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The 237 pages of detailed financials for March have not yet been reviewed by the Executive Finance Committee since only a draft is available as this is written. In addition, since March is the last month of our fiscal year, these represent the year-end statements and require more in-depth work than any other month. Accordingly, this report is based only on my review. Copies of the final statements will be posted to the OHCC website as soon as available. March revenue was below our projections by $4,000. Expenses were higher than budgeted by $46,000, with the largest deficits being in tree services, water and some one-time expense. Water costs were higher due to the drier winter conditions; April rains and related water savings will make us quickly forget the "dry" winter. We had forecast a gain for this month of about $65,000, but with the lower revenue and extra expenses we showed an actual gain of about $15,000 and a net difference from budget of $50,000. Year-to-Date we have extra income of $103,000 and reduced expenses of $238,000 for a difference from budget of $341,000, and an actual surplus of $341,000 since we had budgeted a break-even for the year. Significant beneficial differences between budget and actual were bad debt, interest income, sale of Clubhouse art work, water, tree treatment, electricity sprinkler and drainage repair, community cable, consulting and computer services. Areas of negative impact were Internet services, streetlight repairs, vehicle expense, property protection contract, windshield tags and contracted staffing services. | OHCC LIVING | MAY 2020 | 5 Overall, our annual revenue was 1.3% higher and our expenses 3.1% lower than our predictions. It is noteworthy that despite the reserve expenditures for clubhouse renovation, street repairs, golf course renovation and other items, the reserve balance actually grew by over $191,000 during the year in addition to contributions to the Capital Improvement Fund of $159,000 for a total increase of $370,000 and a combined total contribution of $1,370,000. Budgeted contributions to Reserves during the new fiscal year are expected to exceed $1,161,000 with an additional $337,000 to Capital Improvement Funds for a total of $1,498,000 out of a total budget of $7,697,000 or 19.5%. As you can see from the robust investments we are able to make to keep our community beautiful and enjoyable, our HOA is in excellent financial condition. I would be happy to answer any questions you may have about this report, our financial statements or our finances in general. Treasurer's Report By Greg Kusiak, MBA, Treasurer, gregory_kusiak@msn.com 31 March 2020 Operating Cash & Receivables $ 1,411,000 Reserves and Other $ 5,683,000 Total Assets $ 7,094,000 Reserve Obligations $ 5,672,000 Current Liabilities $ 414,000 Equity $ 1,008,000 March Fiscal Year Income $ 648,000 $ 7,924,000 Expenses $ 633,000 $ 7,583,000 Net $ 15,000 $ 341,000

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