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
Showing posts with label Costs. Show all posts
Showing posts with label Costs. Show all posts

Thursday, January 19, 2012

Announced City Water Rate Increase

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Chicago announced a 25% water rate increase to take effect in 2012. This will be reflected in our monthly water bills, because Wheaton gets its water from Chicago. However, it was reported that both water and sewer rates will increase. 

On Monday, January 2 the Wheaton City Council passed this vote, as reported in a local news outlet:

“Wheaton residents will start the new year with a 30 percent increase to their water and sewer rates in their next bill.

In a 6-1 vote Monday night, the Wheaton City Council approved the hike from $2.65 to $3.45 per 100 cubic feet of water. The combined rate for water and sewer services will be $5.50 per 100 cubic feet of water used. According to city documents, the average Wheaton customer’s water rate will increase by $9.60 per month, based on an average use of 9,000 gallons per month.”

It was also reported that the commission is expected to increase its rates by 20 percent in 2013, 18 percent in 2014, and 17 percent in 2015. "These increases are purported to be necessary to pay off a $70 million debt."

Well, I got my personal water bill yesterday and the rate for water did increase by 30%. So my water bill for 600 cubic feet was about $10 more than the previous month. 


Wednesday, March 25, 2009

Update to Nicor Gas on the "Budget Plan"

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I have received my latest Nicor Gas bill, for the period February 17 to March 19. I now have a credit of $0.01!

So Nicor has re-calculated my "budget" and it has increased to $35.00 per month, from $32.00 per month. Using the new information I have updated my post:
nicor-gas-on-budget-plan

Tuesday, September 23, 2008

The Cost of Our Utilities Over a Period of 5 Years

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Here's a link to a blog I posted recently which gives some idea of our utility costs.

http://letmethinkaboutthis.blogspot.com/2008/09/cost-of-our-utilities-over-period-of-5.html

Friday, September 19, 2008

Methods for Association to Reduce Costs

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One of the ongoing issues for unit owners is the relentless nature of annual assessment increases. These are necesary to combat the ever increasing costs of energy, for example. In this year alone, electricity is supposed to increase 6-1/2%.

The association has high efficiency lighting, but there should be some other great ideas out there. If you have any suggestions, let me know.

Here are a few "energy and utility" cost saving methods that might be appropriate for consideraton. Of course, there are other areas of operation in which savings might be achieved.

Solar Power Roof Fans.
Variable Speed AC Drive (VS) for stream pumps.
Ban on use of association water for cleaning automobiles, etc.
Energy Credits applied to Roof Projects and improved insulation? Note (1).

I am certain there are other areas that we could address, such as ongoing maintenance items.

Notes and Comments:
(1) This is added after the presidential election. President-elect Obama has stated that he wants to promote energy initiatives. It's too early to determine what will occur, but there may be incentives applicable to our roofing project.