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LARMAC approves '19-'20 fiscal year budgets and monthly assessment rates

Each year the association’s volunteer Board of Directors performs a very careful review of the past year’s expenses and income to best project the amount to collect from each member in the upcoming fiscal year. When reviewing the budget, the Board considers several factors such as recurring contract costs, inflation, utility usage and rates, insurance, and appropriate reserve contributions (savings) each month to pay for repair, restoration and/or replacement of common area components as needed.

As you may be aware, minimum wage rates continue to rise. A 9.09% minimum wage increase went into effect on January 1, 2019, and on January 1, 2020 an increase of 8.33% will be implemented.  These increases impact the LARMAC 2019 – 2020 fiscal year budget, as rising costs are being passed through to LARMAC.     

The 2019 - 2020 fiscal year budgets and monthly assessment rates, which goes into effect on June 1, 2019, have been approved and published by your Board of Directors. If you are setup on auto pay through your bank, please update to ensure the proper amount is debited from your  account each month. If you are setup  on auto pay through the FirstService Residential portal, your payment will update automatically. Please click here to review your respective budget packet.  If you are unsure as to which budget packet applies to you, please contact the Avendale office at (949) 218-0900 or by email at for assistance.   

While the full budget packets contain a great deal of information on how the association's budgets work, many owners are often still left asking "where does my monthly assessment money go?". Below you will find a pie chart for each budget area that shows, in broad categories, where your assessment dollars go each month.

Please contact our General Manager, Ken Gibson at 949-218-0900 or via e-mail at or Assistant General Manager, Andrew Comeau at 949-218-3216 or via email at should you have any questions.