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, September 4, 2017

Video: A detailed look at HOA budgets, with real numbers and valid concerns



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This post provides a glimpse into the finances of our Association. It provides insights into the budgets and the problems of budgeting. It includes a short video.

Sit back and enjoy the show.

As I write this the annual HOA election is approaching. With three open positions it will be interesting to see who steps up to be a board member. In this HOA, there is a real lack of interest in doing so. About a half of the owners vote, and about a third attend the annual meeting. Will this year be different?





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