Ledgemere's finances are managed by the Board of Governors with support from FirstService Residential. Each year the Board adopts an operating budget, funded by owners' monthly fees, which pays for insurance, grounds care, snow removal, maintenance and contributions to the reserve fund for major projects. The reserve fund is currently paying for roof replacement, siding and deck repairs, with paving planned in a few years.
Fiscal Year 2027 approved budget
The FY2027 budget covers October 1, 2026 through September 30, 2027.
$2,938,111
Total budget, including reserve contributions
$2,188,111
Regular assessments (monthly fees), up from $1,799,126 in FY2026
$1,400,000
Reserve contributions: $650,000 from operations plus $750,000 from the Supplemental Condo Fee 2024-2028
Where the money goes
FY2027 approved spending by category, share of the $2,938,111 total
Budget detail by category
| Category | FY2026 budget | FY2027 approved |
|---|---|---|
| Insurance (property & liability) | $258,296 | $448,977 |
| Federal & state taxes | $6,000 | $17,000 |
| Landscaping | $222,070 | $220,000 |
| Snow removal | $150,000 | $165,000 |
| Pest control | $17,000 | $17,000 |
| Painting | $120,000 | $144,765 |
| Pruning & tree removal | $80,000 | $80,000 |
| Gutters | $15,550 | $42,000 |
| Plumbing & electrical repairs | $50,000 | $50,000 |
| Roads, siding, decks, fences, pond, drainage & other repairs | $89,700 | $103,700 |
| Site staff payroll & benefits | $117,710 | $118,700 |
| Management services | $82,800 | $87,769 |
| Accounting & legal | $8,500 | $12,000 |
| Administration, utilities & storage | $31,500 | $31,200 |
| Transfer to reserves | $550,000 | $650,000 |
| Supplemental Condo Fee 2024-2028, transferred to reserves | $750,000 | $750,000 |
| Total | $2,549,126 | $2,938,111 |
What's driving costs
- Insurance. Property insurance is the biggest operating increase, budgeted at $448,977 for FY2027. Water-damage claims affect the master policy renewal, which is one reason the Board asks every owner to keep up with preventive plumbing maintenance.
- Reserves. Together, the Supplemental Condo Fee 2024-2028 and the regular reserve transfer put $1.4 million into the reserve fund. The Supplemental Condo Fee is paid by owners on July 1, August 1 and September 1 of each year from 2024 through 2028. The reserve fund is currently paying for roof replacement (scheduled to be complete in 2027), siding and deck repairs. Paving is planned in a few years.
- Snow and grounds. Snow removal, landscaping and tree work make up a large share of the budget in a wooded New England community.
Owners can view their own account balance and payment history on the Resident Portal. Questions about the budget can be submitted through the portal, or raised at a Board meeting or the annual meeting.