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, November 6, 2017

Thank You, Mike Madigan!



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Some Recent News Headlines:

"Since January 2007, the labor force in Illinois has decreased by 300,000. "(US Department of Labor).
"Reeder: Illinois is losing jobs and people. Why make the problem worse with a tax hike?.....The politicians got us into this mess by spending too much and making grandiose promises that the state just couldn't afford. Now, they want you and me to pay for their irresponsibility." (Chicago Tribune).

"Illinois, once a jobs magnet, is losing its pull to lure firms, workers.....Illinois, once an industrial leader, has become an afterthought to captains of industry planning to make sizable investments of new factories or research facilities. Wisconsin, it seems, is the new Illinois. Before long, many of you will be commuting north to work as companies with long pedigrees here head for the border or new firms plant their roots in Wisconsin within striking distance of Illinois." (Lake County-News-Sun).

"Illinois loses 3,000 manufacturing jobs in August, worst since recession...In one month, Illinois manufacturing sector lost all of the jobs it had gained in the last 12 months, marking one of the worst employment reports for the state's lagging economy since the recession. A preliminary report released by the Illinois Department of Employment Security shows August saw 3,000 lost manufacturing jobs. This loss of employment is the worst month in Illinois since fall of 2009. The unemployment rate also rose to 5 percent." (Illinois News Network)

Illinois hearing on why state lost Foxconn deal not expected to talk state business climate....There’s a difference of opinion on why Illinois loses businesses to other states, but that won’t be the focus of a hearing next week to evaluate why Illinois lost tech manufacturer Foxconn’s North America location to Wisconsin. A House Government Transparency Committee hearing originally scheduled for last week when lawmakers were in Springfield for veto session had the subject line, “Why Illinois lost the Foxconn deal.” “With the budget that was passed, it’s more borrowing, more spending, more taxing,” Halbrook said. “It didn’t do anything to help the business climate to grow jobs, to encourage new employers to come in and hire more people.”" (Illinois News Network)




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