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, September 27, 2016

Projects and outdoor work coming to a close



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Well, it's that time of the year. We're nearly into October and so there is some time pressure to complete all of the outdoor tasks before freezing weather becomes the normal here.

The final phase of the roofing project which began in 2003 is moving forward. We are dealing with one of the remaining standing water areas on the property. All I can say is, this property is nearly 40 years old. Are some things really worth the wait?

We're also replacing several driveways. The very large landscaping renovation project to deal with the consequences of the removal of more than 100 trees is scheduled to move forward this fall.

I did give a unique presentation of the finances of the association at the annual meeting. It included a video I prepared and took about 20 minutes. Each of the board members also gave a very good presentation. It is too bad that so few owners attended the meeting. But never fear, when their personal agenda buttons are pressed they will band together and come to a meeting.

I've pointed out to others at the association that low attendance is the consequence of several factors. Many owners view their condo as an apartment, the board is expected to make things work for them and because most things seem adequate, there is really no reason to get of their duffs and come to an annual meeting, much less vote for a board.

The same people probably expect our Federal Government to take care of them. Frankly, if I were Obama I wouldn't be here for the meetings; I'd be politicking and taking care of myself. After all. that's what politicians do at the State and National level.  However, down here with the little people, and we are all little people compared to the likes of the Obamas and the Clintons, we do have to do our work. No stupid servers to be hacked in our association. Duh!

Returning to our HOA, is there cause for concern? Yes, there is. As I expressed to the motivated few who attended the annual meeting we should be concerned about the loss of expert knowledge and continuity. When owners turn their back on their association that vacuum creates an opportunity for the opportunistic. In any association there are those who promote their personal agenda to the detriment of all others. The only thing that keeps these selfish individuals from running amok in an association is the board. What happens when the self serving become the board? Look out!




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