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Post by BagLady on Nov 23, 2013 14:59:32 GMT -5
The Budget Forum and Auditor/Town H all Meeting is scheduled for Dec 11 at 9am. Toneesha will represent S Inc.
Which raises a question as to why SLohA's very serious financial business seems to have turned over to S Inc's bookkeeper. There are questions that the principal of the firm that has contracted with SLohA should be available to answer. Not an accounting employee. M H, S Inc's General Manager attended last year. This year it's the bookkeeper. We are being handled and handed off to junior employees.
BOD has posted another agenda on the unreadable bulletin boards that suggest that a 2015 budget will be discussed and discounts discontinued. This was described to me by someone who could actually read off the bulletin board. I will post it when they are posted on CHUG.
Anyone who attends should definately record this; it is bound to be an event to remember! I do not intend to go for the sake of my sanity but will post the audio of the meeting on this forum.
Discounts? You mean like the "Buy Down" using the $100K Slushy Fund (originally set aside for parkwide internet) and reduced contributions to Reserves? That Discount? (Boy, did S Inc ever hate that term!)
I wonder if the proposed budget will be made available PRIOR to the Budget Forum. If not, that might suggest simple lack of preparation or that MANBOD does not want anyone to have any advance notice to understand the proposed budget or ask relevant questions.
Holy Cow! People might start paying attention to what is going on in here because it involves MONEY.
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Post by Show Me the Money on Nov 23, 2013 15:47:39 GMT -5
Since the Treasurer has stated (on BOD Agenda) that the 2015 Budget REQUIRES the repeal of the discount then I would assume that he has all the facts and figures on the spending, shifting of accounts including where the $78,600 extra dollars are needed to be able to keep spending in the manner they are with todays funds.
I sure hope he has his act together and can produce the facts and figures we all are entitled to .
I would also assume that they have tried to cut some items on frivolous spending, pay increases , Arts Golf Books ($2,70) ,contractor clean up, monthly Petty Cash and so on . Maybe Employees could ''donate'' with a pay decrease of 10 or 20 percent to help us out in our dire situation .
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Post by Anonymous Person on Nov 23, 2013 16:00:00 GMT -5
Since the Treasurer has stated (on BOD Agenda) that the 2015 Budget REQUIRES the repeal of the discount then I would assume that he has all the facts and figures on the spending, shifting of accounts including where the $78,600 extra dollars are needed to be able to keep spending in the manner they are with todays funds. I sure hope he has his act together and can produce the facts and figures we all are entitled to . I would also assume that they have tried to cut some items on frivolous spending, pay increases , Arts Golf Books ($2,70) ,contractor clean up, monthly Petty Cash and so on . Maybe Employees could ''donate'' with a pay decrease of 10 or 20 percent to help us out in our dire situation . Actually, the purchase of "Art's Golf Book" from Outdoor Life Publishing Co. was listed in the cash disbursement record from either June or July, 2013 for around $270.00--Two-Hundred, Seventy Dollars paid . |
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Post by Dick Tracy on Nov 24, 2013 5:00:30 GMT -5
Boy-O, Boy... I sure wish I was a retired CPA, then I may know which questions to ask, to get some straight answers. I am in the Dark when it comes to accounting procedures..
I am a Doubting Thomas, I do not Trust them. If someone or a group is not open, with me, it raise a red flag. What are they hiding and why ?
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Post by BagLady on Nov 24, 2013 14:52:17 GMT -5
If the discounts are repealed, that should result in a budget reduction of $100K--the amount of the Slush Fund re-funded in last year's budget to continue to fund the lowered assessment fee. As you recall, the $100K is a Contingency Fund (Slush Fund) does not have a "home" with regard to anticipated expenditures. Theoretically, there should have been nothing charged to it if the budget was well-constructed and spending adhered to by MANBOD. Originally, it's only purpose was to underwrite the assessment fee and keep it low so that could curry favor with owners.
Are we to assume that MANBOD intends to put this $100K in the budget again for 2015 AND add another $78,600? If the discount is repealed, so should the funding that made the discount possible. Unless...
...the Contingency Fund has been spent on Operating costs.
Owners need to know what has been charged to the Slush Fund, because that might mean that the Actual amount needed to fund Actual expenses is $178,600--not just $78,600 extra dollars. This would be shocking--SLohA's Operating budget (Admin correction: Administrative/Office) was $166K in 2010 and looks like it has expanded to more than DOUBLE that for 2014-15. This in our current economic climate where the economy is poking along at 2% annual growth rate!
IMO, the assessment fee is already way too high for the services we get. SLohA does not need to fund a Contingency Account. Continuing to fund a Contingency Account is an open invitation to spend flagrantly, as we have witnessed these past 2 years.
The Bylaws give the BOD the authority it needs and, in fact, --the duty-- to attend to any urgent project needs of the Association's common property without consulting membership to the tune of $50K. The honey pot is unlimited with regard to emergency maintenance repairs.
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Post by Dick Tracy on Nov 24, 2013 17:26:58 GMT -5
Lets Face It... They are most likely way over Budget on The New Annex Bldg. and The New Pier. Why else would these 2 expenses be on The Club Donation List.
