The 204 pages of detailed financials
for February have been reviewed by the
Executive Finance Committee. Copies of
the summary statements have been posted
to the website. February is the eleventh
month of our fiscal year; by the time this
is distributed, we will have begun the new
fiscal year. (Please ignore the coincidence
that it starts on April Fool's Day!)
February revenue was ahead of
projections by $6,000. Expenses were
lower than expected by $5,000, with the
largest savings being in the Golf Course
and Administration Departments. Water
costs were about as budgeted, as we have
increased our watering due to the below-
normal rainfall through the end of February.
We had forecast a gain for this month of
about $56,000, but with the extra revenue
and lower expenses we showed an actual
gain of about $67,000 for a net difference
from budget of $11,000. Year-to-Date we
have extra income of $107,000 and reduced
expenses of $284,000 for a difference from
budget of $391,000, and an actual surplus
of $326,000 compared to a cumulative
budgeted loss of $65,000.
| OHCC LIVING | APRIL 2020 | 5
Overall, our revenue is 1.5 percent higher
and our expenses 3.9 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.
I am pleased to report that our HOA is in
excellent financial condition and am always
ready 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
29 Feb. 2020
Operating Cash & Receivables $ 1,341,000
Reserves and Other $ 5,703,000
Total Assets $ 7,044,000
Reserve Obligations $ 5,683,000
Current Liabilities $ 369,000
Equity $ 992,000
February Fiscal Year
Income $ 658,000 $ 7,276,000
Expenses $ 591,000 $ 6,950,000
Net $ 67,000 $ 326,000