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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• Key Words: Accounting Practices - MOA, Financial Information - 2007 General, Financial Information - 2008 General, Financial Information - 2009 General, MOA Board of Directors, MOA Operations - General/Total, Reserves for Capital Repair [Preservation Fund], accounting, AICPA Audit & Accounting Guide for Common Interest Reality Associations, AICPA Audit & Accounting Guide, AICPA, audit, board of directors, CIRA, preservation fund, preservation, replacement fund, replacement, reserve fund, reserve

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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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Further Thoughts and Information on the Dues Increase Proposal

2009 November 30
Click History for a list of changes and updates.

__As the title suggests, the continuation of this post is my email to MOA Members and provides further thoughts on the Board's proposal for a $100 increase in the dues cap plus COLA. Exchanges of email communications have occurred. As in any good debate, there are different points of view. Any disagreements should lead to a better understanding. The unfortunate part concerning this proposal is that the board did not facilitate a members' debate prior to developing the proposal for a vote.

__My Summary View on MOA's Challenges — I would like to see more emphasis on reaching out to one another and focusing on the common interests to bring the members together to operate, maintain and preserve the recreational facilities in a manner that considers the interests of all the members and is as fair as possible to all members. Reference: my 2007 Jun 13 email to MOA Members titled, We are all in this Michaywe boat together.

Memo: Some of the links including the one above in this post are to my password-protected weblog. If you are a MOA member, please refer to the Welcome & Home page for information on access.

Don Nordeen
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Please be advised that the writer is not an attorney, and this is not legal
advice. The information is based on research on information available
in the public domain.
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• Key Words:_ Accounting Practices (MOA), Business Reviews, Dues and Assessments, Financial Information (2009), MOA Board of Directors, MOA Operations (General/Total), 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

Click Continue for Post Continuation plus Comments. Or Click Show All for Above plus Post Continuation and Comments.

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Proposal for $100 Dues Increase Plus COLA

2009 November 24
Last update: 2009 Dec 01. Click on History for changes and updates.

__The continuation of this post is my email to MOA members concerning the Board's Proposed Vote on a $100 Dues Increase Plus COLA. Members are obviously polarized on this issue. Accordingly, this email attempts to provide information and discussion to help in the decision.

__I have received comments from some members. Those are added with permission at the end of this post. Please send me comments you would like to share or add your comments in the Comment section at the end of this post.

__(added 2009 Dec 01) In 2006, I recorded a post, Should MOA Annual Dues be Indexed for Inflation?. This post makes the same pro and con arguments now being made. The post also includes a graph showing the cost of living and MOA dues through 2006, which shows that the MOA dues trend is well in excess of the Consumer Price Index.

Memo: Some of the links including the one above in this post are to my password-protected weblog. If you are a MOA member, please refer to the Welcome & Home page for information on access.

Don Nordeen
===========

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Please be advised that the writer is not an attorney, and this is not legal
advice. The information is based on research on information available
in the public domain.
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• Key Words: Accounting Practices - MOA, Business Reviews - 2009, Financial Information - 2009 General, MOA Board of Directors, MOA Members & Members' Rights, MOA Members' Letters, 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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Email to MOA Board Re Notice for Dues Increase is Defective

2009 November 23
Click History for a list of changes and updates.

__Not only was the 2009 Nov 29 dues increase proposal a surprise to most MOA members, the notice is defective likely because everything was done at the eleventh hour. Haste makes waste. Because of the defects in the notice, an affirmative vote for the dues increase is likely not enforceable, in my opinion. MOA has enough problems without that cloud having over an "approved" dues increase.

__Since the proposal that was put forward was likely done in good faith, the positive action is for the board to acknowledge the defects, take corrective action by issuing a new notice that can still be voted on in December.

__The continuation of this post is my email to the board providing the specific defects and recommending specific corrective action. Anyone who agrees with this approach should immediately send an email to the board so recommending. The new notice will have to be in the mail by Dec 01 for a vote on Dec 30.

Don Nordeen
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Please be advised that the writer is not an attorney, and this is not legal
advice. The information is based on research on information available
in the public domain.
-------------------------------------------------------------------------------------

• Key Words:_ Financial Information - 2009 General, MOA Board of Directors, MOA Members & Members' Rights, balanced budget, budget, Covenants Conditions and Restrictions, duty of obedience, fiduciary duty, governing documents

Click Continue for Post Continuation plus Comments. Or Click Show All for Above plus Post Continuation and Comments.

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Board's Proposal for Dues Increase and Discussion Forum for MOA Members

2009 February 14
Click History for a list of changes and updates.

__The continuation of this post is my email to MOA members on the stated subjects.
Don Nordeen
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• Key Words:_ Accounting Practices (MOA), Financial Information (2009 General), Governing Documents, Members' Rights, MOA Board of Directors, MOA Operations (General/Total), accounting, balanced budget, budget, duty of obedience, GAAP for property owners associations, governing documents, replacement fund, reserve fund

Click Continue for Post Continuation plus Comments. Or Click Show All for Above plus Post Continuation and Comments.

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