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, September 30, 2015

HOA Board Setback



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Our HOA has had great difficulty filling board positions in recent years. We've had boards with unfilled positions. Other examples include boards with members who had difficulty performing their board duties and tasks, boards with members who had no assigned duties and board positions which were vacated after a year or two. Some boards had members which wouldn't or couldn't use email, spreadsheets and so on. We've also had boards with members who avoided creating newsletter articles or reports to owners. HOAs simply do their best with the boards which have been elected or appointed.

When owners wonder why some things don't get done, or the newsletter is the way it is, or whatever, it is because of who is on the board, the unfilled positions and the manner in which duties are distributed and performed.

This may simply be the way it is in HOA volunteer organizations.

The most recent setback? At our annual meeting, we fell back to a board with an unfilled position. Our youngest member has moved on to other duties. There will be fewer people to get the job done.

There will be consequences. This may not be of concern to some owners, who expect whoever is on the board to simply get the job done. Not my problem says the owner. Oh, yes it is.  A few years ago we had a group that was convinced this was an effortless, easy job. Just issues orders to Management and voila' the work is done. They learned the hard way that was not the way it is. Soon they were gone, using any excuse possible.

Why such difficulty in a HOA with 336 owners? I'll save that for another post.


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