Inflation Irritation

If you've been watching the news or paying your bills, you've noticed that we're all being hammered with higher prices on everything from apples to zirconium. It's not just here in the United States -- according to the World Economic Forum, inflation is ballooning all over the world.

Thankfully, this month's Consumer Price Index (CPI) report showed zero growth in inflation during July of 2022. But the overall inflation rate is hovering at about 9 percent over the 12 months ending this past June. That's a lot!

What does this mean for condominium associations like Lake Dora Villas? Basically, like everyone, we're seeing the costs of goods and services increase. In particular, property and liability insurance rates are projected to increase 10 percent or more in 2023, and utility bills in will increase more than 25 percent, according to the City of Mount Dora.

None of this is good news. But the LDV Association Board has been meeting this month and last to work on ways to keep our 2023 budget in check, while, at the same time, maintaining the standards of our beautiful community.

If you'd like to know more, please attend the monthly LDV Board Meetings. Everyone is invited and encouraged to join! We'll be continuing to work on the budget over the next several weeks, and will distribute a draft to all owners in September. The vote to approve the 2023 budget will take place at October's board meeting.