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

Tuesday, May 5, 2009

Benches and other "ideas"

During the most recent association meeting, the subject of park style benches was broached. This has come up during past meetings, also. Our Architectural Director pointed out some of the maintenance issues (that's code for "hidden costs", in plain English).

There is, however a way to get benches. I'm borrowing an idea from the nearby Morton Arboretum. The "Mort" has a program for "Tribute Gifts". According to the Mort, a tribute gift is "a unique way to honor and recognize special friends and family. The Morton Arboretum can help you celebrate a special occasion such as a wedding, anniversary, birthday, or holiday in the life of a loved one with an enduring tribute".

Good idea, and just on time for "Mothers Day".

I'm not suggesting that interested unit owners purchase a "Tribute Gift" from the Mort. Rather, I'm suggesting that interested members of our "community" consider purchasing a "Tribute Gift" from the Association. Our community has 40 acres or so, 802 trees in sculpted gardens with fountains, streams and many birds, chipmunks, squirrels and even ducklings. Quite a lovely nature area, and some of our unit owners have suggested that the dogie droppings are because of visiting neighbors. So why not fund our lovely preserve?

Possible choices, using the Mort as an example:

Tribute Tree = $2,500. Includes an engraved tree tag, dedicated for five years.
Tribute Bench = $5,000. An engraved name-plate dedicates a specific bench.
Walkway Brick = $1000. A 8x8 inch brick with four lines of personalization.
Library Book = $250. Dedicate a new book with a personalized name-plate in the front cover.

I realize we do not currently have a library. So purchasing a "Library Book" is probably not a good idea for our association. However, there have been suggestions in the past to have a "community building" and with the current emphasis on the theme of community by members of the board, who knows? Perhaps there is a library in our future. We do need somewhere to have these parties, don't we?

I recommend that unit owners who are interested in park benches simply send a check for $5,000 to our association and mark "park bench" in the subject line of the check. I am certain this will get the attention of the board and of management, and we will then have the park benches that some of us desire.

Taking this a step further, if each unit owner were to purchase a "Tribute Tree" from the association, we would fund 336 trees. We could enroll friends and relatives in purchasing the remaining 446 trees. That would generate about $2 million dollars for the association, and should assure the care of our grounds for many years.

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