Hawaiian Shores -- August Finance Comm Recap

WATCHDOG © 2011

Aloha Watchdog Readers,

The Finance Committee met on August 18th, 2011 with just quorum plus two observers. That is 5 people from the entire community who is present to participate in the 'financial' decisions being recommended to the Board of Directors which will reach into your bank account one way or another. 5 people including the 3 committee members!!! On to the recap.

The Finance Committee was to consider the budget for the second month in a row. Such considerations as:

• Operational Funding
• Infrastructure Fund [the fund from which all upgrade/repairs/replacement for roads/water are taken]
• Reserve Fun [the fund that handles all other upgrades/repairs/replacement/operational overages]
• Develop the Capital Improvement Budget for FY 2012
• Schedule next Finance Committee Meeting

Now for what transpired:

1. Operational Budget was deferred until the committee received the proposed budget from the Director of Ops & Mgt.
2. Infrastructure Fund [balance in acct 8/18/11 = $294K]: 
1. Decision was agreed to budget $30K-50K for Roads; 
2. $100K for the PER [Water]; 
3. $5K for extra Meters; 
4. $5K for Software for Meters;
5. $1800.00 for annual Licensing for Software.
3. Reserve Fund [balance in acct 8/18/11 = ~ $184K]
1. Decision was agreed to budget $75K-$85K for Pool Power filtration upgrade to solar; 
2. Minor Pool maintenance $12.5K [epoxy paint, coping/patch paint]
3. $50K per year for upgrade/refurbishing to the Community Center [aka Stables]
4. $2500 for repairs to Maikoiko Street Park.
5. $10K for painting/repairs to roof of
1. 7 cabana's                      $3025
2. BBQ pit area                 $864
3. Long House                   $1921
4. Pool Bldg                      $1921  [included in the 'minor repair' budget]
5. Maint Building.            $2291

 The meeting was adjourned at 715P. Next meeting of the Finance Committee: Thursday, September 1, 2011 @ 6P, Honu Street Facility.

Please plan to be at the next Finance Committee meeting as the 'operation' budget will be discussed and it is from this budget the annual 'assessment' is decided upon for recommendation to the Board of Directors. It is where we will see the projected costs of such items as 'employee' costs --  with a new 'job description' plan in mind and the clanging sound of the oft repeated castigation of the former Board -- because employee costs were so high -- ringing with deep resonance and noticeable echoes we'll get our first glimpse into the 'management' of the finances for the budget year coming up.