Budget Meeting

There was an interesting turn of events at the budget meeting on Dec. 12 at Regency Cove. Manager Tom Merriwether recapped the highlights of the workshop budget reports, the income summary, and the expense sheet. The flat rate maintenance increase was changed to 15%, but Merriwether didn’t even get to that part of the presentation.

Many questions and concerns were voiced, from expensive uniform laundry service to a missing itemized expense projection sheet for 2008. One resident stated that share income should be placed against the loan, and not be used to offset operating expenses. Another resident felt that there are too many maintenance men, with too little work to do. Another asked where the expenses for the new apartment building and new bathroom are reflected in the current 2007 budget. No one seemed to have that answer. One resident felt that the carry over surplus was too large to reflect the need for such a high maintenance increase. There were many questions asked and comments made, but the general tone of the meeting was of concern for the park. Some question the way things have been done, and others are pleased with the history of the finance committee and the park in general. Everyone present was polite and orderly.

A concern about the proxies was voiced, since the information mailed out has been revised, some thought that the whole package needed to mailed out again with corrected maintenance fees and other figures.

Mrs. Nimon informed the audience that a budget meeting of this nature is not required to pass the budget, and that it was being done to keep the people informed. She said that there would be a remailing of revised budget reports, but may or may not include proxies. She later said that perhaps everyone would vote with a proxy. ( I guess she means a ballot.) There was some discussion on this. She made the decision to adjourn the meeting and to reschedule for the second Wednesday in January. The day may have to be adjusted later, to allow 30 days for the people up north to respond. I'm sure we will hear more soon.