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

Wednesday, August 28, 2019

Special Meeting about water mains

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Unsigned posted notice of the meeting - no indication if it is "official" or not


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Updated  August 31
There is a special meeting with the City of Wheaton about the water mains in our association. That meeting is scheduled for September 5 at 7:00 pm in the Rathje room of the Wheaton Park District.

More than a year ago, the City of Wheaton sent a communication to our HOA to discuss taking over the water mains.  This was a result of 5 years of effort by me. The current board has done nothing about this, to my knowledge.

A failure to act by the board will spend $millions of owners fees needlessly.

But the board seems oblivious. I sent and email to the management demanding that all current board members attend the meeting.



Added August 31, 2019:
There was no mention of this in the most recent newsletter (July) and the notice does not indicate if this is an official, sanctioned HOA event. This February HOA meeting notes mentions the water mains, but no mention of the formation of a special committee or who is on that committee. Note: the HOA never posted the January meeting notes, but it is mentioned in the February report.

This led me to contact Management and ask about the notice.

  1. Did the Board ever send a letter to the City indicating it wanted to discuss the Water Mains, in response to the City Manager’s letter? Answer: Yes the Board asked members to form a committee and the committee reached out to the City discussing the water mains. This was the committee members idea to have an “informational meeting” concerning the water mains so owners can understand what this process will entail. 
  2. The attached notice was posted at [my address] and I assume elsewhere. A meeting is to be held on September 5 regarding the Water Mains. According to the notice the Wheaton Water Superintendent will be there. I assume the HOA did not schedule this. Will the board be there? Who else for the HOA? Answer: The Committee did set up this meeting with the City and superintendent, again to inform owners of what this whole process is about. The Board will be in attendance, but this IS NOT A BOARD MEETING, no discussion with owners and the Board will take place, nor will the Board make any decisions at this meeting. This is informational only. I will also be attending, but I might be later I have a meeting before this meeting on the same evening.
  3. In a later email Management stated this: The board does want owners to attend and they will have a drop box for owners questions for the supervisors at the meeting.