28 FOUR SEASONS BREEZE | DECEMBER 2021
Finance Committee
The 2022 Budget season concluded on
Nov. 9 when our Board of Directors approved
next year's budget. The Board held three
Budget Workshops during October and early
November with the Finance Committee to
define our community's needs for 2022.
The approved 2022 Budgets and supporting
documents were sent to every homeowner.
By the time you read this, you likely have
already received this substantial mailing
from our association that includes the
annual cover letter to homeowners, the 2022
Budgets, and our most recent Reserve Study.
I encourage all of you to read this snoozingly
exciting packet of financial information
right before bedtime! You will sleep soundly
knowing that our community has a solid
financial foundation and is being well taken
care of.
During the Finance Committee's regular
monthly meeting held Oct. 26, the financial
statement for September, 2021 was reviewed
and recommended for Board approval.
In addition, the Committee approved
four expenditure and two administrative
procedural proposals, evaluated our current
cash position and reviewed the investment
portfolio.
Highlights of the September financial
statement are: Total Cash is $10,994,112
including operating cash of $2,186,775
(checking and CDs) and reserve assets of
$8,827,337. Our HOA Reserve is 105.82
percent funded. We are at a total year-
to-date (YTD) net income loss of $9,461
through Sept. 30. This deficit position was
budgeted for 2021. In fact, a total deficit of
$99,219 was planned for the general HOA
($75,600) and the Front Yard Cost Center
(FYCC) budgets ($23,619) in 2021.
In November, 2020, our Board voted to
use surplus operating funds during 2021 to
alleviate these deficits instead of assessing
homeowners for additional dues. What
these offsets equate to during 2021 is each of
our homeowners realize a savings of $3.40
a month and FYCC homeowners realize an
additional savings of $3.54 a month.
Homeowners are welcome to attend the
Finance Committee's regularly scheduled
monthly meetings held on the last Tuesday
of each month. Our next meeting will be
Tuesday, Dec. 28 at 1 pm. Please check
the Daily Report for meeting location. ~
Claudia Rozzi, cc2682@outlook.com
