Finance Committee: March 2016 Update

The Finance committee is pleased to announce that the financial results for calendar year 2015 were under budget. Income was better than anticipated due in part to investment interest exceeding expectations. We experienced expense savings in utilities, workers compensation insurance, drainage issues, reclaimed irrigation water, reduced bad debts and lower unexpected expenses. Legal expenses exceeded the budget due to slope matters. In the end, a small surplus was moved to reserves.
The revetment legal expense was completely covered through the special litigation funds that had been rolled over from prior years. The remaining special litigation funds have again been rolled over for use in 2016.
The complete financial statements will be mailed to Association Members in late April after the completion of the independent audit of the 2015 financial statements.
We are very fortunate to be living in a community that has active volunteers and an excellent staff to keep our community well run and a desirable place to live.
Thank you all for doing such a wonderful job!
—Sue Kichline