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, September 14, 2009

There is a Lot Going On!

This year at BLMH, occurs to me a “lost year”. After an incredibly rocky start, the new board has reduced it’s disruptive behaviors, and we now find ourselves with an awful lot to accomplish and very little time to do it. So our 2009 roofing projects are underway, the driveways which the board finally agreed were a “problem” will be redone, and even ComEd has gotten into the act and is replacing the underground power distribution system. Landscaping including the removal and planting of several trees began and a contract was let for stump grinding, which was omitted. The landscaper is now proceeding with fall plantings, fertilization and the list of projects assembled by our Landscaping Director.

I’ll be posting frequently during this and the next week regarding all of these projects, the election and my notes of the Association Meeting on September 10, 2009.

First, to get you up to speed, I’ll provide some information from the most recent Association Meeting. This post will be expanded with a more thorough and complete report in a day or so.

During the meeting, the board approved the work to replace seven driveways. These were agreed as being those in most need of repair. You will recall, this discussion began much earlier this year. Meeting disruptions, board disagreement, and other priorities and agendas on the part of our new board members, prevented the work from proceeding. But finally, that work will begin for this year. Our Architectural Director has been pressing to proceed, before asphalt plants close for the winter. Unfortunately, the “fall rush” is now underway, as many other organizations and businesses also proceed with their end of year work. I am of the opinion that our association could have saved some money if this work had been bid and awarded earlier this year, when the economy looked much bleaker and contractors were eager for work. But our Architectural Director’s arguments and appeals fell on deaf ears. Better late than never, I suppose.

The roofing projects are underway and actual roofing of one of the buildings is scheduled for this week. The second building is waiting for the arrival of the “dormer” windows.

There will be a lot of digging on the property, as ComEd installs a new underground power distribution system. The work will be accomplished with horizontal boring equipment, which will minimize the digging of our grounds. Trenching would have destroyed whole areas. Our Architectural Director has been presenting an argument about “aging infrastructure” for many months. This is another example; the power distribution system is over 30 years old and we have been experiencing more blackouts in the past few years than I think would be reasonably expected, from a distribution system that is protected from trees and similar storm related disruptions. I am sure there will be unit owners who will be relieved and there will be others who will take credit. True, our management company did write letters, various unit owners did the same and I understand the city went to bat for us.

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