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

Sunday, April 25, 2010

Imitation is the Sincerest Form of Flattery

Our Association began an upgrade of decks a few years ago. I understand the design was created by our maintenance company, although members of the former board may also have been contributors. As is the case with all things at BLMH, there were a few unit owners who considered our new patio railings to be a waste of money.

However, the board has resisted caving and continues to upgrade to the new style with the current painting cycle.

Our new railings have been copied by a nearby association! Seems someone else sees the merit of the new design.   On the other hand, one of the features which distinguished us no longer does. Ahh, the problems of attempting to be unique. There are other ways, and I'm sure our board will attempt find them. Renters at association meetings? Flea markets this summer? Who knows what the future holds?

1 comment:

  1. Sorry Norm, it is us who copied the other, and also copied the eyebrow and the shed roof.

    ReplyDelete

Please leave a comment!

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