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1/27/2016 1:06:33 PM
 
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Section 5: OPA Board Subject: OPA Food Truck Msg# 940339
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My view, generally speaking, is that no money should be collected for any major project until AFTER the project is approved in referendum.
Joe Again, we are on common ground. Especially in the large amounts now being collected. Is it more than 10% of what we're all paying?? (Sorry I'm missing those detail figures) For me the max for a "cushion" (or slush fund) should be NOT greater than 5%. A bit ironic the BOD fired Olson, but were cozy with his idea . . . to collect millions in advance . . . Also these cushion amounts are a duplication of collecting depreciation dollars, intended (partly) to provide recoveries on depreciating assets. For example we're now paying for annual depreciation $$ on the new $5 million YC asset, recovering that cost through members assessments. 5% should be plenty, as a maximum cushion or slush fund, (on top of depreciation.) Tom |
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For reference, the above message is a reply to a message where: The idea of a five-year plan in the sense of collecting money in advance goes back to Olson era. Olson essentially said that OPA needed to collect millions in advance so that when a project was proposed for a referendum that OPA could say the money was already in the bank. A fundamental problem in OPA-land is association members pay too little attention to what is going on. All Gomsak did is make a proposal as to how those millions would be collected in advance. My view, generally speaking, is that no money should be collected for any major project until AFTER the project is approved in referendum. |
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