Archive Financials

Interest, liens and payment plans

If you are experiencing financial difficulty please contact us immediately to arrange a payment plan

Interest & Late Payments

To ensure fairness across all members, interest is applied consistently to unpaid balances.

Interest begins after the November 15 due date
Interest is calculated monthly on any unpaid balance
The rate applied is:
- 10% annually (or the maximum allowed by law)

How it works:

Interest is added to your account monthly
Any payments received are applied to balances based on the Association’s allocation methodology (dues → assessments → interest)
Once interest is applied, it cannot be waived, as this ensures fairness to all members who pay on time

Arrears & Account Status

Accounts with unpaid balances will continue to accrue interest monthly
Members with outstanding balances may:
- Be restricted from voting at the annual meeting
- Be ineligible to participate in certain Association activities

Payment Plans & Financial Hardship

We understand that financial situations can change.

Members experiencing hardship are encouraged to contact us as soon as possible
The Board may offer structured payment plans when appropriate
Our goal is to work collaboratively while maintaining fairness to all members

Budget Creation and Approval Process

Annual Budget Process

Draft the new budget — We determine total funding needed for operating and capital expenses using updated information for each line item, or an inflation forecast where updates aren’t yet available.
Adjust for changes — We add new expenses (e.g., Beach Erosion or Bridge Assessments) and reduce where possible (e.g., Legal).
Budget Committee review — A committee of non-board community members reviews and approves or amends the draft.
Board approval — The full board reviews and approves the revised draft.
Community publication — The proposed budget is shared with the community via ballot, email, and our website.
Annual meeting approval — The budget is discussed and approved at the annual meeting.
Final calculation — After the fiscal year closes, any remaining operating balance is subtracted from the total to be raised.
Per-lot allocation — The adjusted total is divided by the number of lots. (270 at time of publishing this)
Invoicing — Each lot is invoiced for that amount. Owners of multiple lots receive an invoice for each.

Other Important Information

Closing / Refinance Requests

Please provide at least 14 days notice for:
- Payoff statements
- Closing documents
- Lender requests
Requests within 14 days will be handled on a best-effort basis

Additional Information

Arrears reports and historical statements are available for transparency
Bridge project details and prior communications can be found here:
- Annual Meeting News
- Bridge Project Information

Contact Us

📧 chocoruasb@gmail.com
📞 (603) 323-6150

Current Arrears Report

Overview

As of April 15, 2026. These amounts will be honored until May 15, 2026 On May15 amounts due will be increased for additional interest due. As of April 30, 2026, CS&B has a total outstanding arrears balance of $38,083.This amount includes:

$12,138 in prior period arrears carried over
$25,945 from the current fiscal year, including dues, assessments, and interest

Members with open balances will begin receiving emailed invoice reminders and account statements directly from QuickBooks.

We appreciate your timely attention to any outstanding balances and your continued support in helping fund and maintain our community.

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