August 2011

Journal Notes

There is a new reality (aren’t they all?) television show called Extreme Couponing. I actually caught a little of one episode on one of those nights when I was channel surfing for something—anything—to watch. The show featured a man who was attempting to pay less than $10 for over $500 worth of groceries by using coupons…and he did it! To get to that goal, however, he had to spend hours and hours planning, collecting, researching rebates and special offers, and then coming up with a precise list of items he could buy. He spent so much time on this project that it was equivalent to a full-time job. But to him and his family, it was all worth it to help them with their cost of living.

Many community associations today have to do their own form of extreme couponing. Despite predictions and announcements from the governing authorities that the recession is over, many managers and board members in Florida are still struggling with financial problems within their associations. Foreclosures, past-due fees, and looming maintenance needs top the list of problems they are facing. Add to that new legislation concerning HOAs, condominium associations, and cooperatives and it is easy to see the need to know what are the most current and legal remedies for these financial dilemmas.

That is where FLCAJ enters the picture. This issue focuses on those financial matters concerning community associations. We have included articles from leading legal authorities, bankers, insurance agencies, and reserve specialists, whose experience, insight, and wisdom will help put communities on the right financial track. Plus we profile VillageWalk and Jade Residences, the Communities of Excellence winners for Financial Innovation and Central Park a Metrowest Condominium Association that is one of the winners of the new Communities of Excellence Trendsetter awards, which was presented to them for their solutions for overcoming financial difficulties. These experts’ advice and peers’ solutions to regaining financial security is a great place to begin your community’s research for your own form of “extreme couponing” savings bonanza! And who knows maybe one day soon, the “reality” of these hard financial times might catch up to the government’s pronouncement of what is happening with the economy.