Not a real exciting meeting as expected. The budget was passed as recommended by the finance commission with the exception on a change in the proration procedure for the dues credits. Is has not real impact on current long term owners and actually will be a payout for more P.O.s so no problem. The resolution was also passed to credit cash available from future budget savings to the property owners as was done this year. One thing to remember though, if something happens and we are over budget there could be an increase for that future year. Not saying it will happen but it is a possibility. Next year it appears there will be another available credit as well if the budget continues to come in well as it has been for the fiscal year. It will not be as large as the current credit.
The mobile speed trailer for ticketing speeders was pulled from this year’s budget as were the extra piers that were to be installed. This will afford savings of about $38,000 to add to contingency funding due to the costs incurred with a General manager replacement. There is still some turmoil in the contract with the “Y” with them asking for more funding for next year as well. The items pulled from this year’s budget are not absolute necessities and this will give us a nice pad in the contingency fund for come what may. A good prudent move in my opinion although I really hate to lose the other items for this year.
The levy for reserves will stay the same again so as I stated a few days ago the bottom line will remain the same, which is a good thing. As I watch the price of oil rising I get that sick feeling in my stomach knowing a lot of the road materials are oil based. What this will do to our road projections could be bad unless we see a pullback in oil. Oil was more in the $70 or so area per barrel when we were plugging in numbers for the road rebuilding. We will have to wait and see what happens there.
Anyway, a good civil meeting and much was accomplished. Nice to see.