$60,000 Garbage Removal Budget

Alan Rothenberg President of Estates ll is hiding the truth. What happens to the unspent money in the budget?

The condo board budgeted $60,000 for garbage removal in 2024 but only spent $37,000, and doesn't reflect the unspent money anywhere in the budget.

Here's what could be happening:

1. Unaccounted funds: The condo board has unspent funds of $23,000 ($60,000 - $37,000). This money is not accounted for in the budget, which could lead to potential issues.

2. Potential misappropriation of funds: With unaccounted funds, there is a risk that the board might use these funds for unauthorized purposes, such as personal expenses or unrelated projects.

What happens when the board budgets $60,000 for garbage removal in 2025:

1. Carrying over unaccounted funds: The board may attempt to "carry over" the unspent funds from 2024 ($23,000) into the 2025 budget. This could create a false sense of security and lead to inaccurate budgeting for future years.

2. Inflated budgeting: By including the unaccounted funds from 2024 in the 2025 budget, the board may be inflating their expenses for garbage removal. This could result in unnecessary costs or waste.

3. Lack of transparency and accountability: The board may not be transparent about how they intend to use the carried-over funds or how they will account for them in future budgets.

The implications of these actions can be significant:

1. Misuse of funds: Unaccounted funds can be misused or misappropriated by board members or employees.

2. Financial irregularities: The lack of transparency and accountability can lead to financial irregularities, which can attract unwanted attention from regulators or law enforcement agencies.

3. Strain on condo finances: Inflated budgets and unaccounted funds can lead to financial strain on Estates ll, potentially affecting its ability to pay bills or maintain the property.

4. Loss of trust: Homeowners may lose trust in the board's ability to manage finances effectively due to waste and abuse, which can lead to decreased property values..