Image Up Advertising & Design

The detailed financials for January were not available for the Executive Finance Committee to review prior to the meeting. Their review will occur prior to the next meeting. Accordingly, this report is based only on my review. Copies have been posted to the website. January is the tenth month of our fiscal year. January revenue was ahead of projections by less than $2,000. Interest income fiscal year-to-date is at an annual rate of $140,000, about $64,000 beyond our budget predictions a year ago. Expenses were lower than expected by $45,000, with the largest change attributable to correction of a bookkeeping error which had a $42,000 impact. Irrigation water savings were still significant at $27,000. We had forecast a gain for this month of about $49,000, but with the extra revenue and lower expenses we showed a net difference from budget for the month of $47,000, and an actual gain of about $95,000. Year-to-Date we have extra income of $101,000 and reduced expenses of $279,000 for a difference from budget of $379,000* (*rounding error), and an actual surplus of $259,000. 4 | OHCC LIVING | MARCH 2020 | Overall, our revenue is 1.5 percent higher and our expenses 4.2 percent lower than our predictions year-to-date. There are no expense items of concern which need to be brought to the attention of the Board or the Members, and the January financials reinforce the trends which formed next year's budget. I am pleased to report that our HOA is in excellent financial condition and would be happy to answer any questions you may have about these financial statements or our finances in general. Treasurer's Report By Greg Kusiak, MBA, Treasurer, gregory_kusiak@msn.com 31 Jan. 2020 Operating Cash & Receivables $ 1,314,000 Reserves and Other $ 5,749,000 Total Assets $ 7,063,000 Reserve Obligations $ 5,723,000 Current Liabilities $ 414,000 Equity $ 925,000 January Fiscal Year Income $ 653,000 $ 6,619,000 Expenses $ 558,000 $ 6,360,000 Net $ 95,000 $ 259,000 *rounding error *

• Cover