11/11/12 – Last Monday evening The Vaux Board of Directors approved a budget for 2013. The cost of operating our condominium will rise approximately $93,000 to $736,254 next year, in large measure because the new budget, heeding past experience, more accurately estimates future maintenance expenses. This increase will be partly offset by drawing down cash reserves, but it will still necessitate an increase in our HOA fees of 5%.
In other business:
• The Board drew attention to the money we make by investing our reserve fund: on principal of over $700,000 we earned just under $700 dollars. In the current financial climate interest rates are at an all-time low.
• The Board noted that recycling bins for fluorescent bulbs will be coming soon. (Remember, these lights cannot be dumped into the trash or recycling stream because they contain poisonous mercury.)
• The Board adopted a measure that, when it kicks in, means newspapers left in our hallways and not collected promptly by their subscribers will be removed and recycled.
• CMI identified several building & grounds problems that are scheduled for review and repair. For a headline list, click here.