Units
154
Where the money goes
The budget shows what deferred maintenance costs everyone.
This page translates Star Point's annual disclosure, approved budget, reserve study, balance sheet, wall-project records, and management contracts into plain-language financial analysis — every figure traceable to a source document.
Derived values are computed
Percentages and per-unit amounts are calculated from typed source figures in the app data — not hand-entered.
Incoming · 2026–2027 budget
The new operating budget is a line item on the association's June 2026 meeting agenda. The moment it is released, every figure on this page will be re-derived from it and any dues increase, reserve change, or new debt flagged here for residents first.
Assessments
$546,054
Dues
$237-$413/mo
Mgmt + admin
$46,504
Insurance
$170,000
Wall loan
$539,940.11
Reserves
8% funded
Dashboard
The numbers residents should know
An interactive read of the verdict, the key facts, what a special assessment would cost, where each dollar goes, and how 2025 unfolded month by month.
Analysis verdict
Operating budget:BalancedReserves:UnderfundedSpecial assessment:Elevated riskDues increases:Likely
Annual dues
$546K
154 units, $237.29-$413.01/mo
ACCU management / yr
$29,580
+10% YoY
Insurance / yr
$170,000
35% of budget
Retaining-wall loan
$539,940
6.78%, to 2034
Emergency change order
$83,200
Wall Change Order #1 (emergency)
Reserves funded (2020)
8%
2020 reserve study
Delinquent dues
$46,401
Accounts receivable, Dec 2025
Book equity
-$58,469
Negative on the Dec 2025 balance sheet
Special-assessment estimator
What would a special assessment cost me?
Move the slider to a possible next major repair cost. The cost is split evenly across 154 units.
One-time per unit
$3,506
Spread over 12 months
$292/mo
Reserve gap
Reserves vs. a fully-funded target
Current reserves$183,783
Fully-funded target$1,025,411
Current reserves are about 18% of the fully-funded target. The 2020 reserve study measured the association 8% funded, and the target grows over time as the property ages.
Where each dollar goes
2025-26 approved budget ($488,054)
- Insurance$170,000 · 35%
- Wall loan principal$84,000 · 17%
- Utilities$78,750 · 16%
- Exterior maintenance$60,750 · 12%
- Building maintenance$48,050 · 10%
- Administration (incl. ACCU mgmt)$46,504 · 10%
About 52% of the budget is now insurance plus the wall loan — insurance alone is the largest single line.
Multi-year trend
What has moved the budget
Annual dues
Up ~30% in FY24-25, then flat.
2023-24$420K
2024-25$546K
2025-26$546K
Insurance
Peaked near $194K, set at $170K for 2025-26.
2023-24$167K
2024-25$194K
2025-26$170K
ACCU management
Up about 10% per year.
2023-24$24K
2024-25$27K
2025-26$30K
2025 by month
Reserves rose all year; equity fell off a cliff in Q4
When the wall loan and its expense landed in Q4, total equity dropped and went negative — even though reserves kept climbing. The deficit is the wall debt, not day-to-day overspending.
ReservesWall-loan fund (from Sep)Total equity
View the underlying monthly data
| Month | Reserves | Wall fund | Total equity |
|---|---|---|---|
| Jan | $100,694 | — | $208,615 |
| Feb | $104,435 | — | $236,547 |
| Mar | $150,184 | — | $218,977 |
| Apr | $153,931 | — | $245,556 |
| May | $157,680 | — | $270,227 |
| Jun | $161,429 | — | $290,145 |
| Jul | $165,179 | — | $316,133 |
| Aug | $168,929 | — | $331,471 |
| Sep | $172,680 | $549,557 | $337,238 |
| Oct | $176,429 | $399,366 | $186,195 |
| Nov | $180,179 | $316,236 | $93,028 |
| Dec | $183,783 | $199,183 | -$58,469 |
Source: content/financials/balance-sheet-2025-01..12.md
The bottom line
Why a dues increase is likely — and why special-assessment risk is elevated
Four documented forces point the same direction. None of them is an opinion about people; each traces to the budget, the reserve study, the balance sheet, or the meeting record.
1
Reserves are nearly empty
8% funded (2020) · about 18% of target today
The 2020 reserve study measured the association 8% funded — $79,067 saved against a $1,025,411fully-funded target. The study itself defines anything below 30% as "poorly funded" and warns that a low percent-funded "increases the likelihood of a special assessment." Even after growth, December 2025 reserves ($183,783) cover only about 18% of that target — a gap of roughly $5,465 per unit. When a major common element fails, there is little saved money to absorb it, so the cost lands as higher dues or a special assessment.
