Sunday, December 22, 2019

Over $206K in unexplained budget overages

Before the commence of the Riverfront Master Association (RMA) Board meeting on December 19, 2019, Ivy Unit owners handed out a notice listing over $206k in unexplained overages in the 2020 approved RMA budget (approved by the developer Shahab Karmely, Troy Taylor Mint rep, Maria Elena Negrin Wind rep and voted against by Christine Michaels, the Ivy Rep). There was never a discussion by the board before the budget vote.

President Troy Taylor could not explain the overages and considered the individual line item variances as "granular".

Ivy rep Christine Michaels replied those "granular" variances totaled over $206k.

"No one is against improvements but they need to be reasonable and there needs to be transparency. We also understand the need for some cushioning. But $206K out of $525K increase? " Christine Michaels, Ivy rep

At the encouragement of the RMA attorney, Ivy Association will submit a proposal for consideration of a revised budget.

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