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

Sunday, September 16, 2018

Final Board Meeting as President



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The final board meeting as president came and went. It was attended by five board members and two former board members. One spectator asked me if I would reconsider running for the board of 2019.  Two board members were unable to attend.

I've spent several days following up on loose ends, and getting ready for the annual meeting on the 27th. I dusted off my 2016 video and have been working on an update to that presentation. It's difficult to say what needs to be said in only 5 minutes.

Here's the summary video for my annual meeting presentation of 2016. That was a longer presentation.  [Note: This is not a video of the presentation I made to the owners and to the board in September 2016.  This is a graphic depiction of the data I presented during that meeting, with voice-over. On October 11 it came to my attention that a micromanaging control freak on the current board is concerned about the wealth of information which I possess and that I might put it out on the web from time to time.  Frankly, the board of 2019 has much larger and more important things to deal with, but when micromanagers rule, well, they tend to invent issues and then deal with resulting trivia!]

In fact, this video was also prepared and published in accordance with this subsequent blog post:

Creating a Smooth Board Transition in a HOA


The treasurer and I have honed the finances through August with management assistance. I've worked on the projections for project completions and the most likely reserve funding level as of December 31, 2018.

There's a lot to talk about. Hope I won't be wasting my time or anyone else's for that matter. As of Midnight September 27th my board commitment of eight years will be complete.


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