4 | OHCC LIVING | MAY 2025 |
The Executive Finance Committee
met on March 31, 2025 to review
February 28, 2025 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 eleventh month of the
fiscal year is $ 211,635. Additional income was realized from higher
interest rates. Water expense increases have continued. Expense
savings were realized from efficient use of personnel and open
positions of Keystone staff. The Equity balance at Feb. 28, 2025 is
$ 854,717. Currently the state of the Association's finances remains
sound and stable.
On February 5, 2025 the Master Board of Directors approved the
budget for 2025-2026. The change in the Master Board monthly
assessment was only $10 to $514, an increase of less than 2.0 percent.
This includes sufficient funds for full operations and reserves.
Thanks again to the Budget and Financial Advisory Committee
(BFAC) committee members and the General Manager and staff for
their business and financial 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: February 28, 2025
Operating Cash and Receivables $ 1,390,215
Reserves and Other $ 4,373,867
Total Assets $5,764,082
Reserve Obligations $ 4,352,075
Current Liabilities $ 557,290
Total Liabilities & Obligations $ 4,909,365
Equity $ 854,717
Income Statement:
Eleven months ended February 28, 2025
Budget Actual Variance
Income $ 9,199,566 $ 9,263,224 $ 63,658
Expenses $ 9,193,284 $ 9,045,307 $ 147,977
Net $ 6,282 $ 217,917 $ 211,635
