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, March 13, 2017

Emotional Intelligence and HOA Boards








What's Emotional Intelligence?

"People with emotional intelligence (EQ) have many characteristics that make them great employees. They have the ability to work with different personalities. They’re empathetic. They’re diffusers and have the patience to listen to all sides when resolving an issue, whether it’s with a client or between co-workers. They want to invest the time into building relationships with clients and colleagues. They are self-aware. They are curious and want to continue learning and growing."   "Ultimately, people with EQ make for great leaders, which is why it’s important to have people with EQ in your leadership pipeline....." (Note 1)

So how does EQ show up in an individual? Here are 5 signs, according to the article:
  1. They own failures.
  2. They are reflective.
  3. They are natural leaders.
  4. They focus on the “how.”
  5. They are great at resolving personnel issues.
It would seem to me that these are great traits for any board member. These traits or skills are worth developing in ourselves and in others. I would suggest they are 21st century skills.

I won't go into the details, and I would suggest the reader go to the article. Currently a subscription is not required and a link is at the end of this post.


Notes:
1. The link in "Note 2" provides the source of the quote. "How to Tell if a Potential Hire Has Emotional Intelligence" WSJ March 12, 2017, by Tom Gimbel (@TomGimbel).Mr. Gimbel is founder & CEO of LaSalle Network, a national staffing and recruiting firm headquartered in Chicago.

2.  Here is the link to the original article, which will open in a new window:
http://blogs.wsj.com/experts/2017/03/12/how-to-tell-if-a-potential-hire-has-emotional-intelligence/


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