If you have seen the Monthly Budget for June you know that once again this board has shown that they are not able to manage the financial aspects of this association competently and they really don’t seem to care to learn.
They have added the new dues received (about $45,000.00) for the 2009/2010 assessments to our June monthly Budget which is wrong as June is the end of the 2008/2009 fiscal year.This will then cause assessments to be $45,000 short for the 2009/2010 fiscal year.
Every year we send the dues statement out the last of June and any dues received have to be held (in the safe) and deposited on July 1st.This is really a simple thing and there is no excuse for not getting it right.Our secretary has been with us for several years and knows that you have to hold the new dues til July lst so that they can be post and show as income in the 2009/2010 budget.
They had a quite capable Treasurer in Clem Brown but wouldn’t listen to his advice or allow him to perform his duties.Instead they deferred to the office secretary against Clem’s and my advice as she has no training in accounting designating her to oversee and direct the bookkeeper instead of Clem.This forced Clem to quit as the board would not listen or heed his advice on any financial issue.
It is not a sin to make a mistake but it is unconscionable to deny your mistakes and just arrogantly keep stumbling on.There is help and advice from knowledgeable people available to this board with just a phone call and has been since October.Any advice or suggestions has been blown off by these officers.
I do not blame either of these employees as mistakes are a part of working.Remember the old saying that if you don’t make any mistakes you aren’t working.I do blame the officers of the board as they are not overseeing their employees and are approving things without checking to make sure they are correct.
Running and self managing the association is not a difficult job, but it does require some time, common sense and educating yourself about the rules and requirements for Associations.
Old Greek Proverb loosely translated ………..YOU CAN’T FIX STUPID !!
I don't think you need to keep the money in a safe until July 1. You need to account for when you receive it and make an adjustment to your books for where it belongs date wise. Funds are held in escrow all the time, but I think the "store in the safe 'til July 1" method went out of fashion about the time that grandma quit hiding her "rainy day money" under the mattress.
I don't think you need to keep the money in a safe until July 1. You need to account for when you receive it and make an adjustment to your books for where it belongs date wise. Funds are held in escrow all the time, but I think the "store in the safe 'til July 1" method went out of fashion about the time that grandma quit hiding her "rainy day money" under the mattress.
ReplyDelete