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COMMUNITY NEWS | FOUR SEASONS BREEZE | JANUARY 2015 21 Items discussed at the November meeting: The financial statements for October were reviewed and reflected the following significant items: net income year-to-date was $164,104 and total reserves were $4,605,888. The accounts receivable (delinquencies) was $51,171. Our total HOA expenses for October (excluding reserve allocations) were $200,774. This was under budget by $54,062. The Front Yard Cost Center expenses for October 2014 were under the monthly budget by $3,967. The Springdale Cost Center Expenses for October were under the monthly budget by $106. There were nine CD renewals reviewed and a recommendation to renew at the best prevailing rate not to exceed six months was sent to the Board. There were two vendor proposal presented and sent to the Board with recommendations for approval. Accounts Receivable update, there are no new delinquencies. General Manager Jeri Mupo provided the following input to financial reporting issues noted at the last meeting: 1. Telephones: This inquiry remains a work in progress. Subsidiary phone numbers are not yet matched to the function; however, progress is being made and a report should be available by next meeting. 2. Electricity: We are in a high cost tier for our electricity usage, likely because our usage levels are high. Air conditioning zone balancing is a large source of the problem. Jeri will bring in the A/C service contractor to assist in resolving the issue. Wayne Staples gave an update on the RCN (Rec Center North) project. The contractor has been selected and the contract sent to the vendor for acceptance. Work was scheduled to commence Dec. 1. Our next regularly scheduled meeting will be held Jan. 27, at 1 pm in the Lodge Conference Room. All homeowners are encouraged to attend. ~ Noel Myers Finance Committee