Journal Notes—January 2020

Journal Notes—January 2020

by Michael Hamline, Editor / Published January 2020

     Happy New Year and welcome to 2020! What will the new year bring? Will it be a year that you get married or remarried, have your first child or grandchild, or watch a son and/or daughter graduate from high school or college? Will you lose your job, receive a job promotion, or change the company you work for? Will it bring the U.S. it’s 46th President, or will the 45th President of the U.S. be elected to another four years? Will the economy keep booming and unemployment remain at record lows, or will this be a year that sees a recession and higher unemployment? Not a single one of us can say with any certainty what 2020 will bring, but the new year will have its mountaintop moments, valleys, and plateaus like any other year.

     As a manager in a community association, will you oversee a major restoration project in your community this year? Will you move to a new community and provide your expertise there, or will you continue to improve the community you’ve been at for the last several years? Will there be a complete turnover of the board of directors, will one or two new directors be elected, or will the composition of the board remain the same? As the community association manager (CAM), you probably have some idea of what 2020 will bring for your community in terms of major projects, but there will be unexpected issues that pop up that will cause you to have to tweak your plans as the year progresses and you respond to the current realities.

     Now in its 20th year, the Salary & Information Survey on page 14 provides information to review and analyze in providing for those who make your community a place you enjoy living in. Of course, the most interesting (and important) statistic for managers deals with compensation. Manager salaries continued their gradual climb, averaging $66,013 statewide for 2019, up from $65,477 in 2018. In addition, bonuses are up from last year’s survey and average $2,600. Hopefully that growth will continue throughout 2020.

     In the article “Board Members, Thank You for Your Service” on page 8, there are several professional management companies and financial service providers that share helpful advice for new and returning board members. There is much to learn for all who serve on their board of directors.

     FLCAJ hopes that you and your community have a great 2020!