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Original Message:
Re: Manhattan Club Budget 2020 (by Howard F.):
What you may not have noticed is that the allowance for bad debts is $11,8000. Look at your allocated real estate taxes, double it and add some. That is the additional that you are paying because other owners decided not to pay their dues. In my case about $800. That is outrageous.
There might be that some recovery included in "miscellaneous income", but likely not much, as it gets no mention in the notes. A financially sound budget will have a relatively equal amount for allowance for bad debts and recovery of bad debts.
Just wanted to let those that are paying their dues that we are paying the price for those that aren't, and should be entitled to recover the difference, if ever there is a settlement.