Poor Stewardship of $$$$ - (Re-Sealing)

[Marcia Fields]

Hello Owners............

Were informed at last meeting that board 'hopes' to have enough money
to re-seal the lots this year.

FACTS:
Pavement seal coat IS a valid Reserve expense (P.B5, Item 31 -
Replacement Reserve Report, 2008) Analyst's estimate.............
$33,760

Reserve Funds EOM April 30, 2012.....................$157,098
Cash - Pre-Reserve (a new account set up)........$ 8,744

TOTAL:...........$165,842

Last re-sealing? 2007 (board can confirm is correct to my log)

No figure given for this needed improvement at last meeting.

QUESTIONS: Has board gotten any bids yet? Why are they not using
Reserve funds for such maintenance?? Why their put-off and 'hope'
they might have funds to do this year? If claim don't have the $$$,
then explain clearly why won't use Reserve funds. (is part of it 'cuz
there's a
$57,461 payback owed to Reserves from the painting? Been hanging out
there for 3 years).

Our pavement is pathetic......is overdue for a seal coat to help
preserve it until an actual overlay can be done in future. I've paid
dues for almost 22 years and some of that has gone into Reserves and
been used. It needs using again, Now!

ON DUES:
In 2010, we paid $141.00 per month...........
In 2011, we paid $148.00 " "
In 2012, we're paying $155.00 " "
What's wrong with this picture when there's this
doubt.....question.......uncertainty.......if can do a re-sealing with
$165,842 in Reserves?! Anyone as ticked off as I am over this
tangible evidence of poor management and spending of our funds?!?!

If you can't be at the May 15th board meeting, contact them now and
raise the issue......or be there, especially resident owners. Care,
dammit, CARE! what's going on if only in this matter. I guarantee you
the board has a lot cooking over their campfire at present but this is
a HUGE maintenance issue. They need to stop "hoping" and start re-
sealing! This is being sent over to board.

marcia ann