Condo V- July 2026
Happy July! On July 4th, the United States will mark the Semiquincentennial, 250 years since the adoption of the Declaration of Independence. We hope everyone celebrates and enjoys this major milestone of our beautiful country.
July symbolizes warmth, happiness, and adventure. This month brings long days filled with sunshine and opportunities for outdoor activities, barbecues, and pool and beach outings. Nature blooms in full during July in Bretton Woods—gardens display vibrant flowers, the golf course is always the best shades of green, the birds are singing beautiful songs, there is so much joy and positivity aligning with the overall spirit of the month.
July commemorates several significant events and holidays:
• Independence Day (July 4th): Celebrates the United States’ freedom with fireworks, parades, and family gatherings.
• World Population Day (July 11th): Raises awareness about global population issues.
• International Friendship Day (first Sunday of August): Although in August, many celebrations begin in July, emphasizing community and support.
PROJECTS AND UPCOMING WORK
• Spraying for ticks was conducted in late June. There has been an uptick (pun intended) in the tick population, so we will be monitoring (called sweeping) and will spray again when and where warranted. If you’re spending more time outdoors, try to wear light colored clothing so you can spot a tick more easily. Try to stay away from areas that ticks prefer, like wooded areas, shrubs, and grassy areas. Ticks typically exist on vegetation 18” or lower. They don’t jump but easily get picked up by animals and humans and transported to some non-typical locations and heights.
BOARD OF MANAGERS ELECTION RESULTS
Thanks to everyone who participated in our Board elections process. We received approximately 30 ballots/proxies. Unfortunately, there were not enough to establish a quorum (51 ballots/proxies required). Therefore, the election was not validated, and the Board will remain as it currently is with appointments as decided by the current Board.
The members of the Board of Managers for Condo V are James Garrahan, President; Terri Intini, Vice President; Fran Fialkow, Treasurer; Ann Kiss, Secretary; and board members are Steve Brylski, Jean Enssle, Anita Garrahan, Donna Giuliano, and Frances Montera.
CONDO V BUDGET COMMITTEE WORK BEGINS IN JULY
Condo V’s Budget Committee will be hard at work starting this month to establish the upcoming 2027 budget. Budgets are the foundation of condominium association management because they ensure financial stability, protect property values, and fulfill legal fiduciary duties to the homeowners. Without a structured budget, Condo V risks underfunding daily operations, depleting emergency funds, and facing lawsuits or severe property decay. A condo budget in New York must account for distinct categories of income, operating expenses, and reserve contributions. There are several essential components needed to structure a New York budget.
1. Operating Expenses
These are fixed (contractual) and variable recurring costs that keep the buildings and property running day to day.
Usually included in operating expenses are electricity, water, sewer, insurance, taxes, pest control, trash removal, and insurance policies.
We also have an additional operating expense for our on-site Homeowners Association (HOA).
2. Reserve Funds & Capital Expenditures
Condo V puts aside 10% of the total operating expense into a Reserve Fund. FHA, HUD, Veteran’s Administration, and various Mortgage companies that provide financing, refinancing, and reverse mortgages require that our financial statements show a minimum contribution annually. This minimum requirement is going to be increased by regulation to 15% in 2027. Since our fiscal year ends September 30th, the new fiscal year ending Sept 30, 2027, will require that the reserve fund be increased by an additional 5% contribution.
Condo V must also save for long-term replacements in an effort to avoid unexpected special assess-ments. Examples of capital expenditure are roofs, retaining walls, sidewalks, and drainage replacements. Condo V has been fortunate that we did not have any assessments or take out a loan for our parking lots and roofs due to our savings plan.
3. Anticipated Income:
Common Charges: These monthly maintenance fees are collected to cover Operating Expenses, Reserve Funds, and Capital Expenditures.
Condominium common charges keep rising because the actual costs of operating, insuring, and maintaining property are increasing due to systemic economic and regulatory pressures.
Because a condo board operates as a non-profit entity, it must collect enough money from unit owners to match its annual operating budget and mandatory reserve allocations.
By focusing on transparency, proactive cost management, and protecting property values, your Condo V Board is actively fighting inflation and rising vendor costs. This may result in some deferred projects due to prioritizing needs by evaluating need and urgency. It is important to know that keeping the budget tight protects Condo V’s reserve funds and prevents future special assessments.
JULY BIRTHDAYS
James Garrahan
Zachary Jones
Gary Kull
Joyce Martin
Rita Mullen
Rosemary Tejeda
Elias Thomas
Jacqueline Volpicella
Another year older, wiser, and even more amazing.
Happy Birthday!”
HOUSE RULE
OF THE MONTH
FIREWORKS ARE ILLEGAL
While we want all our residents to enjoy the summer holiday season, setting off fireworks is prohibited in the Bretton Woods community. They can cause fires—especially because our homes are so close together, the wooded areas tend to be dry at this time of year, and they can cause significant damage to the golf course, as well as the potential for injury.