“The budget should be balanced. The treasury should be refilled. The public debt should be reduced. The arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work instead of living on public assistance.”
Cicero, 55 BC
This was in a recent issue of “Worth” magazine.
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
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