Financials

The Financials include Plans, Financial Reports (Audits), and Reserves.

The annual revenue and expenditure Plans are developed by the Board of Directors and subject to approval by the Council of Owners at the annual meeting in November. Since we do not conduct any income-earning activity, almost all of our revenue comes from owner dues and occasional fees, with a minimal amount of interest from operating accounts we maintain to pay our bills. Any revenues remaining after paying our bills for the year are transferred to Reserves.

The Financial Reports are prepared by independent Certified Public Accountants (CPA) and are generally finalized near the end of the following year. They reflect the financial status of the Association.

Our Reserves are intended only for replacement of our inventory of physical assets (the buildings, amenities, and site improvements) as they age. Our reserve inventory is evaluated regularly for condition and replacement cost to ensure that we are financially prepared to meet periodic needs without special assessments. Our reserve funds are invested in US Government securities.