Speaker: Michael J. Gartzke, CPA

Thursday – September 25, 2008 – 7 PM

Encina Royale Clubhouse
250 Moreton Bay Lane, Goleta

(101 to Fairview, exit north towards mountains -2 blocks to Encina Road, right one block to Moreton Bay Lane, left into association)

Many associations will be in process of developing their 2009 budgets in the fall since calendar year associations must distribute them to their members by the end of November. At this meeting we will discuss:
· Financial reports needed to start the budget process
· Sources of information to develop realistic budget amounts
· Current issues (e.g. bad debts, utility costs, etc.)
· Formatting your budget
· Additional disclosures required to be distributed by California with the budget
· Reserve study disclosures – funding plans
· Assessment/expense trends – 2005-2008

Mr. Gartzke has a solo practitioner accounting practice in Goleta, CA with over 110 association clients for whom he reviews year-end financial statements and/or prepares annual tax returns. He is a co-founder of South Coast HOA and is a former association treasurer.

The August 2008 newsletter will be mailed out shortly. This issue includes:
-2009 Association Budgets Meeting – 9/25
-Avoiding Fraud in your Association
-HOA Internal Control Checklists
-Financial Compliance Checklist
-Books for Sale
-2008 Pending California Legislation

The June/July newsletter will be sent out soon. In this issue:
-Review of 2007 Appellate Court Decisions Concerning HOAs
-Operating Funds and Assessments Receivable – Continuing Analysis
-HOA Board Meeting – Sample Meeting Policy
-“Condo Owners Answer Book” Distributed
-How Well are your Association Funds Insured?
-2006 Newsletters Added to Website

The newsletter will be sent out soon. In this issue:

-A Word from your Editor
-2008 Condominium Bluebooks
-Soaring Gas Rates Will Impact Some HOA Budgets
-SB 528 – Board Agenda Follow Up
-To Foreclose or not to Foreclose
-2000-2005 Articles Now on Website
-CPA Management Letters to Associations

Wednesday – June 4 – 7 PM

Encina Royale Clubhouse

250 Moreton Bay Lane, Goleta

(101 to Fairview, exit north towards mountains -2 blocks to Encina Road, right one block to Moreton Bay Lane, left into association)

“Homeowner Association Assessment Collections in the Subprime Market”

Speaker: Sandra Gottlieb, Esq.

Many area associations are experiencing increases in past due assessments. While in the past, many past due assessments could be collected via past-due notices, pre-lien letters or filing of assessment liens, that is now no longer true. The downtown in the real estate market has left some people owing more money on their home than the property is currently worth. Lenders are foreclosing at record rates and some owners are filing bankruptcy to extinguish debts. At this meeting, you will hear a discussion of the different methods of collection such as small claims court, judicial vs. non-judicial foreclosure, etc. Also discussed will be the effectiveness of the various methods and what remedies may be available to enhance collections. How long should one wait until starting collection activity?

Ms. Gottlieb is a principal in the law firm of Swedelson and Gottlieb in Los Angeles, with other offices in Ventura County, Orange County and the Inland Empire. The firm has an affiliated company, Association Lien Services, which is directly involved in the collection of delinquent association assessments. Ms. Gottlieb volunteers for several California homeowner association organizations and is a frequent speaker for organizations such as CAI and CACM.

(Note: I plan to resume newsletters this month now that “tax season” is behind me. Thanks for your patience)

Date: Wednesday, January 30th, 2008

Time: 7:00-9:00 PM

Place: Encina Royale Clubhouse, 250 Moreton Bay Lane, Goleta

Directions: 101 exit Fairview Avenue North approximately 2 blocks to Encina Road (at Fairview Theatres). Turn right on Encina Road and go one block to four-way stop at Moreton Bay Lane. Turn left into Encina Royale. Clubhouse is on the right across from the flagpole. Parking is available on the street and in the adjacent parking lot.

Speakers: James H. Smith of Grokenberger & Smith and David A. Loewenthal of Loewenthal, Hillshafer & Rosen will present our annual law and legislative update including the new agenda law as well as assessment collection procedures in a declining real estate market. Other topics are to be determined.

The 2008 Condominimum Bluebooks will be shipped to all renewed members during the week of December 17. If you haven’t renewed for 2008, please remit your payment of $60 as soon as possible. Reminder notices were sent out on December 15. A limited number of extra Bluebooks are available – $18.00 members/$22.50 nonmembers.