24 FOUR SEASONS BREEZE | JANUARY 2019
The Finance Committee held its
regular meeting on Oct. 30. The financial
statement for the month of September
2018 was reviewed and recommended
for BOD approval. Highlights of the
September financial report follows.
Total Assets are $8,556,629 including
checking $332,442 and reserve assets
$6,851,341. Operating money market and
CDs totaled $1,270,384. Total Liabilities at
this time are $270,853 and Total Equity of
$1,434,435. There was a net income gain
for the month of $14,792. Net Income
and operating expenses have remained
a key focus of the Finance Committee.
Front yard cost center expenses were over
budget by $3,810 and Springdale cost
center expenses were under budget by
$366.
The reallocation of the HOA fee that
was instituted in July has temporarily
resolved the shortfalls in the operating
budget. However, this action is a short-
term remedy as the funding shifted from
the reserve funds would eventually have a
detrimental effect on the overall reserve
funding.
The 2019 budgets were reviewed and
recommended for BOD approval along
with a recommendation to increase HOA
fees as follows:
Master - $9
Front Yard - $5
Springdales - $5.36
This decision is being driven by the
increase in utilities, materials, and labor
costs. The 2019 budget has been mailed.
A more in-depth review of the budget will
be provided in a future article.
Six vendor proposals were reviewed.
All proposals were recommended for
Board approval. Six committee persons
and Jolene Cooley, Board Liaison, were
present. There is an opening on the
Finance Committee. If you are interested,
please come to our next meeting on Jan.
29. ~ Barry Ginnetti
Finance Committee
