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IHCA Accounting Updates: Upcoming Assessment Billing, 2021 Auditor’s Report

By October 19, 2021October 22nd, 2021Connections, IHCA
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Upcoming January 2022 Assessment Billing Reminder

The Issaquah Highlands Community Association (IHCA) annual assessment for the 2021-22 fiscal year remains at $948 per year. The IHCA will mail semi-annual assessments for $474 to homeowners by December 7, 2021. The semi-annual IHCA homeowner assessments are effective January 1, 2022, through June 30, 2022.

Residents on the monthly electronic bank debit payment (ACH) plan will receive statements for informational purposes only; payments are not required unless there are other delinquent balances, including unpaid fines or late fees.

For check payers, semi-annual assessments are due in full by January 1, 2022. Payments not received by January 10, 2022, may incur late and other collection fees when allowed. Those on the semi-annual payment plan must pay all six months of the assessment period in full by check or online. Make one-time online payments with free eCheck, or credit/debit cards, which come with a 2.95% fee per transaction to the homeowner (rates subject to change).

We encourage semi-annual payers to convert to the monthly ACH payment plan to ensure timely payments and internal efficiency. This plan is the IHCA’s recommended monthly payment plan; 86% of Issaquah Highlands residents are currently on this plan. The IHCA will provide an ACH form with your billing statement for your convenience.

High Street Center 2021 Assessments Reminder
For commercial and Westridge owners, the 2022 High Street Center assessment is in addition to the IHCA master assessment. This annual assessment is due and payable in full to High Street Center on January 1, 2022 (late on January 10). Because this is an annual assessment to a different entity, payments are not available for monthly ACH withdrawal like the IHCA master assessments. This assessment must be paid in full separately, online, or by check to the address on your statement. Statements will be mailed by December 7, 2021.

For all payments, our bank’s online payment portal is available on our website. Use information from the bottom of your statement to make a payment.

Please direct any questions to 425-507-1119 or email payments@ihcommunity.org.

Independent Auditor’s Report Returns “Clean”

The IHCA completed and received another “clean” audit (unqualified opinion) from our independent auditors, Newman & Company, CPAs.

The audit report states the IHCA’s financial statements for the fiscal year ending June 30, 2021, fairly present the financial position of the association and are in conformity with generally accepted accounting principles. The IHCA will share the report on the Issaquah Highlands website.

We continue to maintain strong controls over the accounting environment and are committed to maintaining and providing complete and accurate financial schedules to our auditors that are free from material errors. This keeps our audit fees low and our auditors happy.

Kristyn McKinnon is the IHCA accounting manager. 

As published in Fall 2021 Connections >>

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