UPDATE: MARCH 21, 2019
For the third straight month, Property Manager neglected to post the monthly financials on eSTAR by the 20th of each month.
UPDATE: FEBRUARY 21, 2019
State Parkway’s financials for the month and year ended December 31, 2018, and for the month ended January 31, 2019, have yet to be posted on Lieberman Management Services’ eSTAR portal. Yesterday property manager said the belated financials will be posted on eSTAR in a couple of days.
UPDATE: JANUARY 10, 2019
At the board meeting the other night, the board finally filled its record-breaking vacant director position. The board planned to discuss retention of new general counsel to replace Levenfeld Pearlstein, LLC, during executive session, but property manager advised me the next morning that board has yet to find a replacement.
UPDATE: JANUARY 4, 2019
If Tuesday’s board agenda posted in the laundry room today is any indication, very few resolutions will be achieved during 2019. I had hoped Alderman Ed Burke’s attempted extortion charge would have provided the board with a sense of urgency.
ORIGINAL POST: DECEMBER 29, 2018
The New Year is quickly approaching. Below is a list of suggested resolutions State Parkway’s Board of Directors should adopt as early as the January 8, 2019, board of directors meeting:
- cease evading federal and state income taxes by claiming falsely inflated garage operations deductions;
- do away with evading local property taxes on the Association-owned unit;
- retain a reputable law firm to fill the vacant general counsel position;
- form a litigation committee;
- appoint someone to fill the record-breaking director vacancy;
- choose a new and independent auditor;
- have garage operations audited for the first time;
- force Lieberman Management Services (“LMS”) to account for special assessment revenue correctly;
- pressure LMS to stop leaving unrecorded invoices in the drawer at the end of each month;
- push LMS to stop commingling restricted and unrestricted Operating Funds;
- urge LMS to record replacement expenditures by project;
- require LMS to record year-end accruals and automatic reversals in a timely manner;
- stop paying LMS an additional $2,750/month for purported services;
- quit paying the independent auditor for purported financial services over and above the quote for audit and tax preparation services;
- demand LMS and the independent auditor to disclose all revenue sources in the revenues section of the monthly and annual financial statements;
- require the independent auditor to disclose garage operations expense details in the annual financial statements;
- discontinue paying a 62.5% surcharge for doorstaff pensions;
- put the Association-owned unit back in service;
- forgo charging unit owners for non-CAM expenses;
- put an end to overcharging unit owners for Cable TV fees;
- call a special meeting of the unit owners to discuss the unsolicited bid from John Buck Company;
- resurrect the Association’s finance committee;
- desist from engaging in proxy and ballot fraud;
- distribute a complete copy of the Association’s 2018 Audited Financial Statements to all unit owners by April 1, 2019; and
- refrain from failing to make the Association’s books and records available for unit owner inspection within 10 days.
I will update this blog post from time to time to see how many suggested resolutions the board achieves and/or fails to achieve, and will include this information in my Candidate Information Sheet (for election as director) later this summer.
The board can either achieve and/or fail to achieve resolution numbers 1-13 and 18-22 as early as January 8, 2019. And the board can also either achieve and/or fail to achieve the remaining remaining resolutions: 14-17 and 23-25 sometime between January 9, 2019, and September 30, 2019.
Unless all of the aforementioned resolutions are achieved, the fraud, oppression, misapplication or wasting of assets at State Parkway will continue unabated.
Best of luck to the esteemed fiduciaries of the Association!