EAST WINDSOR: Twin Rivers fees to rise

By Matt Chiappardi, Staff Writer
   EAST WINDSOR — Twin Rivers residents will be paying higher association fees across the board next year under a 2009 budget of about $5.2 million unanimously adopted by the Homeowners Association board of trustees.
   The budget, approved Nov. 13, has increased by 2.92 percent, explained board Treasurer Aaron Sears. Last year’s increase was 5.25 percent.
   In terms of monthly association fees for residents, the highest hike will be for detached houses, whose owners will see a $6.05 increase for $206.70 to $212.75. Owners of studio condominiums will see the smallest increase, from $58.50 to $59.75.
   ”For me, the 2.92 percent increase is to maintain and continue to improve upon the appearance and standard of living in a 40-year-old community,” Mr. Sears said.
   Board President Scott Pohl echoed that sentiment and added that the board kept the increase as low as possible.
   ”It’s as low as you can make it without giving up amenities and services,” he said. “It’s a 40-year-old community, and unfortunately a lot of its needs like asphalt and concrete have gotten expensive over the years. That’s not an area we can afford to cut back on and not repair roads and sidewalks.”
   The new budget represents a $193,500 rise from last year’s fiscal plan, to a total of $5,191,800.
   The largest line item in the budget is for salaries, taxes and benefits. This year the association plans to spend about $1.3 million in that category, down about $27,000 from last year.
   Mr. Pohl attributed the decrease to several staff changes and acknowledged that one involves longtime Recreation Director Clark Lissner. Mr. Lissner said in March that he had been dismissed and did not know why.
   Twin Rivers employs about 15 year-round workers and about 20 to 30 seasonal employees.
   The largest increase is $26,000 for the cost of trash removal, up to a total of $798,600. The increase is built into the contract for trash removal the association has with Central Jersey Waste and Recycling, Mr. Pohl said.
   In order to keep the amount of an association fee increase down, the association tabled any major renovations for this year, he added.
   The budget does suffer from a $23,000 loss in revenue from interest and dividend income from investments.
   Mr. Sears, a certified public accountant, attributed that to recent market downturns, but offered a silver lining.
   ”On a positive note, none of our investments became impaired (lost principal) and that’s quite an achievement given the subprime meltdown,” he said. “We invest very conservatively. None of our investments have become nonpaying.”
   The association has about $2 million invested mostly in money market funds and treasury bonds, Mr. Sears added.