Image Up Advertising & Design

4 | OHCC LIVING | SEPTEMBER 2023 | e Executive Finance Committee met on July 31, 2023 to review June 30, 2023 financial statements as posted to the website. e variance from budget as of the third month of the fiscal year was $152,092. 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 now beginning to increase as warmer summer weather occurs. Operating expenses are also lower as we are realizing results from bringing in house some previously outsourced activities. e equity balance at June 30, 2023 was $501,530. Please be advised that the March 31, 2023 dra audited financial statements have been received. ey are in the process of being reviewed and will be distributed to the community aer a final version is approved by the Board. Currently the state of the Association's finances remains sound and stable. Treasurer's Report By Ann Collins, OHCC Treasurer Balance Sheet: June 30, 2023 Operating Cash and Receivables $ 1,044,228 Reserves and Other $ 5,058,713 Total Assets $6,102,941 Reserve Obligations $ 4,978,383 Current Liabilities $ 623,028 Total Liabilities & Obligations $ 5,601,411 Equity $ 501,530 Income Statement: ree months ended June 30, 2023 Budget Actual Variance Income $ 2,366,255 $ 2,405,421 $ 39,166 Expenses $ 2,418,941 $ 2,306,015 $ 112,926 Net ($ 52,686) $ 99,406 $ 152,092 The Board held its Regular Monthly Meeting on Aug. 16 and took the following actions: • Approved the Minutes of the meeting on July 20 • Approved the Minutes of the Executive Finance Committee Meeting on July 31 • Approved the abbreviated financial statements for June, 2023 • Approved fund transfers exceeding $10,000 • Approved recording of liens on accounts P2801211606910 and P280121616220 • Received the minutes of the Construction Team meetings and authorized their posting on the website • Accepted a proposal from Dils Roofing to address Clubhouse roofing issues for an amount not to exceed $38,950 • Accepted a proposal from O'Connell Landscape Maintenance ("OCLM") to overseed the tees with perennial ryegrass in October for an amount not to exceed $6,980 • Approved installation of a French drain by OCLM for an amount not to exceed $1,920 with the HOA supplying the parts • Accepted a proposal from Holmes Landscaping to perform the annual tree maintenance for an amount not to exceed $45,600.30 • Accepted a proposal from Atlas Tree Service to oversee the annual tree maintenance for an amount not to exceed $6,440 • Approved removal of two golf course trees by OCLM for an amount not to exceed $1,145 • Upheld the appeal of a homeowner of an Architectural Review Committee denial of a permit for a shade structure • Authorized the replacement of pool signs for an amount not to exceed $7,450.69, subject to consultation between management and the Image and Marketing Committee prior to ordering, to occur no later than 8/31 • Accepted a proposal from Cox Communications to revise our bulk cable service agreement at an approximate savings of $75,000 annually • Postponed indefinitely a proposal from Cox Communications to provide bulk internet services for $35 per user per month pending further information and analysis • Authorized placement of the California Disaster Preparedness Guide on the website and holding a Town Hall style meeting to allow SERT to present it to the community • Responded to a homeowner's request by authorizing modifications to a Thebes Way street sign monument at the intersection with Demeter Way • Authorized the removal of two pine trees in the common area behind 4992 Lamia Way with the agreement of the affected homeowner to reimburse the HOA up to $1,500 for the removals and to provide an additional $500 for the acquisition of replacement trees. We held our Annual Meeting of the Membership in Abravanel Hall on Aug. 17. The election results with 1,072 votes cast were as follows (in alphabetical order): Greg Kusiak* 724 votes John Lesser* 787 votes Don Lopez 457 votes Mariann Michaels* 500 votes Gretchen Webster 476 votes Allen Wilson* 817 votes Following the election of the four directors, the Board held an organizational meeting and elected the following officers: Greg Kusiak President Scott Goldwasser Vice President Ann Collins Treasurer John Lesser Secretary In addition, the Board appointed the Executive Finance Committee consisting of the President, the Treasurer and Director Allen Wilson. The next Regular Meeting of the Board will be Thurs., Sept. 21. Thank you for your interest in the affairs of your Association. Continued from previous page

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