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

Wharton on Leadership: Why Leaders Are Made, Not Born


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Over at the Wharton School of Business they have posted an article about Leadership. That is something all board members find themselves in a position to provide.

We sometimes think that leadership is a trait. It is something we are born with. The article is entitled "Why Leaders Are Made, Not Born".

"Inspired by her own struggles, Harvard Business School historian Nancy Koehn turned to figures from the past who overcame adversity to leave a lasting mark on civilization. She learned that true leaders are those who can forge through impossible odds with intelligence, compassion and resilience. Koehn has captured the stories of five inspiring historical figures in her book, Forged In Crisis: The Power of Courageous Leadership in Turbulent Times. They include Abraham Lincoln, who presided over the United States at a pivotal time in its young history; Frederick Douglass, an abolitionist who escaped slavery to become a writer and a statesman; Dietrich Bonhoeffer, a German clergyman who became a double agent against the Nazis; Ernest Shackleton, a polar explorer who survived a shipwreck on an ice floe; and Rachel Carson, a scientist whose work sparked the modern environmental movement. Koehn recently joined the Knowledge@Wharton show on SiriusXM channel 111 to discuss her book and why true leaders are made, not born."

Here's the link to the article:

Wharton: Why Leaders are Made, Not Born


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