I was taliking with a neighbor the other day and she was telling me about the recent HOA meeting. One of the big topics was what to do with all the money in the HOA account. Basketball court, extra lighting, extra landscaping, etc. After awhile I realized how much this mindset is like the federal government.
The HOA elected members are already treating this money like it's theirs. Even after the mandatory payments to our landscaper, utilities, and insurance are made, there is money left over each year. One of the main reasons for the excess money is the fact that a wireless phone transceiver tower was erected on our common property and we receive a nice check each year from the phone company.
Now the HOA wants to find ways to spend it. Why not just give it back to the home owners and lower our quarterly payments?
They don't have a future spending plan or goal. They just wait until there's thousands of dollars in the account then try to figure out what to do with it.
I only go to HOA meetings about once a year so I guess it's time for me to hit the next one and run my plan by them. Wanna bet we'll still be paying the same rate next year!
Oh yeah, the HOA decided the best use of the money was to install a security light near the playground. A light that will continue to have a monthly utility bill.
