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

Wednesday, December 24, 2014

Water Rate Increase January 1, 2015




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From the City of Wheaton. The cost of water will increase on January 1, 2015. How much will this cost us in 2015?

Current water rates include a monthly service charge. To quote the City of Wheaton, "water customer bills now include a service fee, which is a flat monthly charge that is based on the size of each customer’s water meter." According to Wheaton's published information, the fee for customers with meters from 5/8" to 3/4" will increase from $9.38 per month to $13.59 per month, which is about 45% more. In addition, water rates per 100 cubic foot (100 c.f.) will increase from $4.49 to $5.05 or about 12.5%.

Using the new fee and the new water rates, the bill for a customer who uses 500 c.f. per month will increase from $31.83 per month in 2014 to $38.84 per month in 2015. That's an actual increase of about 22% in 2015.

Your actual bill will be calculated by adding the usage plus the monthly service fee. Here is the published rate chart:



2015 Water rates and fees
Rate per 100 c.f. - $5.05
Meter Size
Monthly Service Fee
5/8”
$13.59
5/8” x 3/4”
$13.59
3/4”
$13.59
1”
$27.18
1 ½”
$54.35
2”
$86.96
3”
$163.06
4”
$271.76
6”
$543.53


Here is Wheaton's bulletin on the rate increase:



Water Bill Increase Begins in January

To support infrastructure improvements and to offset the increase in the amount the City of Chicago and the DuPage Water Commission will charge Wheaton for water, Wheaton’s water rate increases on Jan. 1, 2015. The rate the DuPage Water Commission charges Wheaton for water increases 17% on Jan. 1, 2015.
The water use rate will increase from $4.49 per 100 cubic feet to $5.05 per 100 cubic feet on Jan. 1. While the service fee differs based on meter size, the fee for most Wheaton customers will increase from $9.38 per month to $13.59 per month. The specific increases for each water meter size are reflected in the tables in this section of the City's website. Nearly 90% of Wheaton customers fall into the first three meter sizes (5/8-inch, 5/8-inch by ¾-inch, and 3/4-inch). The typical user’s bill, with a ¾” meter and 600 cubic feet of usage, would increase from $36.32 per month to $43.89.
For more information about water billing changes, see the City’s website atwww.wheaton.il.us/waterbill.
City of Wheaton Posted Date: 12/19/2014 2:27:09 PM

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