debit. If you are interested in direct debit or have any other questions, please contact management at 301-987-0122 or e-mail management@kingfarm.org.
Direct Debit – You do not need to do anything if assessments are paid via direct debit through Comsource. You will not receive coupons and the assessment amount will be deducted automatically from the account on file. If you want to enroll or need to change your account information, complete and submit a new direct debit form (included in the budget mailing) to Amber Finnigan at Comsource: afinnigan@comsource.com.
Bill Pay Via Bank – If you pay assessments using a bank or other institution, you will need to confirm the payee information, delivery date (due the 1st and late after the 15th) account number, and payment amount. This is also a great time to confirm and provide updated contact information (off-site mailing address, email address, and phone number) for owners and tenants to the Management Office. To update your information, complete the online form here.
Remit Payments to:
King Farm Citizens Assembly, Inc.
c/o Comsource
P.O. Box 2100
Charlotte, NC 28219-2100
* For more information about payment methods and monthly HOA assessments please visit the HOA Dues & Assessments page: https://kingfarm.org/assessments-faq/.
** for questions regarding your account or assessments, please complete the online accounting form.