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Financial Budgeting

* Prioritizing the maintenance of our roads and     culverts.  (Five-year plan)

 

* Board should discover the community               financial invoice and statement.

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  • The LPOA shall collect from members only the amounts necessary to maintain and operate our association. Our annual operating budget requires approximately $550,000. However, in recent years, our current treasurer has insisted on collecting around $1 million in dues, leading to a reserve fund that has ballooned to over $2 million. Given that we collect funds annually to cover our operational needs, there is no justification for collecting excessive dues that only serve to inflate the reserve, potentially encouraging irresponsible spending on unnecessary pet projects.

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  • The LPOA collects dues from all members and must spend them to benefit the entire community. The Board is obligated to consider and adhere to the majority’s preferences when prioritizing association expenditures. All spending should focus on benefiting all La Cresta residents, not just a select few. Any spending that primarily benefits a select group should be prohibited or, at a minimum, put to a vote for approval by all members.

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  • The Board must establish and strictly adhere to rules requiring multiple competitive bids for all contracts. No contract should be discussed or approved by the Board without first following this process. All contract negotiations should be managed exclusively by our Property Manager, with no direct involvement from directors, as has occurred in the past. Failure to comply with these procedures could result in significant liability for the association.

Reserve Account 2022-2024

Why does Fencing Reserve change from $6,652 in 2022 to $699,848 in 2023 and jump back to $85,808 in 2024? 

image reserve account 2022-2024.PNG

Budgets 2022-2023 

Budget 2022-2023_page-0003.jpg

Budgets 2024-2025

Budgets 2024-2025_page-0003_edited.jpg

Contact

I'm always looking for your opinion.

 Let's connect.

Tsun-I Wang

Together! We will make the La Cresta community a better place. Please contact us with your valuable opinion.

Email: 

Twang4laCresta@gmail.com

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La Cresta, Murrieta CA 92562

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