Image Up Advertising & Design

4 | OHCC LIVING | JUNE 2023 | Continued from page 3 • Approved posting the minutes of the Construction Team Meetings on the website • Agreed with the Committee's recommendation to change its name to the Imaging and Marketing Committee • Accepted the donation of a bench from Craig and Sandra Stewart • Set the Date of Record for voting eligibility in the upcoming election at July 3, 2023 • Appointed as election assistants Elizabeth Westwater, Margie Stogdill, Carol Mathews and Diane Miller • Ratified the Board's decision to install a new pool chair lift. The Board met in executive session on March 25 and: • Reviewed the proposal from Well Tec Services, Inc. to provide and install the well pump • Reviewed the proposal from Precision Pumping Systems to provide the lake pumping system • Reviewed the contract with Hawkins Construction for the casa pergola replacement • Discussed contract items regarding Keystone among Directors only. The Board met again in executive session May 15 and: • Approved the Minutes of the executive sessions on April 17 and 25 • Denied one request to waive fees related to delinquencies but approved another due to errors not the responsibility of the owner • Reviewed and approved revised standard contractual agreements for projects and vendors • Discussed safety and traffic enforcement issues • Reviewed violations involving oversize vehicles • Reviewed emergency communications requirements • Reviewed and approved the purchase and installation agreement with Well Tec Services • Reviewed proposals for gate system maintenance and approved an initial contract with Access Professional Services for $550 per month • Discussed casa renovation contract alternatives and authorized further examination of the underlying structure • Discussed contract issues with Hawkins Construction and deferred further action pending examination of the casa • Accepted a proposal for paving maintenance from Bostick for $134,630 • Accepted a proposal for backflow device repairs from Pacific Backflow for an amount not to exceed $11,240 • Reviewed the status of the Shadowridge lot • Reviewed proposals for maintenance and upgrade of electronic networks and requested additional information • Reviewed proposals for replacement and upgrade of phone systems. Thank you for your interest in the affairs of your association! The Executive Finance Committee met on May 8, 2023 to review and approve the fiscal year March 31, 2023 unaudited financial statements as posted to the website. The variance from budget for the fiscal year was ($124,778). Higher interest rates have increased the income variance. The expense variance has been a result of increases in the property protection contract, utilities and landscaping expenses. The recent rains have given some relief from watering costs. Renegotiation of contracts to maintain current staff levels and filling staff vacancies has also contributed to the current expense variance. This full staffing level is providing opportunities to save costs by bringing in- house some of the items which needed to be outsourced in the past. The March 31, 2023 equity balance was $416,168 and the expenses were $9,301,822. These amounts are close to the projections used for the 2023-2024 budget adopted. Please be advised that the March 31, 2023 financial statements will be audited and some adjustments could be made. Currently the state of the Association's finances remains sound and stable. Treasurer's Report By Ann Collins, OHCC Treasurer Balance Sheet: 31, March 2023 Operating Cash and Receivables $ 827,266 Reserves and Other $ 4,897,295 Total Assets $ 5,724,561 Reserve Obligations $ 4,833,212 Current Liabilities $ 475,181 Total Liabilities & Obligations $ 5,308,393 Equity $ 416,168 Income Statement: Fiscal year ended March 31, 2023 (Unaudited) Budget Actual Variance Income $ 8,556,160 $ 8,590,787 $ 34,627 Expenses $ 9,142,417 $ 9,301,822 ($ 159,405) Net ($ 586,257) ($ 711,035) ($ 124,778)

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