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24 FOUR SEASONS BREEZE | JULY 2021 Finance Committee Have you ever wondered why the Finance Committee's information seems to be a little old when you read about it in the Breeze? It is because of our monthly business cycle and the Breeze's submission deadline. In this July edition of the Breeze, you are reading about financial transactions that occurred in April, our committee meeting held the last week of May and this article written and submitted before noon on June 8. On the first day of a new month, FirstService begins the reconciliation of our prior month's income and expenses and balances the various bank account statements. FirstService publishes a comprehensive monthly financial statement which is more than 200 pages on or about the 20th of each month. The financial statement is emailed to the Finance Committee for review prior to our monthly meeting held the last Tuesday of each month. Then by the 8th of the next month, the Finance Committee's Breeze article is due for the next month's publication. Whew! Did you get all that? Who's on first? What month is this? During the Finance Committee's regular monthly meeting held on May 25, the financial statement for April 2021 was reviewed and recommended for Board approval. Highlights of the April financial statement are: Total Cash is $10,660,786 including operating cash (checking, CDs, petty cash) of $2,209,344 and reserve assets of $8,451,442. There was a net income gain for the month of $38,022. Front Yard Cost Center expenses were under budget by $19,717 primarily from savings in landscape budgeted items. Springdale Cost Center expenses were under budget by $846 due to savings in budgeted insurance costs. The Committee reviewed and accepted the reclassified year-to-date Landscape expenses that were requested at our April meeting. The committee evaluated our current cash position and investment portfolio of CDs, money market accounts, and treasury bills. For instruments maturing within the next 90 days, the committee reviewed and recommended investments proposed by our FirstService Investment Advisor. Five proposals were reviewed with all five recommended for Board approval as written. The Contracts Sub-Committee continued its review work on one annual service contract due to be renewed in the next few months. Two draft financial policies were discussed and will be brought back before the committee next month for further definition and action. The 2022 budget season will begin in July. Finance Committee members will work with staff and other committees to develop 2022 budget recommendations. If you have a 2022 budget suggestion, please work through the applicable committee or check with FirstService management staff. The Finance Committee does not accept budget recommendations directly from homeowners. Seven committee persons and two Board Liaisons, Kathy Craven and Barry Ginnetti, were present for our May meeting. We encourage you to attend our regularly scheduled monthly meetings which are held the last Tuesday of each month. Our next meeting will be Tuesday, July 27 at 1 pm. Please check the Daily Report for meeting location. ~ Claudia Rozzi, cc2682@outlook.com 81 S. Highland Springs Ave., #306 Beaumont, CA 92223 If you have an HMO or POS plan, simply call the number on your insurance card to select Dr. Burton Wang as your primary care physician. ( 9 5 1 ) 8 4 5 - 8 5 0 0 ( 9 5 1 ) 8 4 5 - 8 5 0 0 • S e e D r. Wa n g ' s p r o f i l e a t • S e e D r. Wa n g ' s p r o f i l e a t r y m g . c o m r y m g . c o m New P New Patient atient Appointments Appointments Made Quickly! Made Quickly! • Board-Certified Family Medicine Doctor who listens • Most insurances accepted including Medicare Burton Wang, MD Burton Wang, MD

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