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

Monday, October 5, 2015

Lakecliffe Reconstruction is Proceeding - Update

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Updates Friday, October 16 

2:30pm - Workers are removing construction vehicles. Major work is complete. Stripping, cleanup and misc. landscaping remains. Residents should read the construction signs and follow directions.



7:30am - Wheaton's trash and recycling contractor was on the property at 6:07am to clear the way for the asphalt trucks. This was as pre-arranged by the association. The street was prepared at 7:15am and the first asphalt truck arrived at 7:33am. Work is beginning at Salisbury which is a more complex paving area. It will then proceed toward Briarcliffe Blvd.




Updates Thursday, October 15 

5:00pm - Driveways are complete, all barricades are down. Notices are posted in the building lobbies, all 44 of them. Bottom line is, we a moving to final street asphalt tomorrow. Equipment has been positioned and this will be a period of intense activity.

10:00am photos - Work on driveways and parking is proceeding:

Everyone is watching the weather radar as the conditions are overcast. Rain would not be welcome at this time:




7:00am/8:00am:
Yesterday early afternoon management did post update notices in the entry foyers of buildings directly impacted. The HOA website was also updated.  Work is proceeding on the driveways.

Update Wednesday, October 14. 10:30am
Well, things did slow down but work it about to resume. Completion of driveways will be next. Then the final street work. The interruption and delay with ComEd has been resolved, I understand. We are all eager for this to be completed. Look for postings in the lobby of your building, and check the official HOA website from time to time. At this point, it is in the hands of the professionals.

Update Saturday, October 10, 2015. Photos 10:30am
Work is progressing well and will continue next week. Multiple notices have been posted advising residents of adjustments to trash and recycling pickup, street parking restrictions and construction updates.

It was a good week. Weather cooperated and the contractor, our management, maintenance and several board members worked diligently to make this as rapid, trouble free project as is possible within reasonable budgets. Additional communication efforts were also made.

Next week should be the conclusion. Of course, this will be determined by weather and breakdowns. Breakdowns? What's that?  For example, with the construction in the area cement is in short supply. Cement is a vital ingredient in concrete which is used for curbs and walks. There was a power outage (two, actually) and this also delayed the work while ComEd researched the problem.



Sample of Photos, October 9, 2015











Update Wednesday October 7, 2015, Photo at 3:46pm
Two notices were posted in the entrance of each building in the construction zone and on every cul-de-sac that connects to Lakecliffe.  One is on the bulletin board and the second is taped to the glass so anyone inside can see it. Additional notices were added to each of the construction signs. This is under the request of the engineer and the contractor. No parking on New Asphalt. No kidding. Towing is probable.





Update Wednesday October 7, 2015, Photo at 8:33am
The binder course is being laid. This is one step of this multi-step process. Another layer of asphalt will be laid in a day or a few.  This new surface cannot be parked on tonight. Notices will be posted in the areas with the new street or the connecting cul-de-sacs. Large signs will also be posted.



Original Post Monday October 5, 2015
The view early this morning.



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