July 28th, 2020
SPADINA CONDOMINIUM CORPORATION
C/O Mr. John Beckman
702-730 Spadina Crescent East
SASKATOON, SK
S7K 4H7
ATTENTION: Board of Directors
Dear Sirs:
Several requests have now been made to management to provide unit owners with a copy of the Reserve Fund Study Report which was completed earlier this year. Management continues to advise that the Corporation has in fact NOT received the Reserve Fund Study. It is now late July, so why has the study not been received or provided to residents? I would suggest that the study be provided to all unit owners immediately. The grave concern of residents over the Corporation’s finances is a very serious matter and appropriate address by the Board to these concerns should be provided with immediate distribution of the study to them along with a qualified presentation of the study from the author prior to the AGM. The Board has precariously prevented a qualified presentation of the Reserve Fund Study for many years. Qualified representation of the report to all unit owners can no longer be refused by the Board.
A resident review of invoices for the fiscal year 2015, revealed more than $30,000 in ILLEGITIMATE expenditures by the Corporation. Many requests have since been made of the Board to permit a further resident review of both the illegitimate expenditures discovered in 2015 and as well, a full resident review of invoices and all related source documents for following years through to the recent 2020 June 30th year end period. Appropriate address of the 2015 resident review ONLY, would result in an approximate $500 plus refund to each residential unit owner. A responsible review of 2016 through 2020 may very well reveal similar additional refunds to residents. I doubt if any resident would forgive such a substantial refund.
There are many important issues of concern including the above, which very much require address at a general meeting prior to the AGM. Such a meeting would enable a normal AGM where many of the outstanding issues will have already been addressed at the preliminary meeting. For many years, the AGM opportunities for resident expression of issues and importance to them are very much restricted and most often outrightly refused of any response or respect by the Board.
I would appreciate your response to the above.
Thankyou.
Dennis Tofin
603-730 Spadina Crescent East
SASKATOON, SK
S7K 4H7
306.242.0409