MVF 2025 Draft Budget overview

As Montgomery Village Foundation (MVF) staff works to prepare the 2025 Draft Budget for review, initial projections show another conservative budget focused on keeping assessment rates as low as possible and continuing to provide a high volume of services to Village residents. The below preliminary summary reflects a proposed, non-approved outline for fiscal year 2025 (FY25).

Currently, staff estimates a $.50 increase for the MVF Fund and a $2.55 increase for the Designated User (DU) Fund. While continued review of the 2025 budget may change these estimates, the current proposed assessments would increase to: MVF Fee: $22.02 per unit, per month; DU Fee: $46.07 per unit, per month.

Overall Expenses are projected to total $3.49 million from the MVF Fund and $3.59 million from the DU Fund.

Undesignated Reserve Balances will be used to offset increases in the MVF fee related to Personnel, Operating and Reserve costs. For FY25, $250,957 is proposed to be spent from MVF Undesignated Reserves; DU Undesignated Reserves proposes no spend.

MVF estimates a total Contribution to Reserves (CTR) of $1,793,356 and total Reserve Expenses of $6,599,569 ($1,596,311 from MVF and $5,003,258 from DU). The Reserve Study is currently being finalized, and based on this, the proposed CTR may change, slightly affecting the proposed assessment rate.

The Audit Committee will review the Draft Budget at its Tuesday, Aug. 13 meeting, before sending it to the MVF Board of Directors. The MVF Board will then review the Draft Budget at its Thursday, Aug. 22 meeting, with the goal of approving it for publication. Once published, the budget will be open for a formal public comment (30 days) and subject to further revisions before its final approval in October. Comments or questions can be directed to CFO Daniel Salazar at This email address is being protected from spambots. You need JavaScript enabled to view it. or in writing to Montgomery Village Foundation, Inc., ATTN: 2025 Proposed Budget, 10120 Apple Ridge Road, Montgomery Village, MD 20886. Once approved for publication, the Draft Budget will be available online at www.montgomeryvillage.com; a hard copy will be available at the MVF Office, 10120 Apple Ridge Road, following the Aug. 22 meeting for those who cannot access it online.

The Aug. 22 meeting will be held in person, beginning at 7:30 p.m. in the North Creek Board Room, 20125 Arrowhead Road. Meeting information—including the information packet—can be found online at www.montgomeryvillage.com in advance of the meeting.