LEGAL AND FINANCE
Finance and Charges
Finance
The Treasurer is responsible for managing the finances of MOSA, paying accounts as directed by the Committee and reporting at the meetings. In addition they prepare an Income and Expenditure Account and Balance sheet at the calendar year end, for presentation to the auditors
The auditor who must be a qualified accountant, is elected each year at the AGM. The auditor reviews the books and records and certifies that the accounts give a true and fair view of the transactions of the association.
Current Auditors - Messrs. Adams, Beeney and Co.
Property Charges
The current charges are levied to ensure the maintenance and repair of the private roads, drains, twittens and the upkeep of the Greensward. The collection of money and the setting of the charges is the responsibility of the relevant Road Representative/Committee in liaison with the Management Committee.
The cost of these activities are met by two separate charges, which are payable by the owners of all properties in the Area.
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Road and Associated Asset Charges: which apply to individual roads or road groups and cover all infrastructure or other costs specifically applicable to those roads or groups. As they cover six private road groups (excluding Sea Lane), will vary.
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Estate Maintenance Charges: which, cover all other activities and general administration, including corporate or communal legal and professional fees and insurance premiums and are common to all.
The Estate Maintenance Charge and Road Charge is payable by March 1st each year
In addition, residents wishing to have access to or cross Association Land, who do not pay a road charge, maybe liable to an "Association Road Charge" which will be determined by and agreed with the Association.
If a Road Group's account balance has insufficient funds to pay for the costs of repairs etc., the required money is collected by way of a special levy, agreed with the Management Committee by the road representative/committee after consultation with residents/property owners. The special levy is payable by property owners in that road group.
Non Payment of Fees
Every resident living on our estate is obliged to pay their share of the costs of whichMOSA has already incur, on behalf of some, or all, of our residents on communal items and services.
If a resident fails to pay any of theses charges in full the Association will seriously consider invoking the Recovery of Outstanding MOSA Charges - Enforcement Procedures. If you require a copy of the procedures, please contact the Secretary.
Building Works Charging Schedule
To offset the impact of HGV traffic on the Associations's road surfaces, drains or verges, a Buildings Works Charge will be applied (Finance and Charges button). These charges, along with other requirements to safeguard the environment and amenities of residents will be set our winton an Agreement between the Association and the developer. This will help to ensure that the road charges paid annually by residents are kept proportionate to normal road usage and maintenance requirements.
The charge will be in the form of a non-refundable financial bond. The charges are outlined in the MOSA Building Works Charging Schedule below.
Other Charges
Other charges levied by MOSA are as follows:-
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Conveyancing information - Standard Information Pack £250
