Good Afternoon Homeowners -

A half year has gone by and if we don’t have any more major surprises, we should be able to finish the 2020 fiscal year without a deficit.  Each month, beginning in February, I have scrutinized finances, identified opportunities where we could save money, not only for the particular month, but for future months as well.  Like I mentioned at the annual meeting, my goal would be to “take us back to the basics”. This involved ensuring that core responsibilities were maintained such as lawn care, pool care, insurance, etc., then determining what we could afford and managing the timing of when expenditures could be made in conjunction with assessments received.

While I have done my part, there are still approximately 45 homeowners that have not paid their 2020 dues. You now have good stewards over your assets and paying these dues are an essential part of moving into a solvent 2021 where the contingency fund can be fully funded, more core responsibilities can be budgeted for, and there can be some realistic discussion about a reduction in annual assessments.  With respect for what families may have been experiencing during the “Stay at Home” order, collection efforts were put on hold. However, collection efforts will resume over the next few weeks. I encourage those that have not yet paid, to pay and contact the board, via the MPHOA website, if you have any questions.

 

FINANCIAL POLICIES

To continue to effectively manage spending going forward, the board has adopted Financial Policies (See Link). I will also post our financial position as of June 30, 2020 within the next few weeks.  

 

 

Sincerely,

Derek Williams,

Manchac Place, HOA President/Treasurer