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The Executive Finance Committee has not yet reviewed the financial reports due to the early Board meeting date, so the observations in this summary are mine alone. July is the fourth month of our fiscal year, so the year-to-date totals reflect four months of operation. July continues the trend of recent months. Revenue remained ahead of projections, primarily driven this month by the net proceeds from the auction sale of clubhouse artwork. Expenses were lower than expected, with the largest single piece again being water by about $12,000. We had forecast a loss for this month of about $33,000, but with extra revenue of nearly $26,000 and expenses lower by $34,000, we again showed a net difference from budget for the month of a little over $60,000, and an actual surplus of $26,000. Year-to-Date we have extra revenue of $42,000 and reduced expenses of $142,000 compared to budget of ($74,000) for a difference from budget of 184,000 and an actual surplus of $110,000. (Please note that water costs to date are down by $96,000 and clubhouse electricity down by $16,000. Were Mother Nature not interfering so helpfully, we would be $2,000 over budget year to date, or 1/10th of 1 per cent.) 8 | OHCC LIVING | SEPTEMBER 2019 | Treasurer's Report By Greg Kusiak, MBA, Treasurer, gregory_kusiak@msn.com 31 July 2019 Operating Cash and Receivables $ 1,251,000 Reserves and Other $5,309,000 Total Assets $ 6,561,000* Reserve Obligations $ 5,252,000 Current Liabilities 532,000 Equity 776,000 June Fiscal Year Income $ 677,000 $ 2,651,000 Expenses 651,000 2,541,000 Net $ 26,000 $ 110,000 There are no noteworthy Under/(Over) Budget Items year-to-date other than the water expense and electricity reductions already noted, continued improved interest income and expense timing issues. Your homeowner's association is in very good financial condition. On a personal note, it has been an honor and a privilege to serve the Members of the OHCC HOA as a Director and as Treasurer for the term which expired on Aug. 15. Thank you for your support in the recent election, and I look forward to serving as your Treasurer for the coming year. *Rounding error Ask about our OHCC discount!

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