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Wednesday, July 20, 2016

Board Member Demands Proper Definition of the word "Surplus"

Over the past few months, the subject of "surplus"...

...funds that many believe should be returned to association unit owners...

...has been addressed.

A number of existing board members look at the matter quite differently due to the vague nature and definition of the term according to Nevada statutes.

Sun City Anthem Board Member, Jim Mayfield, has done extensive research on the topic, and though the Nevada Real Estate Division does not fully define "surplus", he believes it is time we establish such a guideline in order that the future of our association maintain the financial stability to which all of us are entitled.

Originally scheduled to be discussed at the July, 2016 Board Meeting, this has been postponed to the August, 2016 Board meeting due to the Association Treasurer, Thomas Nissen, being unable to attend the July meeting.

States Mr. Mayfield:

Recommended Policy to Define
Surplus Funds

k11804717.jpg (222×179)
by
James Mayfield
Sun City Anthem Board Director

or

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"Nevada Know How"

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