Budget season brings deep dive into GRF and Mutual fi nances
GRF PRESIDENT'S COLUMN
by Janet Isom
GRF President
I aim to represent all of Leisure World’s residents to the best of my ability, while endeavoring to offer clear communication from the GRF Board to all of you.
It is once again budget season, so both GRF and the Mutual boards are doing a deep dive into shortand long-term financial planning and our individual Reserve Studies. Every line item of the current 2024 and future 2025 budget, along with our respective Reserve Studies, are being scrutinized for potential cost savings. Our combined goal is to address the cost drivers that greatly impact our monthly assessments. GRF also requested an independent third party review of our insurance policies, to determine if we have appropriate coverage.
With all those factors being considered, the GRF Board also has the fiduciary responsibility to repair, replace and maintain our common areas and amenities, as set out by the Declaration of Trust created Dec. 21, 1961, and timelines in our Reserve Study.
The months of July and August have been filled with a wide range of training sessions for our new and existing GRF directors. Topics like: SharePoint; Resident Portal; Finance Reports; Robert’s Rules; Directors’ Legal Bootcamp; Reserve Studies; and the Implications of GRF BOARD
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Insurance on the Budget. As you can see, we are getting an intensive education on what it takes to be a successful GRF director, which is the end goal. GRF will also be hosting upcoming training sessions for Mutual directors on the topics of CINC financial reports and Reserve Studies with Sean Anderson of Association Reserves. The Board welcomes your suggestions and comments: via email to GRFBoard@lwsb.com, dropped off with the front desk staff or into the overnight box on the far right of the Administration building.
