Updated Surplus Numbers

Updated Surplus Numbers
Updated Surplus Numbers: Actual surplus 2018 per audit was $85,163.
Boards 2011-2018 implemented policies and procedures with specific goals:
stabilize owner fees, achieve maintenance objectives and achieve annual budget surpluses.
Any surplus was retained by the association.
The board elected in fall 2018 decided to increase owner fees, even in view of a large potential surplus

Average fees prior to 2019

Average fees prior to 2019
Average fees per owner prior to 2019:
RED indicates the consequences had boards continued the fee policies prior to 2010,
BLUE indicates actual fees. These moderated when better policies and financial controls were put in place by boards

Better budgeting could have resulted in lower fees

Better budgeting could have resulted in lower fees
Better budgeting could have resulted in lower fees:
RED line = actual fees enacted by boards,
BLUE line = alternate, fees, ultimately lower with same association income lower had
boards used better financial controls and focused on long term fee stability

Saturday, September 27, 2008

The Future and Where to Go from Here?

The board elections have been completed, the vote tallies are in, and we have three new members on the board. Congratulations to them. To the other members of the board and to the members who have lost in this election, I say "THANK YOU" for all that you have done to get this association to where it is today.

I began this blog as an exercise. The original purpose was to post my personal "adventures" and observations as a BLMH Condo Unit owner. During the campaign of the ROC, I became aware that the communications system in place at BLMH was inadequate from the perspective of countering falsehoods, rumors, or erroneous statements; all of the things that some campaigns generate. I decided that my blog would become a dissenting voice to the ROC so as to provide a measure of balance and fairness to the campaigning juggernaut.

The ROC campaigners ran on a slate which included improved communications. Now that the election is over I expect that they will keep that promise and provide an official BLMH website, open to all residents and which supports a true dialog between residents and the board. So my blog could revert to what is was before, a reflection of my observations in the pastoral and sometimes sleepy community that BLMH appears to be, or, I can use it to be of service to that community.

At this moment, I am inclined to become a more visible and vocal part of the residents of this community, somewhat like a watchdog. While I do want to be of service and make a contribution, this is not simply altruism on my part. As I have stated previously we the owners of BLMH are bound as a group who share shelter and a significant investment. I have a personal vision of where this association should be in 5, 10 and 30 years. I have the past promises of the board on how the reserve contributions I make will be spent. My personal financial contribution to that endeavor is about $30 each month to a fund for the declared purpose of replacing our roofs and another $16 each month to a fund for replacement and repair of paving, concrete, masonry, carpeting, and lake restoration. (This based on the actual budget for the year 2006). I want to see this association grow in a manner consistent with my vision, protect my investment and see those programs to fruition.

What about you?

Let me know where you want this blog to go. You can email me at:

letmethinkaboutthisblog@gmail.com

3 comments:

  1. I emailed our new communications director with questions and concerns the night of the last board meeting and have yet to hear from her. So "me thinks" the campaign promises of the ROC were just that. A tool to get elected. But I will continue to go to the meetings and perhaps be thorn, to get some answers.

    Everyone speaks of the bad shape the roofs are in, and I am terrifed that my roof will begin to leak and with the "service" that I have received from our property management company, my condo will flood before they "answer the call". Who is going to monitor that?

    ReplyDelete
  2. Dear Anonymous:
    Please do continue to go to the meetings. I have noticed that these are more frequently attended by those with complaints or negative assessments. The Board needs to get a balanced view of what the issues are for the unit owners. I think we all are concerned by the new board.

    As for the roofs, this has taken of a "life of it's own" as they say. The Board has emphasized roof repairs, I believe, in response to critics who attend meetings and to the campaign of the ROC which was first and foremost about assessments. What I have heard from our Mangers and the board members while attending Board meetings is essentially this "We have a program and a timetable to adequately fund the replacement of the roofs, and simultaneously change the discharge point of gutters, so as to address freezing and damage to the driveway."

    However, we do have a new board, and this could change. I think the crux of the issue is this: Shall the board continue with the program to replace the roofs, or modify it and simply patch as leaks occur, allocating those funds elsewhere and reducing assessments?

    They need our encouragement on how to proceed.

    ReplyDelete

Please leave a comment!

Note: Only a member of this blog may post a comment.