Has anyone had a chance to go over the "audited Financials"? I have been on the road and have not had a chance to open them. What are your first impressions?
I am told that registered letters for a new 15 % maintenance increase have gone out. I have yet to receive it. Are there people who really think we should just pay it?
I have also heard of commercial operations in the penthouse. Is this OK with everyone? It goes directly against our bylaws. Should we allow them to be abandoned?
Now is not the time for name calling. We need answers, we should know how everyone feels, and the Board shows no shame in: spending our money, taking our parking spots, and abusing our common area. Do we really want them back?
I encourage insightful thoughts on where we are going to go with this.
Posted by Donald J McLoughlin
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Looking at the financials little by little – a lot to digest. I did catch a disclaimer that the accountant is only working with numbers he was given by the board and he hasn’t checked the accuracy of those numbers. The whole of page 1 seems to be “weasel factor” so the CPA doesn’t get his feet to the fire if using BOD provided numbers turns out to be not so accurate and honest.
ReplyDeleteI have not received a notice on a 15% increase yet.
ReplyDeleteWhat a joke!That does not look like certified finanials.It does not have 2006 finanials to compare to.It looks like they hired a company to try to justify all the money they stole.
I would like to see proof that Frank is paid to date on all maintenance, and assessments.
I paid my incease as the board rules in all cases. I know the money scam will be endless.
ReplyDeleteJust how the bylaws are written. The board has the first rights to all property sales. The house rules. If your property is paid for in full, TIME TO PAY UP, SUCKER!
SO...this all this being said... IS ANYONE PLANNING ON RUINING AGAINST THE BOARD IN THE UPCOMING ELECTION?
ReplyDeleteWe need to elect new members to the Board. Isn't the hotel owner only entitled to one seat on the Board? If we can identify two or three good candidates and everyone who is unhappy with Frank votes for these candidates we can regain control of the Board and reign Frank in. We need to vote!
ReplyDeleteA motion was made by Mr. Talerico and seconded by Carolyn Chin to have a 15% increase in maintenance starting in February 2009 after the 2007 audit is completed.
ReplyDeleteThe vote was unanimous approved by the board for a 15% increase in maintenance commencing in February 2009, assuming prior completion of the 2007.
There is your notice.