This plan should be as detailed as possible. No costs should be missed, and everything must be present in the records for cross-checking.
All Participating Owners should make payments related to the maintenance and emergency amendments of the private road to the Road Commission Agent.
Further, the Road Commission Agent shall send a notice covering all the payments due to every owner. The Participating Owners shall then pay the due amount within two weeks.
Annual Report, Budget, and Bank Account
The Road Commission Agent is responsible for establishing and maintaining a bank account to hold all the road maintenance funds. Any check issued from this particular account should be signed and approved by one chosen Participant Owner and the Road Commission Agent.
The Road Commission Agent shall prepare and present an annual report to all Participating Owners related to the complete accounting of the funds.
The Road Commission Agent shall also prepare a budget plan on the (date and month) prior to the end of the year. All the Participant Owners can then amend or approve the final plan through voting conducted 30 days before the end of the fiscal year.
Any Emergency Repairs
If the private road requires certain emergency repairs determined by the Road Commission Agent, they shall arrange the resources for the work required. However, the cost shouldn’t exceed the amount already available in the emergency fund account.
The Road Commission Agent shall then communicate the emergency repair requirement to the Participating Owners and would notify them about any amount due to replenish the contingency fund.