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, October 13, 2019

HOA Meeting October 2019


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Well, we had an "Annual Meeting" in September and the board was not elected due to a failure to achieve a quorum of owners. According to management a newly scheduled election would be in November. There are two agendas for October on the official HOA website. This is the page which one sees on going to the site. Apparently the third and fourth lines (underlined by me) are in error because the actual agenda on the "Association Board - Meeting Agendas" Tab does not have those lines.

I asked management via email what "board" would be attending as none had been elected. I asked via two different emails:
My question: "Who is on the board and signing checks?"
Management's response: "I will pass this along to the Board for next weeks meeting."

I did not attend the October meeting.  Why bother?


BRIARCLIFFE LAKES MANOR HOMES CONDOMINIUM ASSOCIATION BOARD MEETING AGENDA

ANNUAL MEETING OF THE
BRIARCLIFFE LAKES MANOR HOMES CONDOMINIUM ASSOCIATION 
October 10, 2019 7:00pm Wheaton Community Center 1777 S. Blanchard




I. Approval of the September 12, 2019 Meeting Minutes

II. Treasurer's Report 

III. Work Orders

IV. Sales Report

V. Correspondence
        a. 1 architectural request
        b. 6 emails from owners 

VI. Old Business
        a. Fireplace legal lawsuit (update)
        b. Reserve study (pending)

VII. New Business (action items)
        a. Landscaping proposals (tree pruning, removals, mapping)
        b. Proposed 2020 budget

VIII. Committee Reports
        a. Rules & Regulations 
        b. Architectural & Maintenance
        c. Newsletter
        d. Landscaping 
        e. Welcome
        f. Water Main

IX. Homeowners' Comments
X. Executive Session 
XI. Adjournment

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