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, January 8, 2020

Incomplete Minutes



"Official" Minutes of the meeting, per WWW.BLMH.org


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Our association is a not-for-profit corporation under the laws of the State of Illinois.  With the election of September 2018, a former board president who had no commitment to communication has been back in the president's seat.  Communications is now so sparse that the owners are seldom provided content information about the official association meetings.

I had to send a 15 item letter to management about this. Boards may not create separate classes of owners. In other words, it is illegal to force owners to attend monthly association meetings to get information about the goings on in the HOA.  Doing so discriminates against remote owners. Approximately 20% of our owners live off the property.

I sent a letter to management on January 6, 2020 and it included the following as Item 13:

"Hello Dave & Rosemary
Please forward this to the board and include it in the January packet. I’m looking forward to a detailed response by the board.  It was stated by the board that email addresses would be in the newsletter. That did not happen.  Why not?
Thank you!

"13. The minutes are incomplete or missing. For example, the January 2019 meeting was never published on the official website www.blmh.org.  These were approved by the board on March 14, 2019. The June 13, July 11, August 8 and September 12, 2019 Minutes contain no information regarding the financial status of the association; nor is there any indication that finances were discussed.  There are no published minutes for October and November 2019 which should have been approved by the board as of the December 2019 meeting.   I doubt if the minutes meet any standards for a non-profit corporation supposedly run by a board of fiduciaries.  The board should provide a statement of each item that was approved. For example, if finances were approved, what was actually approved? How and when did CD  rollovers occur? This is not mentioned in the “official” Minutes. Owners are the “owners” here and the board serves as representatives and fiduciaries. Owners are entitled to know the financial amounts that are being approved by the board."



Original material:  https://Briarcliffelakes.blogspot.com/






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