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The financial report for the month of July 2021 was not available for review by the Executive Finance Committee and staff prior to our special open session Master Board meeting held Aug. 16. The following analysis is based solely on my preliminary review of the data shown in the report. July marks the fourth month of our fiscal year and reflects one-third of our annual operations. July revenue is below projections by less than $400, mainly due to less interest income from our investments. Expenses for the month were lower than projected by $65,000, with the majority of the savings coming from water costs on the golf course (currently under renovation) and contracted staffing costs due to vacancies. Over-budget items include multi-peril insurance costs, emergency tree and contracted tree services and natural gas costs at the Clubhouse. Year-to-date, we have extra income of about $600 and reduced expenses of $177,000 for a difference from budget of $178,000 and an actual surplus of $96,000 compared to a budgeted loss of $82,000. Overall, our revenue is about as expected and our expenses are 6.65 percent below our prediction year-to-date. Most of those savings, as mentioned before, are due to less water costs for irrigation, and less staffing costs due to vacancies. The financial condition of the Association is healthy at this point. Inflation will present our most significant challenge moving forward. Post pandemic economic recovery by most businesses will surely entail increased costs for most of our goods and services. Labor costs will rise as employers pay increased wages to retain employees and to entice new employees. Expenditures will be closely monitored to provide a sound basis for our budgetary process for fiscal year 2022. | OHCC LIVING | SEPTEMBER 2021 | 5 Treasurer's Report By Bob Fisher, OHCC Treasurer The Board met in special session on Aug. 16 and • Approved the report of the Executive Finance Committee of July 20, 2021 • Approved the June, 2021 abbreviated financial report • Approved fund transfers exceeding $10,000 • Wrote off as uncollectible a bad debt of $517 • Approved recording of two liens • Approved the front entry renovation project to include a new monument sign, new plantings and modification of the median • Referred proposed Rules language regarding like-for-like repairs to legal counsel • Approved a revision to the water allocation formula between the Master Association and the Village of Hydra effective 4/1/2021 • Approved the Landscape Committee's tree trimming and removal recommendations • Tabled a request for golf course slope replanting • Rejected an appeal requesting the withdrawal of an ARC condition on a project • Approved the use of the Overflow Parking Lot by the Paper Crafting Club for a craft fair on Oct. 16 • Approved the use of the Overflow Parking Lot by the Garden Club during the Sept. 18 Flea Market event • Approved the recommendation of the Golf Course Committee to purchase new tee signs, tee markers and divot boxes at a total cost of $11,523.66 • Tabled a request from clubs for additional storage areas • Approved the flea market sale and/or donation of select Music Room items • Reviewed correspondence and solicited member comments on the existing masking policy for indoor common areas The Board met in a special executive session on Aug. 16 to discuss legal matters, third party contracts and disciplinary matters. We • Authorized two Directors to respond to two member requests for internal dispute resolution • Withdrew three fines issued by ARC on technical grounds • Authorized an additional $45,000 to Van Dyke Landscape Architects to supervise the golf course renovation • Approved a contract with O'Connell Landscape Management to overseed the golf course roughs and fairways at a cost of $25,047 • Waived the three-bid requirement and approved the purchase of $10,218.19 worth of parts for street light repairs • Awarded J.B. Bostick a contract as the low bidder to carry out this year's asphalt repair and replacement at a cost of $509,886, and • Renewed and extended the agreement with Securitas for community patrol services for the period 9/1/2021 through 12/31/2022 at an annual cost of $926,724.72. This is the last President's Report of my one-year term as President of your Board of Directors. Thanks to those of you who have worked with me — staff, Directors and members of the community--for your cooperation and support. And thank you for your interest in the affairs of your Association! 31 July 2021 Operating Cash and Receivables $ 1,240,000 Reserves and Other 4,901,000 Total Assets $ 6,141,000 Reserve Obligations $ 4,691,000 Current Liabilities 472,000 Equity 978,000 June Fiscal Year Income $ 645,000 $ 2,582,000 Expenses 609,000 2,486,000 Net (surplus) $ 36,000 $ 96,000 President's Message, continued from page 3

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