Question: Our budget process takes place in the fall so we will have an approved budget at least 30 days prior to the start of our fiscal year which begins in January. As it turns out, we hold our annual meeting in January and a new board will be elected then. All of our contracts expire next year. Should the current board review, renew and/or secure new bids for our contracted services as part of the budget process or wait for the new board to build its own budget?
Question: I own two rental townhouses worth about $140,000 each, thanks to skyrocketing property values. The mortgage balances are only $50,000 each at 7.50 percent. With today"s low rates, I think it"s foolish to tie up so much money in the equity in these homes and I"m considering buying another property that"s on the market for $100,000. It needs quite a bit of cosmetic work but it"s well priced. In fact, you could say that the property has been "trashed."