4 | OHCC LIVING | JUNE 2025 |
e Executive Finance Committee met on April 28 to review
the March 31 nancial statements. is review included
comprehensive explanations of variances from the budget.
Abbreviated nancial statements are posted on the website.
During the scal year ended March 31, 2025 water expenses
were higher, income was realized from higher interest rates and
ecient use of Keystone personnel resulted in lowering expenses.
e Master Board voted to increase the future reserve balance
to 43 percent by charging $400,000 to reserve funding during
March 2025 . Although this resulted in a total variance from
budget at the scal year ended of $ (223,286), the Equity balance
at March 31, 2025 is $468,129. is is approximately $100,000
over the Board policy required minimum balance.
Currently the state of the Association's nances remains sound
and stable.
Treasurer's Report
By Ann Collins, OHCC Treasurer
Balance Sheet: March 31, 2025
Operating Cash and Receivables $ 970,076
Reserves and Other $ 4,878,607
Total Assets $5,848,683
Reserve Obligations $ 4,865,847
Current Liabilities $ 514,707
Total Liabilities & Obligations $ 5,380,554
Equity $ 468,129
Income and Expense Statement:
Year ended March 31, 2025
Budget Actual Variance
Income $10,035,890 $ 10,102,858 $ 66,968
Expenses $ 9,981,275 $ 10,271,529 $ (290,254)
Net $ 54,615 $ (168,671)$ (223,286)
