Updated Replacement Fund and Restricted Assets Tabulation

2009 December 30
Last update: 2009 Dec 31. Click on History for changes and updates.

__During and following the 2009 Dec 29 Town Hall Meeting, several of the members had an extensive discussion of the shortfall in the Replacement Fund / Restricted Assets accounts. This was covered in my 2009 Oct 13 letter to the Board re Preservation (Replacement) Fund & Restricted Assets. No action was taken by the Board concerning the 2009 Oct 13 letter.

__The continuation of this post is my 2009 Dec 30 email to the Board re the subject title of this post.

Don Nordeen
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Voting Results on $100 Dues Increase Plus COLA

2009 December 19
Click on History for changes and updates.

__The results of the voting at the 2009 Dec 19 Special Members' Meeting on the Board's Proposal for a $100 increase in the Dues Cap plus COLA are the following as reported by the elections committee:

• Eligible Voters = 1,743
• Quorum = 175
• Ballots Cast = 1,292
• Valid Ballots = 1,245
• Invalid Ballots = 47
• "Yes" Votes = 431
• "No" Votes = 814

This represents a 35% to 65% defeat of the Board's proposal. These numbers are slightly different from those announced at the Special Members' Meeting, and are the corrected numbers published in an email from MOA.

__When time permits, I may add some of the members' comments in the continuation of this post.

Don Nordeen
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• Key Words: Accounting Practices - MOA, Business Reviews - 2009, Financial Information - 2009, MOA Board of Directors, MOA Members & Members' Rights, abuse, access to records, accounting standard, accounting, balanced budget, budget, civility, closed meeting, closed session, Covenants Conditions and Restrictions, dues, duty of obedience, executive session, GAAP for community associations, GAAP for homeowners associations, GAAP for property owners associations, governance, governing documents, members' rights, replacement fund, reserve fund, special meeting, user fees, vote

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