Looking at a balance sheet for a HOA can be confusing. Here is a (relatively) easy article to look at how these different items should be reported: https://camblog.topssoft.com/reserve-fund-accounting-for-community-associations
For consideration – reserves are funds set aside for future expense – like resurfacing the pool. Equity, or retained earnings whether positive or negative is money from budge surpluses or deficits. See this article for more: https://keydifferences.com/difference-between-retained-earnings-and-reserves.html
Removal of old and dying plants along Whiskey Creek Drive has begun – soon to be followed by new plantings!
When cleaning out the cluster of Chinese Fan Palms on the southeast corner of the clubhouse, several ‘bullet’ shaped things were discovered in one somewhat sick looking coconut palm. It appears that someone had thought this was the proper way to fertilize a palm! There are times to inject trees, such as fungicides to respond to Dutch Elm Disease – but this was clearly someone out of the main stream in proper horticulture. Sadly – the side of the tree with the plugs in it is so damaged that the tree is scheduled to be removed.
Well, then, some say “of course not” – inject INTO THE GROUND. Sadly, that, too, is not good plant culture. Why? Here is what the University of Florida Institute for Food and Agriculture has to say:
” Injecting water-soluble fertilizers into the “root zone” of palms is never recommended because 1) water-soluble fertilizers are readily lost to leaching, 2) lateral movement of injected fertilizer is minimal, and 3) injecting any nutrients deeply enough to avoid turfgrass roots will also miss the majority of the palm’s fine feeder roots, which tend to intermingle with turf roots near the soil surface. ” Source:
Three of your board members, Wilda, Judy, and Chris attended a recent presentation by Becker legal’s Joe Adams regarding condominium law.
Here are some of the highlights:
- Regarding website posting of contracts – a LISTING or SUMMARY of contracts is permitted
- Board members can DISCUSS via email but cannot VOTE via email
- Material Alteration of Common Elements, such as change or addition of amenities requires a vote of 75% of the ownership. Examples?
- Appearance / Function / Use of common elements
- Changing paint color
- Boards should effect a regulation regarding Electric Vehicle Charging Stations. Note – putting in a common charging area is a MATERIAL ALTERATION
- Boards should effect a procedure for information requests (email? to whom? etc)
- Annual Official Documents should be mailed to the ADDRESSES FROM THE COUNTRY PROPERTY APPRAISER’s office
- PETS and Emotional Support animals – these are FEDERAL rules – State of Florida can’t override these.
- The “Frisco” case applies for pets: allowing cats is EQUAL to allowing dogs
- Emotional Support Animals are equivalent to allowing oxygen tanks; while compressed oxygen tanks might otherwise be prohibited, the Medical statement could supercede that. If the owner dies, the right for the animal goes away as well (same for the O2 tank, if prohibited).
- Committee Meetings – are covered under the Sunshine laws