My hope is in a few days we may have some answers. But my expectations are low. We will see... ;-)
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Post by Dick Tracy on Nov 24, 2013 17:33:06 GMT -5
The Owners need to demand the proposed Budget Papers, before the Town H all Meeting. It needs to be looked at in Detail, before the Meeting, Not at The Meeting..... Please People ask The Front Office for Copies of The Proposed 2014/2015 Budget..... 
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Post by Dick Tracy on Nov 24, 2013 17:52:05 GMT -5
If the we are Over Budget. Maybe the BOD is moving Funds around to Pay Bills, just maybe that is why the BOD has been making Motions/& Voting at the recent BOD Meetings to Pay Certain Bills.. Just a Thought...
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Post by BagLady on Nov 25, 2013 5:12:11 GMT -5
The LAW requires the proposed budget (as well as the ballot) to be provided In Advance of scheduling the Town H all meeting.
Redbook
Bylaws
Article VII Finance
Section 4
Once again, MANBOD is doing its own thing. The Town H all meeting has been scheduled BEFORE the distribution of the ballot materials and there is no proposed budget or ballot available to owners.
When is this paid professional "LCAM" going to obey our laws? (Sidenote: IT has a CAM license. Rarely, a CAM license holder will refer to self as LCAM for reasons unknown, but the license name is CAM-Community Association Manager- and the license holder should designate the license name when signing official business documents.)
If an owner should have the audacity to cH allenge MANBOD, guess what the answer is likely to be!
Go ahead..guess!
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Post by Admin on Dec 2, 2013 17:15:03 GMT -5
STILL no Proposed Budget available to look over in preparation for the meeting in a little over a week.
What's the holdup? BOD announced the $100 assessment increase almost two weeks ago so it must have had the budget done.
Perhaps they intend to hand it out at the door as people walk into the Clubhouse?
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Post by Nunsee Pignosy on Dec 2, 2013 17:44:12 GMT -5
Just like the ObamaCare Bill "You have to approve it before you get to read it "
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Anonymous Environmentalist
Guest
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Post by Anonymous Environmentalist on Dec 3, 2013 13:02:24 GMT -5
Just like the ObamaCare Bill "You have to approve it before you get to read it " Nazi Pignosy--screw that--we want to know what's in it before we vote on it; and they CANNOT do that. Our SLR leaders act like just like our present day government in Washington; they probably would love for it to be the same as the ACA bill--in which case--everyone STILL should do just like another famous Nunsee: "JUST SAY NO!" V O T E "N O" O N T H E U P C O M I N G B U D G E T F O R 2 0 1 4 - 2 0 1 5, O R R. I. P. '14-'15 B U D G E T ! ! ! |
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Post by Admin on Dec 4, 2013 5:45:57 GMT -5
From CHUG
Announcement Date: 11/23/2013 Seq: 1
ATTENTION SLohA OWNERS..
YOUR BUDGET FORUM AND TOWN H all MEETING IS SCHEDULED FOR WEDNESDAY, DECEMBER 11, 2013
AT 9:00 A.M. IN THE CLUBHOUSE.
GUESTS WILL INCLUDE Toneesha Shrodr FROM
Stmbug Ixx, INC.
(YOUR MANAGEMENT COMPANY)
AND
DWIGHT REEVES FROM
BUNTING, TRIPP, & INGLEY, LLP
(YOUR AUDITORS)
HOPE TO SEE YOU ALL THERE!
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Post by Anon Guest Person on Dec 4, 2013 10:34:11 GMT -5
The Budget Forum and Auditor/Town H all Meeting is scheduled for Dec 11 at 9am. Toneesha will represent S Inc. Which raises a question as to why SLohA's very serious financial business seems to have turned over to S Inc's bookkeeper. There are questions that the principal of the firm that has contracted with SLohA should be available to answer. Not an accounting employee. M H, S Inc's General Manager attended last year. This year it's the bookkeeper. We are being handled and handed off to junior employees. BOD has posted another agenda on the unreadable bulletin boards that suggest that a 2015 budget will be discussed and discounts discontinued. This was described to me by someone who could actually read off the bulletin board. I will post it when they are posted on CHUG. Anyone who attends should definately record this; it is bound to be an event to remember! I do not intend to go for the sake of my sanity but will post the audio of the meeting on this forum. Discounts? You mean like the "Buy Down" using the $100K Slushy Fund (originally set aside for parkwide internet) and reduced contributions to Reserves? That Discount? (Boy, did S Inc ever hate that term!) I wonder if the proposed budget will be made available PRIOR to the Budget Forum. If not, that might suggest simple lack of preparation or that MANBOD does not want anyone to have any advance notice to understand the proposed budget or ask relevant questions. Holy Cow! People might start paying attention to what is going on in here because it involves MONEY. I know how you could go to the meeting and still be anonymous--get a wig in different color from your own hair and a large pair of tinted sunglasses, along w/some different outfit and nobody will recognize you! |
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Post by Anonymous Grinch on Dec 4, 2013 10:46:51 GMT -5
Yup, there goes everyone's extra money for Christmas and bingo and other assorted extras--with an increase of $280/year to each owner, how can anyone afford to live?
There are people in here living on Social Security and don't get much per month to live on--some folks only get $750/month or there about!
I know we certainly cannot afford all of our necessities--I GUESS WE WON'T BE ABLE TO EAT NOW SINCE THIS BOARD WANTS ALL OUR GROCERY MONEY!!!!
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