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, February 16, 2018

Water Metering Charges


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You might not be aware of the current water metering charges. These have increased in recent years as the City of Wheaton moves water infrastructure costs as well as water costs onto the water bills. This is a good approach, similar to what our HOA does with its capital costs. However, this has caused significant water charge increases in the last 15 years.

To be fair, some of the cost increases are attributable to Chicago which provides the water. Other increases are attributable to decreased revenue sharing the by State of Illinois. Communities are being squeezed as the state borrows money and diverts tax income to the bond holders.

The following is the current minimum billing, even if there is zero water usage. I was told by the city that the "usage" is increased as necessary to assure a minimum $20.69 monthly bill.


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