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, July 13, 2014

COD - "After media pressure, thankfully, some sanity finally resulted."


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The Following video was published on Jun 30, 2014
"Adam Andrzejewski lays out the College of DuPage Pay-To-Play With Governor Quinn- election votes for $20 million Construction Grant? The public comment at a board of trustees meeting is based in full on an email from President Robert Breuder to trustees detailing a political strategy to concoct a scheme to secure funding for an un-needed project."





This is the third of three posts about how COD lost the opportunity for $20 million in state funding. 




A series of articles on July 1-3 at the Daily Herald provided the initial insights into the recently exposed attempt by the College of DuPage to get state funds through misrepresentation. Links to the article and to the "For the Good of Illinois" website are included in this post. 

The Daily Herald article states: 

"The College of DuPage won't receive a $20 million state construction grant now that Gov. Pat Quinn has seen an email detailing President Robert Breuder's strategy to secure the long-promised funding for the Glen Ellyn school. "

Here are excerpted statements made by the Governor and his spokesman on the decision to withhold the funds: 

Apparently the funds were withheld because 
"The tactics used by the president [Robert Breuder] in his email" and "We are suspending the possibility that they can submit a project for that funding." "We have no tolerance for any misrepresentation of how funds will be used," said David Blanchette, a spokesman for the governor.
According to the Herald article "Blanchette said $25 million in capital funds were appropriated for COD in 2009 by the state legislature as part of the Illinois Jobs Now! program. To date, $5 million has been obligated toward the demolition of structures on the Glen Ellyn campus."
The Herald also revealed that "Breuder's email was made public last week by an Elmhurst-based government watchdog group that obtained it through a Freedom of Information Act request.
The group, For the Good of Illinois, accused Breuder of coming up with an "unplanned" classroom building proposal to help secure the $20 million.  [Adam Andrzejewski is chairman of For the Good of Illinois]. According to the article Andrzejewski said "Breuder pressured the COD board to fast track the classroom project to obtain the $20 million state grant."
"The COD trustees quite obviously have a president whose leadership style and public actions are very troubling," Andrzejewski said. "The trustees need to reassert control of school governance."
He said Quinn "made the right call" by deciding to withhold the grant money.
"Until today, Dr. Breuder's entire strategy was coming to fruition in real-time," Andrzejewski said. "The only piece missing was Governor Quinn granting the money. After media pressure, thankfully, some sanity finally resulted."
Clicking will open a  New Window> Daily Herald July 3 article - COD


Clicking will open a  New Window> For the Good of Illinois Website




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