Finance Committee: Financial Results 2017

The Finance Committee is pleased to announce that the financial results for calendar year 2017 were very favorable. Income was better than anticipated due to interest income from investments exceeding expectations.
Additional expense savings were realized in workers’ compensation insurance, legal fees and no write-off of homeowner accounts.
The revetment legal fees were completely covered by the homeowner’s special assessment made a few years ago. This is an ongoing legal issue and there are still remaining special litigation funds which will be used to cover any revetment legal fees in 2018.
The complete financial statements will be mailed to Association Members in late April after the completion of the independent audit of the 2017 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.
—Sue Kichline