FYI

Contents of this page:
A - Five year financial summary
B - 2017 Reserve Projects
C - Dues History
D - Budget Ratification Bylaw Amendment Proposal


A: Strategic Profit Model (SPM) FHGA Summary 2011 - 2015

The summary is based on the annual Auditor Reports done for the association.  Our tax-exempt classification by the IRS exempts us from having to file a form 990.  However, the Auditor Report contains information that normally would be reported in the 990 form.

There is a school of thought that tax-exempt/ nonprofit organizations must earn a profit in order to fund the mission and to build reserves.  

This allows me to run the numbers in the format of a SPM for nonprofits.
This information has been shared with the board.

The numbers flow in the following manner:


Revenue
less Expenses to members (called Program Services: Pools, Greenbelts and Utilities)
equals
Gross Profit   

less Management and General Expenses (primarily the management company and insurance)
equals Net Profit.

At the end of each year, the
Net Profit is rolled into the Reserve account.

SPM_Summary_-FHGA.pdf
42.1 KB



 
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B: 2017 Reserve Projects

Each year, the board updates the reserve projects.  This is not a formal budget, but a list of future looking projects that likely will be undertaken.  Here is the list of 2017 projects.

Draft_2017_Reserve_Projects_.pdf
39.3 KB



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C: Dues Assessment History
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D - Budget Ratification Bylaw Amendment Proposal

At the September meeting, I proposed a bylaw amendment be presented at the annual meeting to allow homeowners to ratify the budget.  Shanna Massier provided a copy of the Colorado law pertaining to the subject.  Copies of both documents are provided below.

The board voted to defer the proposal to 2017 to allow study.

Bylaw_Amendment_Proposal_091616.pdf
45.8 KB


CO_statute_-_Ratification_f_Dues.jpg
386.7 KB

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