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, June 10, 2015

Water Main Finale


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The water mains were completed, and the one length that needed to be "sanitized" passed the city inspectors.

Isn't it wonderful when the residents pay for all of this infrastructure while the city of Wheaton collects the taxes and fees for permits? You betcha!  Here's a trick question. Do you think the city requires its water or maintenance department to take out a permit and pay a fee each and every time a fire hydrant is replaced? Yet they do in a HOA. Yep, it's all about collecting fees. The city is feeling the pinch as the State of Illinois, aka State of Disaster, aka State of Madigan goes through the throes of its financial death.

I'll probably run a slide show at the HOA meeting tomorrow, so most of the board which was elsewhere for most of this project is kept fully informed.

That's not a criticism. It's a statement of reality. We all have other things to do, and for about 97% of the owners, it is about avoiding HOA meetings, and for about 10% of the HOA owners, it is about avoiding paying their HOA fees.

Isn't life wonderful?


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