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

College of DuPage email exposes the chase for tax dollars



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This will be the first of three posts on how COD lost the opportunity for $20 million in state funding.
 


The heavy handed attempt to get these funds has been described as a "money grab." The second post will provide more information on the problem and the work by Andrzejewski who uncovered the plot.

From the Chicago Tribune July 7, 2014:

"Credit Gov. Pat Quinn for putting a stop last week to a seedy little money grab by officials at the College of DuPage. Before this episode heads to the dust bin, it's worth a few minutes to examine what it says about the use and abuse of tax dollars. The DuPage community college wanted to get $20 million that had been appropriated by the state several years ago, but never released.

Big problem: The money had been targeted for projects that the school had already completed. The school wasn't sure now how it would spend the money. But it really wanted it."

In an email that has been released, Robert Breuder the college president wrote the the COD board "I needed to identify a project that would help release our state funding......My idea: a Teaching and Learning Center. "

How did this information come to light? "Adam Andrzejewski, founder of the transparency-in-government group For The Good of Illinois, got a copy of the Breuder email through a Freedom of Information Act request. Andrzejewski, a DuPage County resident, was looking for information about the college's finances. He has questioned the college's spending habits. Apparently for good reason."

The article ends with "What this amplifies is how Illinois spends money. It doesn't spend money when it's essential. It spends money when it's there. "

For the entire article, go here:


Clicking will open a  New Window> COD Case for Tax Dollars

The full title of the article:

Use it or lose it

College of DuPage email exposes the chase for tax dollars






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