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President’s Message
Dearest Chapter Members,
I hope that you have had the opportunity to meet, either in person or virtually the Chapter’s new executive director, Richard Coppage. Although new to us, Richard is not new to CAI. Prior to joining our Chapter, Richard served as CED of the Central Virginia Chapter. Richard has been spending his time getting to know our Chapter, including its committees, programs and events, as well as becoming acquainted with the staff, the Board, committee members and all of the other volunteers. If you have not already done so, please take a moment to introduce yourself to Richard.
Over the summer, the Chapter hosted its second annual crab feast. Although the weather was a balmy 98 degrees that day, all who attended enjoyed the wonderful food, drink, and camaraderie. Thank you to the Social Committee for planning this successful event.
This past summer, the Chapter also held our first event with The Complete Player Charity, which is a non-profit organization dedicated to empowering and unleashing the potential in today’s youth. Several Chapter members donated their time and expertise to introduce a group of middle school students to the many and varied jobs and careers that encompass the community association field. The students had an opportunity to learn, though role playing and hands on experience, what is entailed in being a general contractor, a landscaper and a community manager. The feedback that we received from the students was that this was the best field trip ever! Many thanks to all who participated in this event and a big thank you to Piney Orchard Community Association who hosted the event and allowed us to use the community’s wonderful facilities. In keeping with this year’s theme of “taking it to the next level” the Strategic Planning Committee is coming up with ideas to grow this program.
By the time this newsletter reaches your inbox, the Annual Golf Outing on the west side of the bridge will have already taken place. Given the amount of creativity, attention and volunteer enthusiasm that the Golf Committee put into the Golf Outing, I am sure that the event was a huge success and enjoyed by all who attended.
The Expo Committee is hard at work planning our next big Chapter event which is the Annual Symposium and Expo on Tuesday, October 18, 2022, at Martin’s West. This year’s topic is about achieving a work life balance and working smarter not harder. I hope to see you all there.
With the summer behind us, it is a great time to recharge. I hope that you will consider becoming more involved in the Chapter. New ideas and suggestions are always welcome.
Regards, Susan Rapaport, Esq., Partner Davis, Agnor, Rapaport & Skalny, LLC Chesapeake Region Chapter President
The Board of Directors is pleased and excited to announce that Richard Coppage will be joining the Chesapeake Region Chapter as the Chapter Executive Director (CED).
Although new to our Chapter, Richard is not new to CAI. Richard has served as CED of the
Central Virginia Chapter since 2020, where he has been solely responsible for all of the Chapter’s operations. His prior work experience includes property and community management, he was a director of a non-profit organization and a marketing administrator. Richard received a BA from and is currently working on his MBA at Mary Baldwin University. He also has a certification in web development.
Richard’s first day was on Monday, June 13, 2022. He is excited to join the Chesapeake Chapter and looks forward to collaborating with the membership, Board and staff to take the Chapter to the next level. Please help us in welcoming Richard to our Chapter!
continued from cover page • Administrative services—legal fees, insurances, postage and mailings and taxes; • Utility services—gas and electric and water; Maintenance— common area repairs and maintenance, to name a few. Reserve expenses account for the money that is put into the reserve account to adequately fund for the infrastructure such as; • Elevators, roofs, windows, pool, roadways, walkways, tennis courts, playgrounds, lights etc.
When is a good time for budget development? Mid June for communities with a fiscal calendar year end.
Community Finance Committees led by the Treasurer typically take into consideration those items that members have requested, the information from the reserve study (must be updated every five years), and any maintenance item from the community maintenance schedules.
By September, a budget working session has been completed and the balanced proposed budget is presented to the Board during a regular Board of Directors meeting.
By late September or early October, the draft budget is forwarded to the members with the date of the open budget meeting. Allowing for any changes decided at the budget meeting, by mid-November the final budget is approved by the Board and the approved budget is sent to the members within 30 to 45 days before January 1st.
In times like now, where the economy is in a recession, members do not wish to increase the annual dues amount. Unfortunately, the Board must
consider expense items important to ensuring a well maintained community, preventative maintenance, and keep costs within a reasonable level. It is important to set goals, which should include long term planning (3–5 years). By accurately assessing yearly budget needs as well as addressing long-term planning goals/ needs, you will put your community on a path to being in solid financial shape. Items adapted from CAI’s How Written by Charlene to Draft a Budget Morazzani Hood, MS, Executive Vice President and Manager, Residential Realty Group, Inc. cmorazzani@residential-realty.com
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