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The 174 pages of detailed financials for May have not yet been reviewed by the Executive Finance Committee. Accordingly, this report is based only on my review. Since May is the second month of our fiscal year, these represent 1/6 of a year. Copies of the final statements have been posted to the OHCC website. May revenue was below our projections by less than $1,000. Expenses were lower than budgeted by $50,000, with the largest savings being in water and personnel. Water costs were lower due to the wet conditions; April rains and their carryover into May saved $52,000 this month alone. We had forecast a loss for this month of about $7,000, but even with the slightly lower revenue the lower expenses gave us a surplus of about $43,000 and a net difference from budget of $50,000. Year-to-Date we have reduced income according to budget of $4,000 but also reduced expenses of $163,000 for a difference from budget of $159,000, and an actual surplus of $180,000 since we had budgeted a $21,000 gain year-to-date. Our budget for this fiscal year included expending prior years' surplus in the amount of $32,000 per month, or $64,000 fiscal year- to-date. This was based on our forecast at the time the budget was adopted that we would have equity at fiscal year end (March 31) of $726,000. However, actual equity as of March 31 was $970,000, and we have actually increased our surplus during these two months such that our equity has now risen to $1,085,000. As you can see from this great start to our fiscal year, your 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. 4 | OHCC LIVING | JULY 2020 | Treasurer's Report By Greg Kusiak, MBA, Treasurer, gregory_kusiak@msn.com 31 May 2020 Operating Cash & Receivables $ 1,574,000 Reserves and Other $ 5,878,000 Total Assets $ 7,452,000 Reserve Obligations $ 5,794,000 Current Liabilities $ 573,000 Equity $ 1,085,000 May Fiscal Year Income $ 683,000 $ 1,363,000 Expenses $ 640,000 $ 1,183,000 Net $ 43,000 $ 180,000

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