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4 | OHCC LIVING | AUGUST 2023 | Continued from page 3 • Approved fund transfers exceeding $10,000 and abbreviated financials for April • Approved recording a lien on APN #169-381-07-00 • Approved posting the minutes of the Construction Team Meetings on the website • Directed the General Manager to acquire and install additional safety netting on the golf course • Ratified a contract with Bristlecone Engineering for a drone mapping survey and preparation of lake grading requirements for $55,214 • Ratified ordering replacement pool lane lines for $3,354.54 • Approved a proposal from Associated Engineering Consultants to update the pavement management plan and prepare plans, specifications and bid documents for seasonal asphalt work in an amount not to exceed $13,990. The Board met in Executive Session on July 17 and held its Regular Monthly Meeting on July 20 after our OHCC Living publication deadline. These meetings will be reported on next month. My terms as a Director and as your Association President both expire on Aug. 17. Whether I continue to serve in either capacity depends on what you decide when you vote in this election. Regardless of your decision, it has been an honor to serve on your Board of Directors and as President of your Association. e Executive Finance Committee met on June 26 to review and approve the May 31 unaudited financial statements as posted to the website. e variance from budget for the second month of the fiscal year was $143,272. Higher interest rates have increased the income variance. e lower expense variance has mainly been from less water usage during the recent rains. e water usage is expected to increase in the future as warmer summer weather begins. Operating expenses are also lower as we are realizing results from bringing in house some previously outsourced activities. e positive variance at May 31 has increased the equity balance to $511,420. Please be advised that the March 31 financial statements are being audited and some adjustments could be made to equity . Currently the state of the Association's finances remains sound and stable. Treasurer's Report By Ann Collins, OHCC Treasurer Balance Sheet: May 31, 2023 Operating Cash and Receivables $ 992,093 Reserves and Other $ 5,005,182 Total Assets $ 5,997,275 Reserve Obligations $ 4,916,600 Current Liabilities $ 569,255 Total Liabilities & Obligations $ 5,485,855 Equity $ 511,420 Income Statement: Two months ended May 31, 2023 (Unaudited) Budget Actual Variance Income $ 1,577,503 $ 1,593,169 $ 15,666 Expenses $ 1,611,479 $ 1,483,873 $ 127,606 Net ($ 33,976) $ 109,296 $ 143,272

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