12/18/2018
HOA BUDGET
I have been looking over the budget for which our HOA spents our money. I am completely shocked and am surprised more of us aren't concerned. Let me explain. Our HOA receives approximately $450,000 - 470,000 in funds from us, yet our monthly assessments are going up. So i decided to dig into the budget....
Just a little cap of their descriptions of budget and money expected to pay out.
61020 Onsite Manager $90,848
61140 Management Services $$38,950
62500 Misc Expenses $10,000
62501 Onsite Misc Expenses $10,000
That is a total of $149,798 for just NRP, Onsite Manager (19Hrs Week when shows up) and administrative expenses for that we already pay for... I am literally sick to my stomach, what a waste of our financial funds. I believe we could easily get a management company for about $50,000 - $60,000 saving us homeowners tons of money. We are also paying in categories 62500 & 62501 administrative expenses/onsite misc expenses including Schedule A expenses (Which do not exist anymore for employees - unreimbursed employee expenses- such as mileage, personal expenses). Other expenses such as paper, toner, certified mailings, office supplies, etc is very much expected, but we shouldn't hide money paid to management for any reasons in these categories especially if their job duties are included in their employment agreement and duties expected. I will leave the legal fees alone due to she does do more than attend meetings, she negotiates contracts, looks over legal issues, collections, and etc. For a retainer that may actually be suitable for such 24/7 yearly legal help. Just in administrative fees we could save over $60,000 yearly. If that doesn't wake everyone up to get involved, I do not know what will.
Also, I see there is not late fees accounted in our budget, I know I have been late a few times, so where did my late fee payments go if they are not in this budget as being received? I know others have been or will be late as well, this is interesting....
Also, Violations show $0 as well, where is the income received fro violations, fines etc being put or accounted....Interesting again!
Also N2 assessments show 0 income??? But yet assessment schedule shows they paid $58.30 per unit at 60 units, where is the income for N2 at? $3498?
So many questions? with little to no answers! We need to find out why are money is being wasted...Get involved, Sign your Proxy to a neighbor so they can vote for you if you don't want to. Get the control out of the hand of the ones abusing it. Make a difference in your neighborhood for the neighborhood.
