Our OC had a professional one done in 2009, which, in retrospect, I don’t think added all that much over what we could have worked out for ourselves but it had the advantage of being accepted with more confidence by owners because we paid money for it. The next one in 2015 we did ourselves but couched very much in terms of doing reality checks of our actual costs against the professional estimates of 5 years previous and noting where the two were in good agreement or at variance.
I was treasurer for both of these. I am recently no longer treasurer. I had hoped that writing a lot of annotation on the 2015-25 plan to note the evidence for the estimates of costs and timing would help for succession and preservation of corporate memory. Our new treasurer has just produced a draft budget that suggests he didn’t read much of our sinking fund plan. This is consistent with the impression that he joined the EC to sort out our EC because it is self-evident that his predecessors, especially me, were incompetent. He seems determined to reinvent the wheel.
Am I just a bit irritated, having put in the work to produce a document that can be reviewed every 5 years, updated etc., only to find it ignored after only 3 years?