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, May 7, 2019

We need a Meeting Agenda


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The association has not provided the owners with a meeting agenda for Thursday's open meeting.  Currently the April, 2019 meeting agenda is posted on the association website.

Owners are to be notified of the meeting in accordance with the Illinois Condominium Act.  Such notice must be posted at least 48 hours prior to the meeting as follows. Note that the Association has decided to post the notice of the meeting via the monthly assessment bill to each owner. However, that doesn't provide owners with an agenda, and it has been the method of the association to post the agenda at the association website.

http://www.blmh.org/

Here is the pertinent text of the (765 ILCS 605/) Condominium Property Act:

(765 ILCS 605/18) (from Ch. 30, par. 318) 
    Sec. 18 (a)(9)(B)
   "(E) that notice of every meeting of the board of
    
managers shall be posted in entranceways, elevators, or other conspicuous places in the condominium at least 48 hours prior to the meeting of the board of managers except where there is no common entranceway for 7 or more units, the board of managers may designate one or more locations in the proximity of these units where the notices of meetings shall be posted; that notice of every meeting of the board of managers shall also be given at least 48 hours prior to the meeting, or such longer notice as this Act may separately require, to: (i) each unit owner who has provided the association with written authorization to conduct business by acceptable technological means, and (ii) to the extent that the condominium instruments of an association require, to each other unit owner, as required by subsection (f) of Section 18.8, by mail or delivery, and that no other notice of a meeting of the board of managers need be given to any unit owner......"

I've alerted management to this via email.  Apparently no one on the current board is monitoring this situation.....


Here's the image of the beginning of the currently posted agenda on the official association website. The agenda is for April 11:

BRIARCLIFFE LAKES MANOR HOMES CONDOMINIUM ASSOCIATION BOARD MEETING AGENDA
April 11, 2019
Wheaton Community Center 1777 S. Blanchard
7:00 pm


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