| OHCC LIVING | MARCH 2025 | 5
e Executive Finance Committee met
on Jan. 27, 2025 to review December 31,
2024 nancial statements. is review
included comprehensive explanations of
variances from the budget. Abbreviated
nancial statements are posted on the website.
e total variance from budget as of the ninth month of the scal
year is $ 197,213.
Additional income was realized from higher interest rates. Water
expense increases have continued. Expense savings were realized from
ecient use of personnel and open positions of Keystone sta.
e Equity balance Dec. 31, 2024 is $ 790,287.
Currently the state of the Association's nances remains sound and
stable.
On Feb. 5, the Master Board of Directors approved the budget for
2025-2026. e Master Association monthly assessment will rise only
$10 to $514, an increase of less than 2.0 percent. is includes sucient
funds for full operations and reserves. anks again to the Budget and
Financial Advisory Committee (BFAC) committee members and the
General Manager and sta for their business and nancial expertise
and assistance with preparing this budget. Details of the budget are
posted on the website.
Treasurer's Report
By Ann Collins, OHCC Treasurer
Balance Sheet: December 31, 2024
Operating Cash and Receivables $ 1,179,762
Reserves and Other $ 4,241,849
Total Assets $5,421,611
Reserve Obligations $ 4,191,176
Current Liabilities $ 440,148
Total Liabilities & Obligations $ 4,631,324
Equity $ 790,287
Income Statement:
Nine months ended December 31, 2024
Budget Actual Variance
Income $ 7,526,918 $ 7,577,378 $ 50,460
Expenses $ 7,570,644 $ 7,423,891 $ 146,753
Net $ (43,726) $ 153,487 $ 197,213
