| OHCC LIVING | JULY 2024 | 5
The Executive Finance Committee
met on May 28 to review April 30, 2024
financial statements. This review included
comprehensive explanations of variances from the budget. Abbreviated
financial statements are posted on the website.
The total variance from budget as of one month of the fiscal year is
$63,276. The major reason for this variance is time-phasing estimates of
water usage.
The Equity balance at April 30, 2024 is $740,759
Currently the state of the Association's finances remains sound and stable.
Treasurer's
Report
By Ann Collins, OHCC Treasurer
Balance Sheet: April 30, 2024
Operating Cash and Receivables $ 1,221,337
Reserves and Other $ 4,667,246
Total Assets $5,888,583
Reserve Obligations $ 4,591,693
Current Liabilities $ 556,131
Total Liabilities & Obligations $ 5,147,824
Equity $ 740,759
Income Statement:
One month ended April 30, 2024
Budget Actual Variance
Income $ 836,324 $ 834,483 $ (1,841)
Expenses $ 803,385 $ 738,268 $ 65,117
Net $ 32,939 $ 96,215 $ 63,276
