Money

Assets

We don’t have access to the Association’s official spreadsheets, so we simply provide information that they have made public and try to put it in context.

Based on the available data, this graph shows how the reserves have gone from about $450,000 in the middle of 2001 to less than $175,000 now. In the meantime, the HOA dues will have gone up from $180 to $314. Each increase in the dues was justified by the need to increase the reserves — something that has obviously not happened. (Click on the graph to see it bigger.) Obviously, if the dues had not been increased, the reserves would have continued to go down. E.g. the $22 dues increase last year ($240 to $262) gave the HOA more than $40,000 in additional funds. ($22 x 12 months x 168 units = $44,352)

If you are wondering why there are no more data points for the last few years; since we changed management companies in January 2005, the Meeting Minutes no longer include any numbers specifying the reserves, operating accounts, accounts receivable, etc.

Budgets

We are also in the process of providing of the annual Budget notices that are typically sent out in April. These notices may also contain information about reserve studies, the HOA’s collection policy, and the various dispute resolutions available to both owners and the Association.

• 2007