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, October 17, 2017

Elections? We don't need no stinking elections!


Bookmark and Share


Our HOA election was, well, in a word, a "disaster".

What do I mean? Fewer than 20 percent of the owners voted, and about 10% attended the annual meeting.  So we now have only four duly elected board members in a HOA of 336 owners. That's a 1.2% participation rate.

Even more indicative was the annual budget meeting. That's the meeting during which the board, with management assistance, arrives at a budget for the next 12 months. This requires balancing Operations & Maintenance, and reserve requirements with fees. The result is the determination of fees for the next year.

So how many owners attended this really critical meeting? We had four board members to do the work, because the owners couldn't be bothered with the mundane chore of voting. Then we had three former board members in the audience. Yes, you did read that correctly. Seven people attended this critical meeting and all were either current or former board members.

Wow, it must be wonderful to live in La-La Land.

When this HOA is like Cook County, then the owners will come out of the woodwork and complain. "You reap what you sow" is the biblical expression.

During the budget meeting one owner raised the potential issues of electric cars on the property and the recommendation for the HOA to invest in electric metering stations. Recently a long term owner complained about the problems facing ducks on the property.

Yep, we do have to have our priorities. As long as there are schleppers like me to do the bidding of these spoiled brats, nothing will change.   Our longest serving board member used to state "we walked the grounds [32 acres] and picked up trash". Yep that's what is wanted and needed. Servants.

When the proverbial "shit hits the fan" then the owners will show up and complain and state "How could this happen?" How indeed.


No comments:

Post a Comment

Please leave a comment!

Note: Only a member of this blog may post a comment.