I'm still trying to make sense of this year's budget numbers. I may be the only one who cares and that may be why my request for the required annual audit went down in flames at the owners' meeting. I looked back at last year's meeting notes and it shows that I moved to set the monthly dues at $240 per month and that would produce $30,000 more revenue than budgeted expenses. Chris said that he would not support that and my motion died for lack of a second. The dues were set at $250 and that was supposed to bring in $37,000 more than was needed for the budget.
We started the year $6,560 in the red. We borrowed an additional $125,000. If nothing else happened we would be $131,560 in the red. We did, however, pay back $15,336 on the loan. So if other expenses and revenue matched, we would be 116,224 in the red. If we take 10 months of the $37,000 extra money that we put into the dues, it would be $30,833 to the positive and we would be only $85,391 in the red. That would be the association equity at the end of October if we were on budget with the other items. The actual equity is a negative $112,434. This tells me we are, at this point of the year, $27,042 over budget with no explanation. The Johnson and Cate statement shows we are $29,580 over budget for the year. That may be because I used rough estimates that were supplied at last year's meeting and straight line regression for revenue estimates. Either way, it would be nice to hear why we are so far over budget. I don't see the purpose in adopting a budget, if no attention is paid to it. Bottom line, where is the accountability?