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

Friday, June 19, 2009

My Nomination for "Resident of the Month" BLMH Newsletter Article

This was sent on June 19 in response to the newsletter request for recommendations:

Hi [Communications Director]:

This is regarding the newsletter request for candidates for the “resident of the month” piece.

With 336 unit owners, it will take 28 years to hear about each one of us. Obviously, that will never happen. For example, I will be dead by then. I don’t know what criteria you use for selecting “eligible” candidates. However, I do have several candidates that I want to recommend for extended articles.

As someone who attends various “official” and announced Association meetings; i.e. meetings which are open to all unit owners, I have seen discussions which revolve around budget and expenditure issues. However, that and other information never gets to the 95% of the unit owners who do not attend the Association meetings. Nor is there any requirement that they attend. As one who used the proxy voting techniques during the most recent election, I am sure you are very well aware of that.

So for the 95% of us who do not attend meetings, the only official and delivered source of information is the Manor Briefs newsletter.

I nominate as residents for expanded articles, our past presidents and the current members of the board. I would really like to know, in their own words, the issues and perspectives that they face or faced during their tenures.

I would like detailed statements from each of the members of the Board of Managers regarding their positions, concerns and how during their current tenure they are addressing them. I would like details about budget constraints as each member sees them and the methods they personally employ to balance fees collected with conflicting demands of unit owners for more services, complete and totally maintained buildings, grounds and streets. I’d like detailed statements about how they would each specifically reduce fee increases (you most recently voted NO to a fee increase). Would that require a 10% spending cut, or 15% or what? And if so, specifically where will each member of the board take those cuts? What budgets are to be reduced? Would this include reduced grounds maintenance, less snowplowing, more roof repairs as roofing projects are delayed, shutting down streams, etc.? If not, then how to reduce expenditures (no kidding) and maintain everything including service levels, reserve funding and operating budgets at an unchanged level. I would also like to know how members of the Board of Managers will and are balancing the demands for reduced expenditures with conflicting demands of different groups of unit owners and the needs, wants and desires of unit owners who vacillate between wanting improved and expanded services, totally maintained buildings, grounds and streets, and also want no fee increases.

That would be a good start. Perhaps you should be the first in the newsletter. As the only member of the Board of Managers who voted “NO” to an assessment increase during the most recent budget meeting, you obviously must have a plan in mind. I’m sure every unit owner would like to know specifically how you would achieve that plan.

Regards,

2 comments:

  1. Do you think our Communications Director has a plan, or do you think she is winging it? If you do think she has a plan, can you enlighten me?

    ReplyDelete
  2. Dear "Anonymous":

    Sorry, but I cannot speak for the members of the Board of Manager. I know only what is discussed during the 'open' portion of the Association meetings and what is included in the 'official' newsletter.

    I suggest you email our Communications Director and ask her.

    Regards,

    ReplyDelete

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