Issue link: https://imageup.uberflip.com/i/1005983
24 FOUR SEASONS BREEZE | AUGUST 2018 The Finance Committee held its regular meeting on June 26. The financial statement for the month of May 2018 was reviewed and recommended for BOD approval. Highlights of the May financial report follows. Total Assets are $8,476,722 including checking $238,087 and reserve assets $6,832,358. Operating money market and CDs totaled $1,263,556. Total Liabilities at this time are $252,617 and Total Equity of $1,391,746. There was a net income surplus for the month of $40,287. This surplus reflects the reallocation of the HOA fee to provide additional funds to the operating budget which was required to meet increases in expenses. The Finance Committee will continue to closely monitor the Net Income and expense trends. Front yard cost center expenses were over budget by $1,880 and Springdale cost center expenses were over budget by $645. Five vendor proposals were reviewed. Four were recommended for board approval and the other one will be revisited after follow-up research. Five committee members and Jerry Monahan, representing Board Liaison Claudeen Diaz, were present. There is an opening on the Finance Committee. If you are interested, please come to our next meeting on Aug. 28. ~ Barry Ginnetti Finance Committee The Community Planning and Transition Committee is making good progress to meet its objective for the HOA takeover from K. Hovnanian which is anticipated to occur at the conclusion of 2019. The committee expects final gas company approval for the dog park anytime now. A presentation was made regarding a proposed storage option near the Lodge pool equipment area. Once additional storage is available, it will be possible to entertain installation of a sink in the Ballroom storage room. Four residents are filing applications to serve on our committee. An initial draft of an HOA Master Plan was reviewed. We welcome homeowners' interest. Our meetings are at 9 am on the fourth Thursday of the month in the RCN conference room. Please come visit us. ~ Johanna Ballard Community Planning & Transition Committee