Post by Poor Richard on Oct 24, 2022 11:21:32 GMT -7
GLA Flush with Cash - Best Financial Position Ever
The latest Financial Reports released by the Glastonbury Landowners Association paint a rosy picture. They show that the GLA has just under $290,000.00 sitting in the Bank of the Rockies. Diligent work by the Treasurer's assistant Claudette Dirkers has led to a substantial decrease in past due assessments, collection of old debt, and refining of the current assessment list. Before Dirkers intervened many landowners were refusing to pay past-due assessments. Many paid in full as soon as a lien was filed against their property. Some landowners were not being charged the correct assessment amount. Director Dirkers cleaned up the landowner list to accurately reflect current owners and the number of dwellings for each parcel.
The GLA has a budget of approximately $150,000.00 per year. They have enough cash to cover expenses for 2022 and all of 2023. Landowner's assessments paid in 2023 may not be spent until 2024 or later if the GLA is frugal. If the court orders a dissolution of the current GLA and establishment of a GLA_South and GLA_North, the $289,000.00 will be divided evenly between the two new boards.
The 227 acres of land owned by the GLA and with an approximate market value of $17 million dollars was once again missing from the latest Financial Statements. Perhaps the new GLA board will include the acreage in future financial statements. Since the land is not on the Financial Statements the court may let each half of the community keep the land that is in their legal jurisdiction.
The new GLA Board elected Jewell Wieczorek as Treasurer. then Wieczorak resigned a few weeks later. Director and current Dissolution litigant Mark Seaver was elected to replace Wieczorek. Seaver served as Treasurer once before. He was the one who discovered that Director Charlotte Mizzi removed $5,000.00 from the GLA bank account, placed it on a VISA debit card, transported the money to Malta where she spent it treating her family to a lavish vacation. Seaver successfully hid the embezzlement from landowners for 3 months. Then, in anger directed at Mizzi at the November Board meeting, Seaver quit as Treasurer, outed Mizzi in public, and gave her the financial records and laptop computer. A few months later Seaver sued the GLA. He was seeking $59,000.00 in damages. The lawsuit was settled out of court and then dismissed. Seaver is currently a litigant in a lawsuit seeking to dissolve the GLA.
Sadly Kristin Williamson, who worked for Accounting and Tax Solutions (ATS) handling the GLA books, passed on, Tuesday, October 11, 2022, at age 57. She provided valuable work and guidance for the GLA for many years.
Download the August GLA Financial Statements here.
The GLA has a budget of approximately $150,000.00 per year. They have enough cash to cover expenses for 2022 and all of 2023. Landowner's assessments paid in 2023 may not be spent until 2024 or later if the GLA is frugal. If the court orders a dissolution of the current GLA and establishment of a GLA_South and GLA_North, the $289,000.00 will be divided evenly between the two new boards.
The 227 acres of land owned by the GLA and with an approximate market value of $17 million dollars was once again missing from the latest Financial Statements. Perhaps the new GLA board will include the acreage in future financial statements. Since the land is not on the Financial Statements the court may let each half of the community keep the land that is in their legal jurisdiction.
The new GLA Board elected Jewell Wieczorek as Treasurer. then Wieczorak resigned a few weeks later. Director and current Dissolution litigant Mark Seaver was elected to replace Wieczorek. Seaver served as Treasurer once before. He was the one who discovered that Director Charlotte Mizzi removed $5,000.00 from the GLA bank account, placed it on a VISA debit card, transported the money to Malta where she spent it treating her family to a lavish vacation. Seaver successfully hid the embezzlement from landowners for 3 months. Then, in anger directed at Mizzi at the November Board meeting, Seaver quit as Treasurer, outed Mizzi in public, and gave her the financial records and laptop computer. A few months later Seaver sued the GLA. He was seeking $59,000.00 in damages. The lawsuit was settled out of court and then dismissed. Seaver is currently a litigant in a lawsuit seeking to dissolve the GLA.
Sadly Kristin Williamson, who worked for Accounting and Tax Solutions (ATS) handling the GLA books, passed on, Tuesday, October 11, 2022, at age 57. She provided valuable work and guidance for the GLA for many years.
Download the August GLA Financial Statements here.