Information Pages

Wednesday, May 27, 2015

"Show Me the Money"...Sun City Anthem Resident Wants to Know Board Plans for Huge Association Surplus




A resident wants to know...

What Happens to Sun City Anthem Surplus Funds?

The attached shows a good educated estimate of the surplus at the end of 2014.  

This number is subject to the official audit but is a good approximation done by people much smarter and qualified then me and who have better access to the real numbers.

Plus...

... at the 2016 budget guidelines workshop on May 26, 2015 we were told there is an estimate of an additional $400,000 plus at the end of 2015.

That brings the grand total close to $1.5 million or about $200 per household.....a lot of money !

To me the question is:

What will the board to with that excess....the excess RESIDENT FUNDS...YOUR FUNDS ?

The law says THEY MUST BE RETURNED to the homeowners as per...

...NRS 116.3114...

...which specifically states...

... any surplus funds are to be returned to the members. 

This is typically done by a reduction in assessments for the subsequent year.

The Finance Committee budget guidelines only say the 2016 assessments should not increase over those in 2015

The Finance Committee guidelines do not say anything about returning the surplus for 2014 to the members in any way nor do they say anything about returning the projected 2015 surplus to the members in any way.

To me this is a concern.

We know if money is left on the table...

...government bureaucrats – and bureaucrats in quasi-governments such as our board...

...will always find a way to spend that money.

This information has had very limited distribution to members. 

Personally I think as many members as possible should at least have a general idea of these very large surpluses.

Tim Stebbins
Sun City Anthem Resident
_____________________

Surplus Fund Calculation as of
December 31, 2014

Cash & Cash Equivalents              $  2,582,825
Other Current Assets                            261,353 

Funds Available                             $  2,844,179


Accounts Payable & Accrued

Liabilities                                        $    401,976
Prepaid Assessments                      1,262,977
Deferred Revenue & Deposits             25,632
Current Liabilities                         $ 1,690,585


Possible Surplus Funds

$ 1,153,594

Less:

Other Approved But Non-Incurred Obligations                                          64,540


Net Surplus Finds                        $ 1,089,054

_______________________

We'd like to know what you think should be done with this surplus?

Should your dues be reduced accordingly (approximately $200) in 2016...or...should the board retain the funds?

Send us an email at:

scaopinions@gmail.com

14 comments:

  1. From Samuel L. Doll...to...Anthem Opinions

    Return the money!
    ReplyDelete
  2. From Sam Novotny...to...Anthem Opinions

    Return the money to the residents before they blow it on that crazy mini-golf project.
    ReplyDelete
  3. From Laura Shapiro...to...Anthem Opinions

    I do not trust our Board Members or our Association with surplus funds.

    They should definitely return these funds to the homeowners.

    I don't want any more money going to that joke of a restaurant or to a miniature golf course.

    Enough is enough.

    Some residents might actually need that money.
    ReplyDelete
  4. From Robert Nusser...to...Anthem Opinions

    1, Since the Board has demonstrated how it can (or will) spend OUR money in a frivolous fashion (can anyone say "Miniature Golf", or "Vic's Subsidies"?), and can act like Dracula in a Blood Bank, the surplus should be returned to the homeowners​

    OR

    2. We waste an incredible amount of water (and money) maintaining the common lawn areas; the surplus should be used to replace the existing common lawn areas with artificial grass. This would be an investment as it would save vast amounts of money by reducing our water bill and reducing the landscape costs of mowing, etc.
    ReplyDelete
  5. From Bob Goodside...to...Anthem Opinions

    Dues should be refunded to us.

    Thank you for your diligent work.
    ReplyDelete
    Replies
    1. Thanks for the feedback, Bob.

      I wish I could take credit for this article, but Tim Stebbins is a "guru" regarding NRS 116.

      It was Tim's diligence that should receive the praise.

      I will pass your compliment on to him...and to our readers.
      Delete
  6. From Samuel L. Doll....to....Anthem Opinions

    Dick,

    I read every day.

    I have also emailed members of the board in the past with the usual no response.

    Thanks for your efforts.
    ReplyDelete
  7. We NEVER get responses from a board that has promised to be "open".

    It's politics as usual..."machine politics". ...

    That's the result of having one in four homes cast a ballot in a board director election...

