January 2010

Directors:

Happy New Year!  This is a perfect time to pause, reflect on the past year and look ahead to 2010.  Here are some of the areas where we will be focusing our attention throughout the coming year: 

• Community Association Institute CAI - The annual State Conference will be held on March 12, 2010 at the Rock Financial Center in Novi.  There will be training opportunities for Board Members, discussions from industry leaders, networking opportunities and much more.  I can not overstate the importance of this event.  I highly encourage every Board Member to join us in attending.

• Changes in the Lending Market - In reaction to the amount of loans in foreclosure, FANNIE MAE and HUD have many changes pending for 2010.  Some of these changes will affect every Association.  We intend to have Seminars early in 2010 to address these changes in full detail.  Please plan to attend.  

• Reporting:  Year End Financials, Taxes & Financial Statement Format Changes -We are currently processing the year end paperwork in preparation of filing the 2009 tax returns.  Once completed, we will mail the financials to the membership of each community. 

In reviewing our financial statement format with our CPA's, it has been recommended that we make some changes in regards to reporting reserve activity and other minor adjustments.  Once complete we will be sending out the monthly financials in the new format.  If there are any questions, please ask your Community Manager. 

• Housekeeping: Scanning, Backups and Postal Changes - We are nearing the completion of scanning many of our Association's past invoices for archiving.  We discussed this in early 2009 and it has taken more time than expected to complete this project.  In 2010 we will be investing in improved backup solutions to fully ensure our client's information is protected and safe from any electronic complications.  Lastly, the post office has now banned the use of staples in first class mail.  Going forward, we will send out all written communication enclosed in envelopes.    

• 2009 Outstanding Items:  Association Websites - Much interest was generated in reviewing our options of community websites.  We look forward to showcasing these sites for those Associations that take advantage of this option.

I am proud that we completed another challenging year.  As we look ahead to 2010, our plan is to stay sharp and to proactively meet its challenges.  We thank you for being a large part in our continued progress.

Kay