RESERVE The planned Expenditures for Reserve were set at $862,197, of that we have spent $392,835, leaving $485,120 yet to be spent.
Reserve Projects Completed Golf course and common area
$ 136,200 $ 22,800 $ 20,000 $ 95,500 $ 23,000 $ 95,300 $ 392,800
Pool/Spa
Building maintenance Laundry Equipment Computer Equipment
Tennis
TOTAL
Yet to be completed is Electrical and Plumbing repairs, Fountain and road sign repairs, Miscellaneous building repairs, East Room refreshing, resurfacing/replastering of the LP Pool deck, repairs and painting of fences at all Satellites, road repairs, re-sealing and other minor yard work. YEAR END FORECAST Our forecast for the fiscal year end of June 30 th using actual results through Feb-21 and then extrapolating subsequent months from previous 3 months average, indicate a Year End Net Income of $50,919 against a budget of $108,342 giving us a variance of -$57,423.
All-in-all it appears as though we could come out of this extraordinary year in reasonably good shape.
Thank you
Charles Hare, Treasurer
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