and I have been elected to the board of managers of BLMH.
Thanks to all who supported and encouraged me in this endeavor. There is a lot of work to do.
One of my first tasks will be to pick up a copy of the reserve study and begin digesting that.
Additional Information Posted in Response to an Inquiry:
I posted additional info as a response to an inquiry about who won a position in this election. There were four candidates and three positions available:
I won a position.
Our current Treasurer won a position.
Our current CD won a position.
Above: Intermittently, for a time, boards informed owners of association finances
Newsletter 2008 excerpt is an example of earlier board willingness to communicate with owners.
The boards of 2019-2021 prefer not to do so.
https://tinyurl.com/BLMH2021
Life and observations in a HOA in the Briarcliffe Subdivision of Wheaton Illinois
Best if viewed on a PC
"Briarcliffe Lakes Manor Homes" and "Briarcliffe Lakes Homeowners Association"
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 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:
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
Congratulations! I've had your blogspot address since it was sent out but just now had time to read through much of the posts. It's clear to me you have strong budgeting skills amoung other attributes. That's comforting after attending my first board meeting last night, although I vote absentee every year. I'll be looking forward to your posts.
ReplyDeleteIn response to an inquiry about who won a position in this election, there were three positions available:
ReplyDeleteI won a position.
Our current Treasurer won a position.
Our current CD won a position.
I guess 2 out of 3 ain't bad...
ReplyDelete