2
A new loan payment is now permanent
$84,000/yr loan line · $45/unit/mo
The $539,940 wall loan at 6.78% runs until 2034. The budget now carries an $84,000 annual loan-payment line that did not exist two years ago — about $45 per unit, per month, that every owner must fund for roughly eight more years before a dollar goes to anything new.
3
The wall was not the last big repair
More common-element work is already on the agenda
The 2020 reserve study schedules roofs, siding, and asphalt as future big-ticket items, and the May 2026 board agenda already lists "crumbling retaining walls between Buildings 2 and 3" and "soil erosion under the stairs." The conditions page documents dozens of deteriorating elements. Each is a future bill against reserves that are already near empty.
4
Insurance is the biggest line — and the most volatile
$170,000 · 35% of the budget
Insurance is the single largest expense — about $92 per unit, per month. The budgeted figure has already swung from $167,115 to $193,635 and back to $170,000 for 2025-26. A single renewal spike flows straight into dues, because there is no reserve cushion to absorb it.
Analysis
Dues already rose 30% in one year (from $420,000 to $546,000), yet the reserve contribution ($58,000) is still less than half the $120,000 the 2020 study recommended — a shortfall of about $403 per unit per year that is notbeing saved. With reserves near empty, a new loan to service, more repairs identified, and insurance pressure, the arithmetic points to continued dues increases and elevated special-assessment risk. That is why the verdict reads "Reserves: Underfunded," "Special assessment: Elevated risk," and "Dues increases: Likely."
Source: content/financials/reserve-study-2020.md, content/financials/budget-2025-2026.md, content/financials/balance-sheet-2025-12.md
The wall: reacting late vs. doing it on time
The emergency response alone cost about $83,200
The retaining wall is the clearest case of what waiting costs. The walls were flagged years before they were fixed — and by the time work happened, residents were paying an emergency premium on top of the construction contract.
Change Order #1 — emergency services
$83,200
Signed Nov 5, 2025 — on top of the $501,290 construction contract.
- EmergencyTemporary foundation shoring (40 micro-piles)$63,000
- EmergencyAfter-hours emergency fencing (city-required)$6,600
- EmergencyEmergency winterization, Building 9$4,200
- Needed anywayGeotechnical soils report$4,900
- Needed anywayBuilding permit & fees$4,500
The premium for waiting
$73,800
The emergency shoring ($63,000), the after-hours fencing the city required ($6,600), and winterizing Building 9 ($4,200) were emergency-only costs. Replacing the walls on the schedule the engineers urged would very likely have avoided them. The geotechnical report and permit fees ($9,400) would have been needed for any project.
That is roughly $479 per unit — paid purely because the work became an emergency.
What the wall ultimately cost
Construction contract
$501,290
Hall Ryan, approved Aug 2025
+ Emergency change order
$83,200
Shoring, fencing, winterizing
+ Building 9 valley pan
$12,000
Engineer-recommended add-on
Board-reported final
$599,000
Down from a ~$1M early estimate
Those line items land close to the board's reported $599,000 final cost (which reflects later scope adjustments). On top of construction, the association also paid about $13,500 for the Knott engineering studies. The project is funded by the $539,940 loan at 6.78% — repaid by all 154 owners through assessments until 2034.
Source: content/meetings/2026-01-22-board-minutes.md, content/wall-project/change-order-1-emergency-services.md, content/wall-project/loan-term-sheet.md
They knew for years. Here is the documented timeline.
These dates come straight from the reserve study, the engineering reports, and the board minutes. The gap between "we know the walls have failed" and "the work is done" is where the emergency premium came from.
- Aug 2020Reserve study flags the walls
The Level I reserve study assigns the timber retaining walls 0–3 years of remaining life, scheduling replacement as early as 2021.
- May 29, 2024Engineer engaged to design replacement
The board signs a Knott Laboratory forensic-engineering engagement (~$13,500) to design replacement of three failing timber retaining walls.
- May 20, 2025"Failed — replace as soon as possible"
Knott's Letter of Findings states the walls "have failed," "will likely fail in the near future," and "should be replaced as soon as possible … for life safety of the public."
- Aug 21, 2025Construction contract approved
The board approves Hall Ryan's $501,290 wall proposal, contingent on owner approval of the loan.
- Sep 2025Loan funds; work begins
The First Citizens Bank loan funds and Hall Ryan begins pre-construction, starting with equipment and fencing.
- Oct 24, 2025It becomes an emergency
After-hours emergency fencing is installed at the city's direction; emergency shoring (40 micro-piles) and winterization of Building 9 follow. Change Order #1 totals $83,200.
