Financials
Maintenance Assessments
BWMA maintenance assessments are based on a budget that is formulated annually and approved by the Board of Directors. The assessments are then passed through to the villages for ease of collection. Each homeowner is required to pay regular annual assessments to ensure that funding requirements of the community are satisfied. BWMA assessments cover the costs of all physical, fiscal and administrative services.
- BWMA assessments are calculated and levied at a millage rate for all individual lots, which are based on three variables as follows: (1) the total dollar amount of revenue to be raised (as determined by the budget; (2) the total assessed valuation of all pieces of property in the community, as determined by the Palm Beach County Tax Collector; and (3) the assessed valuation of the individual piece of property. Note: Palm Beach County property taxes are calculated using the prior year’s property tax assessment rolls.
- Cable television service is provided to residents under a bulk contract that provides each village board with several levels of cable option packages to choose from for their respective residents; all with discounts off the regular retail cable retail rates. The costs for this service are collected by the respective villages along with all other maintenance assessments.
- Emergency medical service is provided to residents by on-site American Medical Response (AMR). The costs for this service are collected by the respective villages along with all other maintenance assessments.
Budget
Adopted Budget
The adopted budget is prepared with the utmost of care, taking into account the economic climate and the importance of keeping Boca West the premier community in which to live.
Audit/Financials
The independent certified public accountant firm of Hafer & Co. performed an audit of the Boca West Master Association, Inc. for the fiscal year ending September 30, 2022.
You can see the results of the audit and their findings by clicking on the link below: