2015 Sun City Anthem Board
A Comedy of Financial Errors & Failures !
(Part Two of Three)
Previously we discussed their infinite "wisdom" displayed by a majority of board members who seem to have an overwhelming desire to make running a homeowners association a personal agenda....rather than a GROUP effort to better the community.
We discussed the absurdity of the manner in which our restaurant problems continued to fester....as a result of POOR and INEXPERIENCED LEADERSHIP...from the beginning...through the past two years...and now, with the "heave ho" being given.
Today, let's pursue that "expertise" in our decision to transition to...
When that was decided....WITHOUT ANY COMMUNITY INPUT or VOTE OF THE MEMBERSHIP....by a group of individuals who had ZERO EXPERIENCE IN SUCH MATTERS, it was NOT properly explained to the residents.
...and it has become obvious that since that decision has been made, more and more questions continue to remain "conveniently" unanswered...
...questions that, if remain unanswered, can and will, inevitably result in HUGE INCREASES in annual assessments to homeowners.
Remember...the budget submitted for 2016 SHOWED A DEFICIT...the well is now DRY except for NEW MONEY !
There is no cushion....spending more than taking in... has only one conclusion now....MORE FROM YOU !
We only know that a new General Manager was chosen with benefits that far exceeded the norms in today's financial environment which exist HERE IN NEVADA...and...
...a starting salary of $250,000...a salary that will be paid for an undetermined number of MONTHS prior to her taking the helm of her new position.
That is chiseled in stone...
...but other questions that brought concern, have either not yet been addressed....or...are being KEPT IN SECRECY.
Perhaps the most alarming concern is...
...a question THAT AFFECTS THE ENTIRE FINANCIAL STRUCTURE of Sun City Anthem....a subject brought up by a former member of the Finance Committee, Barry Goldstein....an individual who has VAST EXPERIENCE REGARDING....
...The Affordable Care Act...
Barry Goldstein's concerns are legitimate....so much so...that I personally contacted a number of accountants to obtain their opinions on this subject.
And...ALL...said the same thing.
Literally, a new industry has been created in merely administering that law...much less a company paying the costs of the benefit package itself...
...with average accounting fees increasing SUBSTANTIALLY as a result of often having to employ an outside organization to do the physical administration of the plans.
Just how has that been settled?
Anyone out there have a clue?
That subject and its cost, have certainly disappeared from the discussion equation, haven't they?
We've made attempts to obtain definitive answers, but each time we pursue this topic, we get the same answer...
..."it's going to be addressed !"
Once again, are we not ENTITLED to KNOW ABOUT POTENTIAL FINANCIAL LIABILITY THAT FACES EACH AND EVERY ASSOCIATION HOMEOWNER as a result of hiring this lady pertaining to that law...AND...all individuals that SHE WILL EMPLOY ON OUR BEHALF?????
How is that being handled, Mr. Nissen?
You are the treasurer. You are the one WHO IS SUPPOSED TO KNOW...
...and YOU SHOULD BE TELLING US !
What's the plan ??????????
What about the future employment of a Chief Financial Officer?
Just HOW MUCH IS THAT GOING TO COST ?
What amount has been budgeted in that regard and where will that substantial amount of money come from?
...and even more concerning...JUST WHAT POWER WILL THOSE INDIVIDUALS HAVE...and...
HOW WILL THEIR ACTIONS BE EVALUATED AND POLICED ?
Have those guidelines been established ?????
What's the most frightening aspect of these pertinent questions?
Most of the current board WOULDN'T HAVE A CLUE AS WHAT or HOW TO POLICE such matters !
Just look at how they "policed" the restaurant ?
Doesn't that give you an indication?
Without the knowledge and expertise of knowing what to examine, one could ROB US BLIND...and no one would be the wiser (i.e. a restaurant)...until it was too late !
I'm not indicting this new manager, nor am I in any way questioning her integrity...
...but SOUND FINANCIAL PLANNING REQUIRES SUCH QUESTIONS TO BE ADEQUATELY ANSWERED.....if for no other reason...to fulfill a fiduciary responsibility of examining all avenues to PROTECT the financial well-being of our community.
There are no guidelines to our knowledge, yet are we paying a General Manager a handsome salary, laden with benefits, along with a future Chief Financial Officer...
...to "wing" it?
And how many employees will Sun CIty Anthem employ?
How will their salaries and/or bonuses be determined, and what benefits will they receive? Medical insurance, 401(k), etc.
...and of course, HOW MUCH WILL IT COST?
Have those costs been budgeted...or...are those costs also...being
Good luck, Sun City Anthem, we're going into a new year...
...lead by a group of individuals who also are "winging it", with a less than stellar record at solving SERIOUS FINANCIAL PROBLEMS...
...while giving authority to an individual who has never been a Nevada resident, is unfamiliar with the Las Vegas economy...
...and whose decisions may be guided by CALIFORNIA EXPENSIVE STANDARDS !
Let's understand...we hope all of this works out, and we wish our new General Manager all the best...
...but our concern is VERIFICATION....and...a BACK-UP PLAN...
...if it doesn't !
Those issues have been completely UNRESOLVED.
These questions lead to the obvious question of WHO IS BEST SUITED to "watch the store" as a President of our association ?
Should be it a "community organizer" without a college education that has never worked in the private sector who spends freely?
Should it be an individual who has few people skills who holds a history degree, having spent a career in a capacity less than "senior management" who has demonstrated an ability to FOLLOW rather than lead, in his free spending habits?
Should it be an individual who made campaign promises that proved to be...let's say....less than accurate...has no experience in the private sector... whose spending habits have also reached out of control proportions...and runs to an association attorney at every opportunity because of her inability to make a concrete decision?
Should it be an airline pilot who is more concerned with keeping peace than keeping efficient?
Should it be a CPA who believes in giving additional loans to people who are delinquent on ones they currently owe?
Those are some of our options....are any of them acceptable to you?
Is the upcoming 2016 Board of Directors election important?
It's perhaps the MOST IMPORTANT TO EVER TAKE PLACE IN THE HISTORY OF SUN CITY ANTHEM !
It's not merely important...it's CRITICAL !
Tomorrow...our final article...
The Liberty Center !
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