- Jan 22, 2026Project complete
The board reports the wall complete at a final cost of $599,000, reduced from a ~$1M early estimate through scope changes.
Analysis:the walls were flagged for replacement in the 2020 reserve study and formally declared "failed" with a "life safety" warning on May 20, 2025 — yet the work did not happen until it became a city-driven emergency in late October 2025. Part of the delay was the owner loan vote, which the documents show ran through the summer of 2025. The cost of that gap was the $73,800 emergency premium above.
What residents pay to be managed
The full cost of administering Star Point
Residents see ACCU's management fee, but it is one line among several professional and office costs. Here is every administration dollar in the approved budget — and what residents report receiving for it.
Administration budget · 2025-26
$46,504/yr
- ACCU management fee$29,580
- Legal — general counsel$4,000
- Legal — collections$4,000
- Copying & printing$4,000
- Accounting services$2,500
- Web service fee$720
- Miscellaneous admin$700
- Postage$504
- Answering service & phone$500
ACCU's $29,580 base fee is about $16 per unit per month and has risen roughly 10% a year. Beyond it, owners also fund $8,000 in legal counsel and collections, $2,500 in accounting, and office costs — plus a separate $750 FHA certification vendor fee.
Source: content/financials/budget-2025-2026.md
ACCU fee
$29,580
$16.01 per unit / mo
YoY change
+10%
From $26,862 a year earlier
Budget share
6%
Of total expenses
Documented service concern
“Please be advised that a routine weed treatment will be applied to the native vegetation around the pond tomorrow.”
Star Point has no pond. The notice appears to have been intended for a different community, and residents' request for clarification went unanswered. Residents also report slow or absent responses to maintenance requests while the common areas visibly deteriorate (see the conditions page).
The fee is a documented budget figure; the notice is quoted from a resident-provided communication. This is a service-quality record, not an accusation of wrongdoing.
Financial health
Cash, reserves, debt, and equity
The December 2025 balance sheet shows healthy operating and reserve cash, but also a large wall loan, uncollected assessments, a 2025 net loss, and negative total equity.
Operating cash
$62,653.24
FCB Operating
Reserve money market
$183,782.65
Separate from the wall-project fund
2025 net loss
-$390,608.43
Driven by the wall expense
Total equity
-$58,469.23
Negative on the balance sheet
Wall-project fund
$199,182.93
FCB/ICS Wall Project
Delinquent assessments
$46,401.01
Accounts receivable, Dec 2025
Analysis: operations were balanced and reserves were growing, so the negative equity is the wall debt rather than day-to-day overspending. Even so, negative equity, a large long-term loan, and historically low reserve funding all increase special-assessment and dues-pressure risk, because fewer saved dollars are available when major common-element work comes due.
Source: content/financials/balance-sheet-2025-12.md, content/financials/reserve-study-2020.md
Analysis / opinion
Property-value and financing risk
This is not an appraisal. It is a defensible resident analysis of factors that may influence buyer confidence and financing eligibility.
Deferred maintenance, emergency debt, low reserve funding, and negative equity can depress buyer confidence and make appraisals harder. FHA eligibility matters because a smaller eligible buyer pool can reduce demand; the association pays a separate FHA Pros fee to maintain certification support. Residents should pull local comparable sales and treat this section as analysis, not a valuation.
Source: content/contracts-insurance/fha-pros-service-agreement.md
Visible conditions
Maintenance responsibility evidence
These are not tickets. They are a concise map of visible problems to the Association's documented duties or open responsibility questions.
Paint fading/peeling
Association
Exterior painting and cleaning of exterior surfaces of buildings
Maintenance & Insurance Obligations chart; Declaration Art. VI Section 6.1(b).
Missing/damaged siding
Association
Exterior surfaces including siding, trim, and caulking
Maintenance & Insurance Obligations chart; Declaration Art. VI Section 6.1(b).
Missing gutters/downspouts
Association
Roofs, gutters, and downspouts
Maintenance & Insurance Obligations chart; Declaration Art. VI Section 6.1(b).
Cracking foundations
SafetyAssociation
Foundations, perimeter walls, and supporting walls
Maintenance & Insurance Obligations chart; Declaration Art. VI Section 6.1(a).
Unsafe common stairs
SafetyAssociation
Hallways, stairs, stairways, fire escapes, entrances, and exits
Maintenance & Insurance Obligations chart; Declaration Art. VI Section 6.1(a).
Fire alarm safety concerns
SafetyNeeds clarification
Building/central alarm system appears Association-maintained; in-unit smoke detector is owner-maintained; resident reports active wasps for over 1 year
Maintenance & Insurance Obligations chart; Declaration Art. VI Section 6.1(a) and Art. XI Section 11.12.