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

Thursday, June 30, 2011

Mission Statement

It's been suggested that this association have a mission statement. This, like so many other initiatives, is waiting to happen.

However, that doesn't mean we can't have a "personal" mission statement, as an owner or as a board member. Here's mine:

"I want to participate in an association that is well maintained and well managed, in a manner that all owners are treated equally and fairly and can get the best value for their investment here. When the time comes for an owner to sell their unit, they should get the highest possible price, considering the condition of their unit. "

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