I am the treasurer, a volunteer position, for a house corporation for the local chapter of my sorority. What's a house corporation? We are the ladies, in this case, who oversee the physical property that the collegiate members use for living, eating, socializing, and sorority business. It is our job and legal responsibility to ensure a safe and comfortable environment for the sisters.
As treasurer, I manage the budget. This year was interesting as we had to replace both the boiler and the air conditioning unit. We raided our reserves. We have been managing the finances so that we have a reserve. We did not need to borrow to get these big ticket items replaced.
It is now time to construct the budget for the next school year. That's my job. Property taxes have decreased, but the assessment has increased. Costs for water are expected to increase 4.9%. Costs for natural gas will increase by 6%. Our garbage collection has increased as well--by 50%. Insurance will cost more as well--at least a 5% increase. We, as a house corporation, can handle this, but we did have to raise the fee to live in the house and to use the house.
By being the overseer of the house corporation budget I have learned so much about finances regarding our own personal home. I now run it more like we run the house corporation. I had an economics course in high school. I wish that personal economics had been a topic. That is a worthwhile, especially now with our credit card society.
I may be a bit lax in posting because of my budget work. There are 100 girls and a large house worth lots of money counting on me. I must put all of my attention to this task. My writing will suffer because of it. The girls and the house are worth it.