Calculation and Review of Service Charges
Service charges are worked out annually. At the end of each service charge year an income and expenditure account is prepared. This will show Raglan and residents whether costs have exceeded the service charge for that year. Any interest that is accrued by the service charge account is credited to the balance within the account.

If costs have exceeded the amount taken in service charges then the next year's service charge will rise to allow for this. The service charge will also increase in line with inflation and with other known cost increases eg: fuel. If the account shows a surplus of money this will be refunded directly to residents or if only a small amount, carried forward and used to reduce the next year's charge.

Every year, a residents' meeting is held at the time of the service charge review. This is the residents' opportunity to raise any questions about the service charge account and to discuss the next year's charges. In addition residents have the right to inspect invoices paid for by the service charge.