RESERVE What does it really means?

 

None of us can afford an assessment let alone a large one.  The board chooses to withhold the full format for the reserve by removing the estimated replacement cost and the funding requirement in the reserve study.   Why?

Most special assessments result from a failure by overspending in areas where proper cost control should be maintained to avoid special assessment later.  

Does the board lacks the proper cost controls experience but claim otherwise? A number of the Coalition members are financial advisors used to these disclosures and clearly understand the omission below. 

 

if you have paid attention the amount required to waive the reserve is going up year after year by close to 20%.  it started at about 20% of budget in 2010 it is now 84%. Do you know why and what it means?. We have studied the 2005 assessment of $12.5 millions and the 2010 assessment of $2.5 millions and in 2015 an assessment of 1.25 millions . We see a similar pattern and we need to prevent it.

See below for the withheld information. Is that why the attorney insisted  on answering questions on behalf of the board?  

We must act now to prevent future special assessment.  We still have a choice.