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, April 5, 2011

A Call for Marketing Assistance

During the most recent association meeting, our president made a call for the preparation of a "sales and marketing" brochure for this association.

This will be an owner and board prepared item, and it needs to be done quickly if we are to have it available for owners this spring and before summer.

If you are an owner or tenant, and you have specific skills or experience in marketing and even as a former realtor, I'm sure our association can use your input.

I'm glad the president made this change in direction. I would have preferred that this be done last year, when the government announced a home buyer credit. According to Zillow's estimate, prices in our association began rising in March of 2010 before again declining in November.

If you want to participate, contact our Communications Director. If you have any issues or comments or legitimate suggestions, contact me. I consider this to be one aspect of a coordinated sales and marketing campaign for our association. I've been working on a plan for this for several years, and I'll be sending an email to the board at large. I have other duties and responsibilities, so it will rest upon our president and our CD to get this done.

Here are a few ideas for owners:

  1. Update your information at Zillow. Add photos of the grounds, or other aspects of the property or your unit. 
  2. Consider participating in a "spring cleanup" campaign.
  3. Send our CD your insights as a recent buyer. Why did you purchase here? What attracted you? I've spoken with a few of our new owners, or neighbors who stated they purchased in the recent past. I found their opinions and insights to be refreshing and inspiring. 
  4. Should the association sponsor one or more "open houses" this year? 
  5. Give your board you ideas and feedback. It's going to take some effort to get this done. 
As a board member, I can support the production of a brochure. I can't support the use of association fees, but can support the use of "sweat" in producing this. Once done, the brochure could be made available to interested owners for the cost of printing alone. Should we send some to realtors in the area???

Let us know, and let's not lose momentum!

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