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Post by Admin on Oct 30, 2017 19:37:29 GMT -7
GLA Finance Committee Meeting, Saturday, November 4, 2017 4 p.m. at Spectec, 9 Polaris Way in South Glastonbury.
You may call into the meeting on the conference call line, 406-272-4075 or 877-660-4969.
Agenda:
1) Create a draft 2018 budget for the annual meeting.
As meeting documents become available we will post them below. |
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Post by Admin on Nov 5, 2017 11:59:52 GMT -7
Draft Budget Completed and is 100% Balanced
Assessments Should Not be Raised in 2018 One landowner described the November 4th Finance Committee meeting as "the smoothest and most efficient one I have ever attended". Treasurer Regina Wunsch chaired the meeting and in less than two hours had a completed and 100% balanced draft budget ready. The budget will be revisited and tweaked in January when the final year end accounting is completed.
We will post a copy of the 2018 draft budget when it is released at the Monday, November 6th GLA Board meeting. It will be posted here along with other Board meeting documents.
Budget Highlights include:
- Snow removal was increased by over $5,000.00
- Overhead and Administration costs were reduced by almost $10,000.00
- Projected income dropped from $141,398.00 to $137,717.00. That may go up by the end of the year if more landowners pay their assessments.
Despite the cuts, Administrative Overhead and Litigation still consume almost 28 cents of every dollar paid in assessments. The most efficient non-profit corporations use less than 5% for administrative costs.
If Glastonbury landowners converted the GLA to a Road Maintenance Organization and funded it via a County Rural Self Improvement District (RSID) our administrative costs could plummet. An RSID would place the responsibility on the County for collecting assessments; they would simply be added to property tax bills. Almost 100% of assessments would then go to the roads and assessment collection would always be close to 100%.
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