4 | OHCC LIVING | OCTOBER 2020 |
On Sept. 11, OHCC's August financials were
reviewed by the Executive Finance Committee
(EFC), comprising Greg Kusiak (outgoing
treasurer), Henry Eisenson (incoming), and
Paul Bellomo (EFC member). Copies of the
August statements have been posted to the
OHCC website.
August is the fifth month of our 2020-21
Fiscal Year and continues the 2020 trend of
reduced revenue from Clubhouse activities
during the pandemic, and slightly reduced
expenses in certain other categories. We
completed August $14,000 ahead of budget,
and were $243,000 ahead for the year-to-
date.
Year-to-date total expenses are consistent
with budget in almost every category.
Exceptions include water savings ($124,000),
Clubhouse electricity savings ($16,000), and
shortfalls due to estimate errors in Cox Cable
($17,000), Internet service ($7,500), and
insurance services ($6,000).
Of course you're interested in a one-line
summary, so:
Our HOA is in excellent financial condition,
and has the capacity to handle nearly any
unforeseen requirement.
Treasurer's Report By Henry Eisenson, Incoming Treasurer
31 August 2020
Operating Cash & Receivables $ 1,544,000
Reserves and Other $ 6,042,000
Total Assets $ 7,586,000
Reserve Obligations $ 5,981,000
Current Liabilities $ 605,000
Equity $ 1,001,000
August Fiscal Year
Income $ 681,000 $ 3,406,000
Expenses $ 711,000 $ 3,236,000
Net $ (29,000) $ 170,000
*
*Rounding error
*
