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Sumitted by: Craig Nelsen
February 5, 2020 (For 2019 – Year End)
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December 31, 2019 — Account Balances:
| Checking/Savings | |||
| 1011 · Operating Account – #9557 | 9,247.92 | ||
| 1040 · Savings – Sterling – #4661 | 40,190.94 | ||
| Total Checking/Savings | 49,438.86 |
- Jan 1, 2019 Account Balances totalled $ 48,556
- Net Cash difference in cash balances (this year) = + $ 883
- Discrepancies between bank balances and the P&L statement are due to accrual accounting method used (primarily deposits made at year-end recorded but not shown in 12/31 statements).
HOA Income and Expenses highlights:
- Real Estate Taxes continue to be low based on the implementation of the conservation easement and rezone of the park property accomplished in 2017.
- Most budget categories were pretty accurate, and with the exception of landscaping, savings were realized.
- Tax return Prep and some insurance cost (payments) may be incurred in 2020, deferred from 2019
- Landscaping costs continue to be our largest expense. We went over budget by $2000 for landscaping service in 2019. We did buy picnic tables for the park this year.
- Dues collected in 2019 matched our budget nicely. While some members remain ‘non-paying’ members, dues collection came in at almost $12,000 ($1000 over amount budgeted)
- The net result for 2019 is a slight improvement in our financial picture and an HOA nearing stability / sustainability.
Next: 2020 Budget Proposal