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

Monday, August 22, 2016

It is that time of year for elections at BLMH


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Once each year our HOA holds elections for the board. I'm currently the association president, and I will run again for office. Why not make a contribution for as long as I am here? If the owners choose otherwise, that's their prerogative and it will free me up to pursue other commitments.

I prepared my "Candidates Form" and sent it to management. My form is a mission statement. I have specific goals:

"NAME: Norman _____________  BLMH ADDRESS: _______________

QUALIFICATIONS: Purchased (closed) my unit in February 2002. Served on the board November 2010 to present. Proven track record. Current president of the BLMH board and also served as Architecture & Maintenance director. I have expert knowledge of this association, and of business operations as founder, president and systems engineer for several high tech industrial automation firms from 1978 to present. Expanded these businesses during severe recessions and never laid off or docked the wages of a single employee. Received extensive communications, leadership and human potential training and trained the trainers. As a volunteer I am the recipient of the BSA District Award of Merit “for rendering service of an outstanding nature at the district level; this is the highest award at the district level” and I successfully completed Wood Badge. Currently I am also a published and paid free lance writer (on retainer) on matters of personal finance, retirement planning and investment. I am an entrepreneurial case study in a published book on personal financial planning. I am an advocate of continuous learning and personal improvement.

Since 2010 I advocated responsible, appropriate and necessary fees which have allowed the work achieved to date and maintained reserves, currently above $1 million. I voted for the recent, lower fee increases using extensive fact based financial analysis of the current, changing situation while acknowledging 30 year future projections with condition analysis. This includes frequent condition surveys. I converted problems into opportunities, spearheaded or reactivated numerous programs and worked with or on the teams that got the job done, despite some great difficulties. I practiced proactive leadership to deal with the fireplace issue and liaised with the city on this matter. I realigned priorities and openly encourage others to join the board and committees. I prepared the “newsletter” for about 5 years, which expanded with responsible, concise articles on association finance, procedures, priorities, planning, maintenance and projects. Projects completed included the replacement of Lakecliffe with a street engineered for 30+ years of service. Other projects included the proactive replacement of about 300 feet of water mains, stream repairs, excess soil removal with sod installation, substantial rain water handling improvements throughout the property and as part of the roofing project and others specifically designed to handle standing water, remediate muddy areas and so on. The roofing project will be completed in 2016; about 70% of the roofs were completed in 6 years. Replaced numerous garage floors, decks, patios, driveways, portions of walks, bridges, etc. Documented and published the extensive issues with surrounding COD and Wheaton storm water systems.

POLICIES/OBJECTIVES: I am in favor of reasonable and appropriate fees using realistic and fact based knowledge of the condition of the infrastructure of the entire association, while acknowledging the value of our units and the financial impact of fees on our owners. I advocate creative solutions to keep fees as low as possible today and in the future. Expand the owner participation recognizing that these are volunteer positions and we all have other things to do, and I encourage all including younger people to join the board and committees and strengthen our community. We each do make a difference. I want to expand the possibilities for this association. I advocate the expanded use of technology in our association and improved communications. I want to maintain the grounds and streams, establish priorities, improve our planning, preparation, project management and cost accounting. Continue frequent reserve study updates recognizing the extensive work that has been done. Maintain continuity of maintenance and replacement programs and avoid suspending or stopping them; it is so very important to maintain momentum because incompletions will accrue and will become costly breakdowns for future owners to deal with next year and beyond. I want to strengthen our liaison with all professionals including with management and our contractors. Use engineering professionals to solve long term issues and realign priorities. Improve our liaison with the city, recognizing that we are at least 1.25%of the city population.

TIME CONFLICTS (working/retired, etc.): I am 70 years of age and I currently work part time and I do have other commitments. I also travel extensively, yet I met or exceeded all objectives and requirements for a board member 2010 to date."


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