By Scott Cannon, Treasurer

 

The Courtyards at Southpoint Finance Committee has been busy responding to issues that are important for the health and vitality of our homeowners association. Here’s an update of actions we’ve taken this summer and where we are going as we enter the fall.

 

What we’ve been up to:

• Welcomed new members Wayne Morgan, Kristen Lahey and Mike Thompson. We’re grateful to Judy Orser and Chris Newborn for remaining on the committee!

• Worked on updating the financial statement general ledger codes. This makes it easier to categorize items in a way that makes sense to clearly show where money is being spent.

• Completed a one-time transfer of money from the operational — checking — account to the general reserve account. This enabled us to align the amount of money budgeted in previous years to match the amount contributed to the reserve account.

• Revamped reimbursement requests so that they come to the treasurer for review. For routine reimbursements, the request form will be filled out and sent to William Douglas to process. If the request is for something the HOA board agreed to move forward with but isn’t a routine day-to-day expense, the request will be sent to the rest of the board to approve and then will be sent to William Douglas to process.

• Met July 30 to go over the June financial statement and Aug. 6 to start the draft budget for 2026.

• Secured a refund from William Douglas for $1,550 for over-charging the association for ARC requests.

• William Douglas ran the late-payment notification process for the first time July 29.

 

Upcoming activities for the Finance Committee:

• Work with William Douglas on the monthly financial statements.

• Do additional work on the 2026 budget. It’s a big job!

 

Objectives:

• Maintain HOA fees at the current amount, $220 per month.

• Ensure reserve funds are allocated to cover HOA-mandated obligations.

• Determine/identify community “wants” and “needs” and prioritize the HOA yearly budget based on income and expenses.

 

Goals:

• Continue to be financially responsible and ready, now that the HOA board membership has transitioned to homeowners.

• Ensure the community maintains its wellness and grows its property value.