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

Friday, November 10, 2017

Sometimes Twice is the Charm - Budget Passed


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BLMH had the second election last night. This time we did achieve a quorum and so the candidates were elected. This allowed the owners to make the decision, rather than be a board of appointees. We now have seven board members, the first time in a few years.

About 20 owners attended the meeting. We didn't repeat the presentations for the first "annual meeting" because this was a two part meeting with the second part the normal business monthly meeting. So any owner who didn't attend the September annual meeting missed those presentations.

I'm pleased that the owners decided to vote in sufficient numbers to have a valid election. Frustrating? Yes. This redo added a lot of work at a time that the association is attempting to finalize budgets, outdoor maintenance and repairs, and plan for 2018. As I stated in an earlier post, it must be wonderful to live in La-La Land; that's a magical place where people simply show up to do the work as volunteers, while the majority pays their fees and sits back. Of course, it could be worse. The vast majority of our owners are financially responsible and do pay the monthly fees in a timely manner. So we can be thankful for that. 

As part of the business meeting the proposed budget was passed. Prior to that owners were asked if they had any comments and there were none from the floor.

I've begun working on project lists, task agendas and financial plans for 2018.



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