2007 Budget Approved
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n
Thursday, December 7th , the Fairlington Commons Council of
Co-Owners Budget Meeting was held in the Cafeteria of the Abingdon Elementary
School at 3035 South Abingdon Street.
The purpose of the meeting was to review and vote on the 2007 Budget
developed and submitted to the Co-Owners by the Board of Directors.
Commons
Council of Co-Owners President John Sinks called the meeting to order at 7:33
p.m. with a quorum of 38% of the
Co-Owners represented in person or by proxy.
The budget was presented, questions answered, and ballots cast, with the
budget approved by a 10 to 1 margin. As
there was no further business, the meeting was adjourned at 8:17 p.m.
Winter is Here?
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ssuming
that it will actually become cold at some point, and if you haven’t already
done so – please take the following steps to prevent burst pipes and flooded
basements:
Auto Theft and Vandalism Follow-Up
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orporal
Scott Whalin of the Arlington County Police Department recently visited our
neighborhood in response to concerns raised by residents regarding thefts of
items from vehicles and attempted vehicle thefts. As a result, Arlington County Police have
promised to increase patrols in The Commons during nighttime hours.
While
increased patrols may deter some vehicle related crime, please remember that
the primary line of defense remains resident vigilance. We said this in our last newsletter, but it’s
worth repeating:
Christmas Tree Pickup Wednesdays, January 3rd and January 10th Please remove all lights, tinsel, and decorations prior to placing
your tree curbside for pickup.
Some Budget Thoughts
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lanning
next year’s budget is never easy, and while expenditures are strictly
controlled, we are inevitably faced with rising costs driven by energy,
materials, and inflation. Some of those
costs are directly incurred (water, sewer, electricity), some are passed to us
through our contractors (who are also subject to employee benefit and medical
costs), and some result from the aging of our World War II era buildings and
infrastructure (sewer lines and retaining walls).
In
voting on the proposed budget, one Co-Owner wrote a note on their proxy
expressing concern that, at some point, our condominium fees would impact unit
sales. While fees are certainly a
consideration in planning a budget and a factor in a prospective buyer’s
purchase decision, our 2007 fees fall squarely in the middle of those of our
Fairlington neighbors. With mid-range
fees, aesthetically pleasing grounds, and recreational facilities second to
none, Fairlington Commons remains both a good community in which to live and a
solid competitor for the real estate purchaser’s dollars.
Another
Co-Owner wrote a note on their proxy inquiring about our “Budget Slush
Fund.” Well, the truth is, we have never
had a “Budget Slush Fund.” What we do
have are reserve funds specifically targeted to pay contingencies and capital
improvements not handled in the annual budget.
We also can transfer unused operating funds (snow removal leftovers) to
cover unforeseen costs or to complement reserves. And the term “Reserve” means just that; most
of our painting, roofing, and paving expenses are anticipated, budgeted, and
paid from operating funds without utilizing reserves.
Past
Boards, admirably, have attempted to hold the line against condominium fee
increases while maintaining our buildings and infrastructure to the high
standards that we enjoy today.
Unfortunately, energy and materials costs, inflation, and damages from
three back-to-back occurrences (2004’s Hurricane Ivan, underpinning several
buildings in 2005-2006, and the unprecedented rains of June 2006 - 14 inches in
three days - $100,000 in damage - 1/6th of our 2006 budget)
stretched our ability to meet expenses without utilizing reserves, money that
we must now repay to ensure our ability to meet future capital improvements and
contingencies.
On
Thursday, December 7th, the Co-Owners of Fairlington Commons
approved a 2007 budget of approximately three-quarters of a million dollars, a
budget that will allow us to operate our community, conduct essential
maintenance, and begin replenishment of our reserves.
Roofing
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oof replacements originally planned for early fall but delayed by slate availability have been completed at 4659 – 4661 S. 34th Street and 3347 S. Wakefield Street. Extensive maintenance was completed on roofs at 3329 S. Wakefield and 4415-25 and 4437-47 South 34th Streets last spring - with proper care; these roofs have a long life expectancy.
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Fairlington
Commons Board of Directors |
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President |
John Sinks E-mail jsinks@comcast.net |
931-2660 |
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Vice President |
Patti Burke E-mail pattisburke@msn.com |
931-2897 |
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Secretary |
Bernie Weaver E-mail WeaverBW@comcast.net |
671-7024 |
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Treasurer |
Christine Sivigny E-mail CSivigny@hotmail.com |
778-6041 |
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At Large |
Dennis Maridueña E-mail dmariduena@gmail.com |
Unlisted |