Pelican Bay Post August 2012 : Page 1

The Official Publication of the Pelican Bay Foundation, Inc. August 2012 • Volume 13, No. 13 PELICAN BAY FOUNDATION BOARD MEMBERS Chair 2012-2013 Proposed assessments for fiscal year 2013 Audit and Budget Committee recommendations The early summer season is when the Pelican Bay Foundation turns its atten-tion to preparing budgets to operate the Foundation for its next fiscal year, which commences October 1. This article speaks to the proposed budget for the next year. The recommendation For the Pelican Bay Foun-dation's next fiscal year, 2013—commencing Octo-ber 1, 2012—the Audit and Budget Committee is recom-mending increases of $30 in the Operating Fund Assess-ment, $5 in the Replacement Reserve Fund Assessment, and $21 in the Comcast Cable TV Fee. These recommended amounts represent increases from the current year assess-ments of 3.1 percent for the Operating Fund, 2.5 percent for the Replacement Reserve Fund, and 5.5 percent in the Cable TV Fee. The total resi-dential assessment is recom-mended to be $1,592 per unit ($988 for Operations, plus $204 for Replacement Re-serve, plus $400 for Cable TV). This $1,592 proposed, per-residential-unit assessment represents an increase of $56 from FY2012, or 3.6 percent. As a point of reference, the annualized increase, as pub-lished by the Bureau of Labor Statistics for the first quarter of 2012 of various indices are: Consumer Price Index for All Urban Consumers (CPI-U) – 3.7 percent; Consumer Price Index for Urban Wage Earners and Clerical Work-ers (CPI-W) – 4.2 percent; Producer Price Index (PPI) – 2.8 percent. The Foundation Board will vote on these recommen-dations at its meeting on August 17, 2012. By Robert W. Uek, Audit and Budget Committee Chair Ronnie Bellone Vice-Chair/Treasurer Robert Uek Secretary Noreen Murray Directors Bill Carpenter Mary McLean Johnson Jerry Moffatt Robert Pendergrass The result of this year's proposed budget vetting process by the A&B Com-mittee was as follows. The proposed FY2013 budget review meeting of the Pelican Bay Foundation A&B Com-mittee was held Wednesday, June 27, 2012 and Thursday, June 28, 2012, consistent with posted meeting notices and The process As an overview, the budget preparation process, and the related Foundation assess-ment recommendations, are first assembled by the Foun-dation staff, then reviewed by the Audit & Budget Committee (A&B), and then recommended by the A&B Committee to the full Pelican Bay Foundation Board for fi-nal decision. The Board's vote on assessments is required to be made at least 15 days prior to the start of the new fiscal year; the Board’s approval is scheduled this year for the Board Meeting of Friday, August 17, 2012 at 8:30am at the Community Center. in compliance with the bud-get preparation timeframes established in the Founda-tion’s governing documents. The focus for the day-and-a-half-long budget meeting was the review of proposed FY2013 Budgets for four dis-tinctly separate components: the Operating Fund; the Re-placement Reserve Fund; the Cable TV Fee assessment; and the Capital Fund. The objective of the meetings was to enable the A&B Commit-tee to sufficiently discuss and understand the assumptions and service levels built into the proposed budget, to ask questions and analyze the financial data; all to be able to make an informed recom-mendation to the Founda-tion Board for its setting of the FY2013 assessments at the Foundation's August 17, 2012 Board Meeting. The budget materials were prepared during the months of May and June by the Foun-dation staff and sent to the A&B Committee members for their advanced reading/ review in mid-June. This year’s presentation reflected an impressive 102-page bud-get document, very profes-sionally done, clearly reflect-ing considerable thought and effort by the staff. The process employed in the prepara-tion of the FY2013 proposed budgets is a "bottoms up" zero-based budget with a view toward looking for ef-ficiencies, while delivering on the Foundation’s Vision Statement to: “Preserve and enhance Pelican Bay as Florida’s premier, mixed-use, beachfront community. It is the Founda-tion’s responsibility to promote the enjoyment, health, safety, and general welfare of its proper-ty owners, residents, guests, and employees through cooperative governance of the community and cooperative management of its common elements, and enhance the property values throughout the Community.” The following represents an overview of the Operating continued on page 3 Prsrt std Us Postage PaId PermIt #419 Ft myers FL Meeting of the Pelican Bay Foundation, Inc. Board of Directors FY 2013 Operating & Replacement Reserve • Budget Approval August 17, 2012 8:30am • Community Center, 8960 Hammock Oak Drive The Pelican Bay Foundation, Inc. 6251 Pelican Bay Blvd. Naples, FL 34108

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