OneVoice Newsletter February Issue 002 - 2023

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IN GOOD COMPANY LEARN ABOUT THE NEW IGC MARKETING PLATFORM IGC distributes quarterly marketing campaigns highlighting projects that our vendors have accomplished within our portfolio of properties and any seasonal promotions, discounts, and services they may have. In the past, these marketing pieces were distributed via email with a static PDF or excel document attached. This year, we’ve designed a new platform with you in mind! Each campaign will be structured in a succinct and interactive newsletter format with vendor branding, marketing summary and access link for their marketing piece. Our goal is to enhance your user experience, vendor brand awareness and IGC engagement within our organization. The new platform will also allow us to collect click data metrics to better understand the efficacy of each campaign and areas where we can improve. Keep your eyes open for our first campaign launch in March <strong>2023</strong>. We encourage you to explore the new platform and the numerous value add opportunities our IGC vendors can provide for our clients. A sample clip of what the campaigns will look like and how to navigate them is to the right. Should you have any questions, please feel free to reach out to Jen Yang, jen.yang@fsresidential.com or 847-777-7025. fsresidential.com/illinois 14 Making a difference. Every day.
IN GOOD COMPANY Vendor highlight: Inflation and Reserves: The Implications on Capital Planning Inflation has moved into our lives and isn’t estimated to move out for a while. However, with years of experience conducting reserve studies during previous periods of inflation and financial uncertainty, Reserve Advisors is able to take current inflationary circumstances into account when creating our studies and capital plans. Periods of inflation require associations to re-evaluate their current funding plans, specifically near-term. With the guidance of a reserve study consultant, some questions associations will work through are: 1. If we are facing significant increases in contributions, can the increases be phased in over a number of years? 2. Could a loan scenario be used to minimize reserve contributions nearterm? 3. Which near-term projects, specifically those coming up in the next five years, must be prioritized as to not defer critical maintenance and repairs? These questions allow associations to consider not only their current and future financial situation, but to consider the financial situation of their residents. While it’s important for boards to consider how inflation is affecting their community as a whole, it’s also important to consider the financial status of those who make the community what it is. If an association is running low on funds and project timelines are being disrupted, it’s inevitable that residents may be individually suffering financially as well. If you can expand the number of phases or stepped increases in the reserve contributions, residents will not experience as dramatic a financial burden. Additionally, minimizing contributions near-term through a loan can help associations complete crucial projects on time, while also giving residents time to recoup from any financial strain they are experiencing before having to comply with higher dues. When it comes to short-term adjustments due to inflation, particularly current-year expenditures, it’s important to bring in an expert to create a stable path to weather the storm, and reserve studies do just that! fsresidential.com/illinois 15 Making a difference. Every day.
Page 1 and 2: February 2023 Inside you'll find...
Page 3 and 4: Table of Contents Asa's Letter Cult
Page 5 and 6: CULTURE CHAMPION Teamwork “Create
Page 7 and 8: HUMAN RESOURCES SUMMER INTERNSHIP K
Page 9 and 10: FIRSTVOICE SOCIAL COMMITTEE SOCIAL
Page 11 and 12: SUPPORT BLACK BUSINESS Eat. Shop. B
Page 13 and 14: ACCOUNTING SPECIAL ASSESSMENTS Acco
Page 15: FIRSTSERVICE PROJECT MANAGEMENT TAC
Page 19 and 20: FIRSTSERVICE ENERGY FIRSTSERVICE IN
Page 21 and 22: MARKETING SNAP, THAT'S A WRAP! Just
Page 23: @FirstServiceResidentialIllinois @F

OneVoice Newsletter February Issue 002 - 2023

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