Our vision of working together for a Better Decoplage means an efficient and truly transparent use of Special Assessment X funds. 

We believe that prudent fiscal planning would have eliminated a significant part of Special Assessment X and would have made any assessment more manageable for the Association’s members. Most of the Special Assessment line items are for work that has still not even started – some 20 months after the Assessment which has a 10-year payout passed. Proper planning, full and meaningful transparency, and a finance committee of owners with financial acumen to support the processes would have resulted in a Special Assessment of a manageable amount representing work that would be completed in a reasonable period of time.

We also believe that prudent fiscal planning would have eliminated the need to assess operating fund deficiencies. Before the Board of Directors election in 2021, the Board told us that the Association was in such a strong financial condition that they would not increase our monthly maintenance. Within months after the election, they passed a $17 million assessment that included work claimed to be “an emergency” because of structural deficiencies (that were the subject of weekend tours) and to fund operating losses. Assessments are historically used only to fund capital improvements and the need for an assessment to fund operating deficits from poor budgeting practices alarmed many of us.

We need a new approach to manage Special Assessment X. Specifically, we will:

1. Distribute a monthly accounting of monies collected, monies spent, and most importantly, compare these expenditures to the amounts allocated for the line items in the Special Assessment.  In the past, monies were spent without respect to the monies allocated to such items, resulting in massive overruns that were not disclosed, and items that were promised not being delivered.  And, no real explanations were provided.

2. Items needing to be completed for the 40/50-year certifications should not only be prioritized but they should be clearly explained and progress reports issued monthly.

3. Install cash management procedures that allow us to better understand WHEN we will need money, how much, and what are we doing to maximize the return on balances of funds not currently being used. We have the ability to earn significant returns on unspent money but without a cash management plan, this opportunity is wasted, along with our money.

4. Make ourselves available to answer questions AND to provide written financials so that owners can understand what is actually going on with this assessment. We want ALL of our owner-neighbors to feel that they have a voice and are not penalized for asking questions.