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

Tuesday, April 7, 2015

COD - My $2.05 worth



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The comment was made to my previous post "Why $2.05? Most provide their two cents!" I chose that number because that's how much the board of trustees over at COD took from my pocket via taxes and gave to president Robert Breuder to fund his "golden parachute."

There are 371,252 households in School District 502. School District 502 is comprised entirely of the "Community" College of DuPage.  We each "donated" $2.05 to Breuder's exit fund.

A sarcastic thanks to those board members who spent my money for no tangible purpose and did so prior to the election for the sole purpose of circumventing the will of the electorate and the community. Those people are:

Erin Blair of Wheaton, who is Board Chair
Joseph C. Wozniak of Naperville
Allison O'Donnell of Winfield
Dianne McGuire of Naperville
Kim Savage of Darien
Nancy Svoboda of Downers Grove

A sarcastic "well done" to each of you for pushing through Breuder's "golden parachute" prior to the election. You proved where your allegiance was and it certainly wasn't to higher public education via a "community" college and the taxpayers and residents of DuPage county and those others in the district.


To Omar Escamilla, who was Student Trustee during the recent machinations, I offer my sympathy. However, I am sure you learned some things about dysfunctional boards, CEOs from hell,  and a lack of fiduciary responsibility during your tenure. I hope you put your education to good use. I and the other 371,251 households supporting the College of DuPage have paid a very high price for your education.  Those hundreds of millions of dollars of bonds we allowed the college to borrow for your education, to build a "fine dining" restaurant to compete with local establishments and a hotel? We'll be paying for those for decades. After all, they were a loan and must be repaid.


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