11-22-2016, 06:25 AM
Thanks mermaid and stratele, after seeing your posts I checked with an acquaintance and sure enough, you are both right. But here is a little more detail; they raised the maintenance fees another 10% this year after last years $10 increase. The 10% = $28.50 + the $10, that is now $38.50 in 2 successive years. $313.50 a year for the worst roads since I have lived here.
Apparently, the finance committee had just voted and approved to advice the board on a $5 road maintenance increase even though it was not very clear to some on the committee, whether an increase was necessary due to the fact that the last meeting was only the second meeting they have had this fiscal year (which started July 1st). A partial reason, I was told, that the committee was not clear, was that the committee has asked in both meetings to get all of the financial reports that the committee has always had and provided in the past by all of the general managers. Speaking of whom, the current manager can't even bother to go to a committee meeting to which he is a member according to the bylaws.
The financial report they need is called the "profit and loss detail report" and with out it they can not verify the other financial reports. So, the Association's membership committee is being blind sided by the board from doing their duty according to any "Generally Accepted Practices" for finances in a corporation.
Apparently the new board has not a clue what they were asked to vote on neither the role of a membership committee. I heard some on the board had said "they don't need it", pure ignorance! It looks like to me from what was explained taking place at last weeks board meeting, that none of them have a grasp as to the true purpose of the finance committee or of the board. It sounded like they only considered hypothetical situations in which the association might need money since none of them, including the new treasurer, knows the current true situation with the associations accounting. As any one who has ever been involved with this type of corporation financial accounting knows, it is very complicated and this particular board looks to be very "challenged" in understanding them.
It appears they think the Association membership exists to service them, instead of the other way around. You mix a dash of ignorance with a dash of hubris what is the usual result of that cocktail?
In a nut shell, it appears that no one, including the new treasurer, the board and most importantly, the Association has very little idea what is going on with the money. However, I bet 1 director and her co-conspirator, the GM, knows.
Apparently, the finance committee had just voted and approved to advice the board on a $5 road maintenance increase even though it was not very clear to some on the committee, whether an increase was necessary due to the fact that the last meeting was only the second meeting they have had this fiscal year (which started July 1st). A partial reason, I was told, that the committee was not clear, was that the committee has asked in both meetings to get all of the financial reports that the committee has always had and provided in the past by all of the general managers. Speaking of whom, the current manager can't even bother to go to a committee meeting to which he is a member according to the bylaws.
The financial report they need is called the "profit and loss detail report" and with out it they can not verify the other financial reports. So, the Association's membership committee is being blind sided by the board from doing their duty according to any "Generally Accepted Practices" for finances in a corporation.
Apparently the new board has not a clue what they were asked to vote on neither the role of a membership committee. I heard some on the board had said "they don't need it", pure ignorance! It looks like to me from what was explained taking place at last weeks board meeting, that none of them have a grasp as to the true purpose of the finance committee or of the board. It sounded like they only considered hypothetical situations in which the association might need money since none of them, including the new treasurer, knows the current true situation with the associations accounting. As any one who has ever been involved with this type of corporation financial accounting knows, it is very complicated and this particular board looks to be very "challenged" in understanding them.
It appears they think the Association membership exists to service them, instead of the other way around. You mix a dash of ignorance with a dash of hubris what is the usual result of that cocktail?
In a nut shell, it appears that no one, including the new treasurer, the board and most importantly, the Association has very little idea what is going on with the money. However, I bet 1 director and her co-conspirator, the GM, knows.