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

Wednesday, December 19, 2018

Tight security and a Lawyer


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The board decided to hide behind a security guard and an attorney during the most recent association meeting.

The board made no attempt to answer any questions about the budget surplus, apparently pretending it doesn't exist.

I'll make this observation. This is the first BLMH HOA meeting where the board arranged for an attorney and a security guard to hide behind.  It makes me wonder about the mental state of one or more board members. Second, the board spent a lot of money needlessly rather than address owners who disagreed with the board position.

I did receive the "official" 2019 budget. It indicates an "approximate 1.88%" fee increase. From my experience at BLMH most owners don't pay attention to the budgets. They think of the budgets in terms of "I can (or can't) afford the proposed fee increase."

I think management is probably laughing about all of this. To quote the current president "Stupid is as stupid does."


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