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

Tuesday, August 14, 2018

My final year on the board, Part I


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I've been extraordinarily busy for the last few months. At this association we began projects early this year and accellerated two. I'd like to point out that I run a viable business, am the president of a condo board and yes, I do have a life to lead. So I like to kayak, etc. in my "free time". Life is short is my motto. So it is so very important to treat each day as the wonderful gift it is.

In 2018 and with the assistance of two board members we accellerated several projects. This decision was made fully with the recognition that with an improving economy our costs would most likely go up. This was fully discussed with the entire board in open session. So we did some work which could have been deferred until 2019 in this year. That did increase my work load. It also reduces the work load in 2019.

Never fear, our association has a recognized list of additional work to do in 2019. Never fear, we have the reserves to do this.

We currently have a full (7 person) board but there are a variety of positions taken by those on that board. We have a working board and some board members might find themselves pushed to perform.  I'm aware that some may simply joined to get a notch in their belt on LinkedIn. When I go to monthly meetings it becomes readily apparent that not everyone on the board is comfortable and not everyone is prepared. Some clearly have a personal position to run. Which is why I sometimes I feel I'm looking at deer in the headlights. But everyone can argue their position, no matter how ill-equipped or how ill-prepared, and they do. It must be wonderful to be clueless! Or to assume that no one is really aware of these machinations!

I haven't posted recently because of the amount of work and also because I have been in a quandary about my future here. I decided I will no longer be on the board, effective September 28, 2018.  I reached that decision on August 12, 2018. I immediately informed the entire board. This decision was cemented by the board meeting of August 9. I allowed several days for the charge of that meeting to dissipate. I then made a rational and unemotional decision. I issued several emails to the board and I began the work of completing.

I have a lot of completion work to do. I've written about 1875 words for the newsletter. What is actually printed will depend upon others on the board, some of whom loath making committments via the newsletter. I always parse my articles to allow others to publish. With an election in September some members of the board may show up and provide an article simply because of the election. We do have politicians on the board of BLMH.



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