By Scott Cannon, Treasurer

 

Over the last few months, the Finance Committee has worked with William Douglas Property Management to get expenses for 2025 linked to the appropriate general ledger codes. We also have made bank transfers between our reserve accounts to place the appropriate funds in each account. 

 

In November, we opened three additional $30,000 CDs to earn a higher interest rate than the saving account where the money previously was placed. This money came from our operational funds, and about $121,000 remained in that account to pay our monthly bills.  By moving funds into CDs, the association has earned more than $5,200 in interest this year.  In 2024, when we started investing in CDs, we earned around $2,900 in interest. And in 2023, we earned only around $200 in interest.

 

The December 2025 financial statement won’t be available until later due to all the year-end checks William Douglas does to finalize the statements for the year.

 

Upcoming activities for the Finance Committee include:

• Continue to work with Casey Ferrara, our representative at William Douglas, on our monthly financial statements, ensuring items are categorized correctly. The financial statements typically come out around the 15th of each month for the previous month.

• Compare the remaining funds from 2025 at year end with outstanding items that were approved for 2025 but have not yet been invoiced. Examples include 50% of the cost of the infrastructure Transition Study and expenses for working on the clubhouse front door.

 

Our objectives are:

• Be financially responsible.

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

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

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

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