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 7, 2016

The Election is Coming



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The election is coming. Are you thinking the one between the Hillary and the Donald? Yes, that will be an election of epic consequences.

However, I'm alluding to the election at our HOA.

Normally, we have fewer than 2 percent of our owners volunteer. They prefer to sit on the sidelines. Will this year be different? Who knows? We usually have one position vacant. I suspect that is the way it will be in 2017.

Yes, everyone wants a well run HOA, as long as someone else is doing the work.

It is no secret I did put my unit up for sale. We spend more than 6 months elsewhere and it won't make a lot of sense to own an unoccupied condominium. However, it could be a couple of years before we move on.
Posted by Norm R at 1:37 PM
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