CAI-NJ Feb. 2019

PRESIDENT’S CORNER Mohammed Salyani, CPA CAI-NJ 2019 PRESIDENT | WILKIN & GUTTENPLAN, P.C.

The Joys of Winter

A s of February 1st, we had 58 days of winter remaining. As a person born and raised in a trop- ical country, honestly, I just grit my teeth and bear it. I know there are people who love winter but be truthful, how enjoyable is it when you get a snow storm during the week and you have to shovel your way out to get to work the next day. That said, I will tell you that a few years ago when we got very little snow (remember that), I did miss it. There is very little in terms of natural beauty that can beat a blanket of pristine white snow. The perfect snow fall would be one that fell over the weekend and was all cleared by Monday morning. Either that or you live in an Association where the snow removal company shovels you out. That’s a smart decision. Talking about smart decisions, this month’s theme is Smart Money. There are some very interesting articles on making decisions with respect to associations’ finances. I found Steve Morris and Damon Kress’ article on “Why hire a professional?” on page 38 to be excellent. As an accountant working in this industry for eighteen years, I have come across many board members who are CPA’s but do not understand fund accounting, that is used by most associations. As the article states, it is so important to hire

a professional who has experience in the industry. That is where the CAI Directory comes into play. Then there is the article about Energy Procurement by Stacey Scaduto on page 20. What an interesting read! I had no idea about the intricacies regarding the cost of energy procurement. For example, who knew that you should get quotes on the same day because rates change

“The perfect snow fall would be one that fell over the weekend and was all cleared by Monday morning.”

every day. Talk about hiring the right professional for the best interest of the association. Then of course there is the article on Money Matters by Elaine Warga-Murray on page 42. It is always smart to be proactive and deal with financial issues as they arise rather then waiting for the issue to snow ball. See how I brought this round full circle! Stay warm and happy reading. n

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