| OHCC LIVING | DECEMBER 2025 | 5
The Executive Finance Committee met on Oct. 28 to review
Sept. 30 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 for six months of the fiscal year
is $(74,845).
During the six months ended Sept. 30 additional income was
realized from higher interest rates. Required tree removals, tree
trimming, landscaping replacements increased expenses. In
addition, unexpected soil remediation costs in the amount of
$108,802 increased expenses.
An updated Summary of the Lake/Well Project through Sept.
30has been posted to the OHCC website. It should be noted that
Lake/ Well charges were classified as capital in accordance with
Note 4 of the March 31 certified audit. Capital improvements are
defined as items or elements which are new to the development and
does not include remodel, reconstruction, replacement, removal,
upgrade or refinish of existing Association improvements.
The equity balance at Sept. 30 is $92,922
Currently the state of the Association's finances remains sound
and stable.
I resigned as Treasurer on Oct. 31. During my term as Treasurer,
I always tried to be factual and transparent. I am confident that
the financial statements I presented each month and the current
analysis of the Lake/Well Project have achieved that goal. It has
been a pleasure serving the OHCC community.
Treasurer's
Report
By Ann Collins
Balance Sheet: September 30, 2025
Operating Cash and Receivables $ 807,817
Reserves and Other $ 5,062,523
Total Assets $5,870,340
Reserve & Capital Obligations $ 5,011,049
Current Liabilities $ 766,369
Total Liabilities & Obligations $ 5,777,418
Equity $ 92,922
Income and Expense Statement:
Six months ended September 30, 2025
Budget Actual Variance
Income $ 5,130,671 $ 5,150,450 $ 19,779
Expenses $ 5,296,508 $ 5,391,132 $ (94,624)
Net $ (165,837) $ (240,682) $ (74,845)
