Your Questions from the Annual Meeting
We only had three homeowners submit questions in writing at the annual meeting. Here are those questions and answers.
1. Can we do away with the pool and stop putting money into a virtual “black hole”?
The pool is enjoyed by many members and is a nice addition to the neighborhood. Our largest cost right now is mowing and watering our grass. Cost 31k last year not including the water. Second biggest cost is property manager at about 25k per year. We are in the process of cutting all major costs including pool maint. by re-bidding all contracts.
2. Is the property manager paying herself for half of the assessments before they are collected?
No, assessments all go to the HOA. The property manager currently collects half of any late fees.
3. Will the results of the audit be published to the homeowners?
Absolutely.
4. Why does the board not ratify all expenses the property manager pays?
The board does oversee the expenses of the property manager and will be revisiting the granularity of our expense management.
5. Why is it that the president acts as if an audit is such an expense that was “saved” by previous boards when we are spending thousands of dollars on the pool?
The pool is an amenity that the board is required to maintain. We are currently in the process of getting an audit for the 2007 financials.
6. Please set up a website that includes meeting minutes, budgets, major issues such as property sales, etc.
The board will be posting this information to this website and we are in the process of creating a forum where homeowners can voice their concerns. If you have any suggestions of what you’d like to see on the website, please leave a comment.
7. Please explain why the 2008 homeowner’s assessments is budgeted for $89,600 – which is less than the 2007 budget assessments of $92,872 – even though our assessments dues have increased this past year.
The budget lacked the assessment due from the developers and 2008 budget will be amended to reflect those figures.
