22 FOUR SEASONS BREEZE | OCTOBER 2015
From our August meeting: The financial statements for July were
reviewed and reflected the following significant items: net income
year-to-date was $3,598 and total reserves were $4,940,579. The
accounts receivable (delinquencies) was $43,452. Our total HOA
expenses for July (excluding reserve allocations) were $256,394. This
was under budget by $32,137. The front yard cost center expenses for
July were under the monthly budget by $3,370. The Springdale Cost
Center Expenses for July were under the monthly budget by $891.
There were no CD renewals to be reviewed. Recommendations for
reinvestment of money market account balances will be discussed
at the next meeting. There were six vendor proposals presented
and recommendations were forwarded to the BOD. A report on
the accounts receivable was given by Wayne Staples indicating that
a large pay off of over $9,000 was received during the month. Two
other large-balance accounts may move off the list as the homes
enter foreclosure; monthly payments to the association for both
would likely resume following foreclosure action. The 2016 reserve
study for front yard and Springdale cost centers was reviewed and
the consensus was that little had changed in the reports from the full
reviews of last year. The Finance Committee unanimously approved
both studies with no changes and recommended to the board that
existing funding policies remain in effect through next year.
Our next meeting is Oct. 27 at 1 pm in the Lodge Conference Room.
~ Noel Myers
Finance Committee
