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4 | OHCC LIVING | OCTOBER 2024 | Continued from previous page • Approved the Minutes of the Executive Finance Committee meeting on July 22 • Approved the abbreviated financial summary for June 2024 and funds transfers exceeding $10,000 • Approved to send each of the following accounts to Witkin & Neal to initiate non-judicial foreclosure, when eligible: P280121601700; P280121610701; P280121615560 • Approved the updated master insurance policy coverage • Returned a proposal to SERT regarding storage of emergency response materiel to explore alternative sites • Received a final report from the 40th Anniversary Committee • Appointed Linda Slayton to the Community Services Committee • Approved a proposal from O'Connell Landscape Maintenance to remove and stump grind 5 golf course trees and crown reduce two others at a cost not to exceed $4,402 • Approved a proposal from O'Connell Landscape Maintenance to remove a large Ficus tree in the common area adjacent to the Village of Cyrus at a cost not to exceed $2,200 • Approved a proposal from O'Connell Landscape Maintenance to remove four eucalyptus trees on the edge of the RV lot which are causing root damage to the paved surface at a cost not to exceed $3,720 • Approved an LPR (License Plate Recognition) system and a new gate barrier system for the front and back gates at a total cost not to exceed $123,354 with a monthly software subscription fee of $1,030 • Reviewed and approved edits to the recently revised Mission Statement as recommended by legal counsel • Reviewed correspondence regarding community landscaping maintenance and driveway ramps and directed that all homeowners with unapproved driveway ramps be notified to remove them. The Annual Meeting on Aug. 15 met its quorum requirement with 1,003 votes cast, with the following result: Ann Collins ......................699................ 69.7% Scott Goldwasser ..............673................ 67.1% Jay Kuhlman ....................498................ 49.7% Mike Ackerman ...............440 ............... 43.9% Lois Russell ......................421................ 42.0% The new Board was sworn in, convened its organizational meeting and held elections for Association officers: Greg Kusiak, President; Scott Goldwasser, Vice President; Ann Collins, Treasurer; Allen Wilson, Secretary. In addition, Allen Wilson was appointed by the Board to serve on the Executive Finance Committee. The Board held a special session on August 22nd to consider filling the vacant Director term expiring in August 2025. Lois Russell was appointed to fill the vacancy and was sworn in. The Board welcomes Lois and looks forward to operating at full strength again. It is a privilege to be elected to serve as the President of your Association for the coming year. Thank you for your interest in the affairs of your Association. The Executive Finance Committee met on Aug. 26, 2024 to review July 31, 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 the fourth month of the fiscal year is $ 133,850. The major reason for this variance is an increase in water usage (time-phasing based on previous years usage) Other contributing factors are more efficient use of Keystone staff and higher interest rates. The Equity balance at July 31, 2024 is $ 784,702. Currently the state of the Association's finances remains sound and stable. I have been re-elected as the OHCC Treasurer. I look forward to continuing to serve the OHCC community in the future . Treasurer's Report By Ann Collins, OHCC Treasurer Balance Sheet: July 31, 2024 Operating Cash and Receivables $ 1,187,098 Reserves and Other $ 4,098,636 Total Assets $5,285,734 Reserve Obligations $ 3,900,087 Current Liabilities $ 600,945 Total Liabilities & Obligations $ 4,501,032 Equity $ 784,702 Income Statement: Four months ended July 31, 2024 Budget Actual Variance Income $ 3,345,297 $ 3,358,129 $12,832 Expenses $ 3,331,244 $ 3,210,226 $121,018 Net $ 14,053 $ 147,903 $ 133,850

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