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4 | OHCC LIVING | NOVEMBER 2024 | Continued from previous page The Board held its Regular Monthly Meeting on Sept. 19 and took the following actions: • Approved the Minutes of the Regular Monthly Meeting on Aug. 14 • Approved the Minutes of the Executive Finance Committee meeting on Aug. 27 • Approved the abbreviated financial summary for July 2024 and funds transfers exceeding $10,000 • Approved sending the following accounts to Witkin & Neal to initiate non-judicial foreclosure, when eligible: • P280121602840 • P2801216069202 • Approved a revised Oath of Office for Directors • Accepted the resignation of a member each from the Landscape and Audio-Visual Committees • Made some reassignments of committee liaisons now that the Board has its full complement of seven Directors • Upheld the decision of the RV Lot Committee regarding space for a vehicle not exclusively owned by a resident. The Board met in executive session on Oct. 14 and took the following actions: • Approved the Minutes of the executive session on Sept. 16 • Issued fines for 10 Stop sign violations of $75 each • Reviewed delinquencies and denied a request for reversing a Pre-Lien Fee • Received a project update from Ken Wright • Approved refurbishment of the guardhouses and their electronic equipment in the amount of $ 23,695 (long overdue and necessary prior to the installation of the new access control system) • Discussed proposals for additional fiber optic service • Reviewed and accepted an upcoming fee increase from legal counsel • Reviewed the status of Well Tec discussions and agreements • Discussed the retention of a construction manager to complete the well and lake projects • Reviewed the status of Keystone staffing complement • Approved the installation of a supplemental drain adjacent to the greenbelt behind Galicia Way • Deferred action on a revised maintenance agreement for the Clubhouse fitness equipment • Discussed a proposed renewal of the O'Connell Landscape Maintenance contract • Reviewed the status of a pending Alternative Dispute Resolution process • Discussed the legal status of driveway ramps • Discussed the status of the Delos crib wall analysis • Discussed a request regarding a space in the RV Lot received from a resident's attorney • Reviewed safety lighting in Abravanel Hall. Thank you for your interest in the affairs of your Association. The Executive Finance Committee met on Sept. 27 to review Aug. 31 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 fifth month of the fiscal year is $ 81,324. The major reason for this variance is a continued increase in water expense (budget 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 Aug. 31, 2024 is $ 695,983. Currently the state of the Association's finances remains sound and stable. Treasurer's Report By Ann Collins, OHCC Treasurer Balance Sheet: August 31, 2024 Operating Cash and Receivables $ 1,164,316 Reserves and Other $ 4,003,163 Total Assets $5,167,479 Reserve Obligations $ 3,818.123 Current Liabilities $ 653,373 Total Liabilities & Obligations $ 4,471,496 Equity $ 695,983 Income Statement: Five months ended August 31, 2024 Budget Actual Variance Income $ 4,181,621 $ 4,204,773 $23,152 Expenses $ 4,203,762 $ 4,145,590 $58,172 Net $ (22,141) $ 59,183 $ 81,324

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