    ....while the victors claim praise....

    ... from the 35 people out of 13,000 who attend their board meetings..
    ReplyDelete
  8. From Margery H. to...Anthem Opinions

    Reduce the dues!!
    ReplyDelete
  9. From Guy...to...Anthem Opinions

    We should get reduction.

    As you stated they will find a way to spend it mostly by overpaying for projects we don’t need, then getting kickbacks!!!!

    Just love it.
    ReplyDelete
  10. From Pat Goode...to...Anthem Opinions

    I would personally like to see a refund of excess monies .

    Thanks for keeping us informed.
    ReplyDelete
  11. From Ellen Goodside...to...Anthem Opinions

    Dues should be reduced accordingly.

    Thanks for keeping us informed.
    ReplyDelete
  12. From Suzanne LaVopa...to...Anthem Opinions

    We as homeowners should absolutely receive OUR funds back - The "board" has no right whatever to retain those funds - that excess money belongs back in the homeowners hands since we paid our dues faithfully.
    ReplyDelete
  13. From Robert & Marlene MIke...to...Anthem Opinions

    Yes, we feel it should be returned or reduce the dues.
    ReplyDelete

14 comments:

  1. From Samuel L. Doll...to...Anthem Opinions

    Return the money!

    ReplyDelete
  2. From Sam Novotny...to...Anthem Opinions

    Return the money to the residents before they blow it on that crazy mini-golf project.

    ReplyDelete
  3. From Laura Shapiro...to...Anthem Opinions

    I do not trust our Board Members or our Association with surplus funds.

    They should definitely return these funds to the homeowners.

    I don't want any more money going to that joke of a restaurant or to a miniature golf course.

    Enough is enough.

    Some residents might actually need that money.

    ReplyDelete
  4. From Robert Nusser...to...Anthem Opinions

    1, Since the Board has demonstrated how it can (or will) spend OUR money in a frivolous fashion (can anyone say "Miniature Golf", or "Vic's Subsidies"?), and can act like Dracula in a Blood Bank, the surplus should be returned to the homeowners​

    OR

    2. We waste an incredible amount of water (and money) maintaining the common lawn areas; the surplus should be used to replace the existing common lawn areas with artificial grass. This would be an investment as it would save vast amounts of money by reducing our water bill and reducing the landscape costs of mowing, etc.

    ReplyDelete
  5. From Bob Goodside...to...Anthem Opinions

    Dues should be refunded to us.

    Thank you for your diligent work.

    ReplyDelete
    Replies
    1. Thanks for the feedback, Bob.

      I wish I could take credit for this article, but Tim Stebbins is a "guru" regarding NRS 116.

      It was Tim's diligence that should receive the praise.

      I will pass your compliment on to him...and to our readers.

      Delete
  6. From Samuel L. Doll....to....Anthem Opinions

    Dick,

    I read every day.

    I have also emailed members of the board in the past with the usual no response.

    Thanks for your efforts.

    ReplyDelete
  7. We NEVER get responses from a board that has promised to be "open".

    It's politics as usual..."machine politics". ...

    That's the result of having one in four homes cast a ballot in a board director election...

    ....while the victors claim praise....

    ... from the 35 people out of 13,000 who attend their board meetings..

    ReplyDelete
  8. From Margery H. to...Anthem Opinions

    Reduce the dues!!

    ReplyDelete
  9. From Guy...to...Anthem Opinions

    We should get reduction.

    As you stated they will find a way to spend it mostly by overpaying for projects we don’t need, then getting kickbacks!!!!

    Just love it.

    ReplyDelete
  10. From Pat Goode...to...Anthem Opinions

    I would personally like to see a refund of excess monies .

    Thanks for keeping us informed.

    ReplyDelete
  11. From Ellen Goodside...to...Anthem Opinions

    Dues should be reduced accordingly.

    Thanks for keeping us informed.

    ReplyDelete
  12. From Suzanne LaVopa...to...Anthem Opinions

    We as homeowners should absolutely receive OUR funds back - The "board" has no right whatever to retain those funds - that excess money belongs back in the homeowners hands since we paid our dues faithfully.

    ReplyDelete
  13. From Robert & Marlene MIke...to...Anthem Opinions

    Yes, we feel it should be returned or reduce the dues.

    ReplyDelete