2015 June Budget Performance

Hello Everyone!

We are posting the June 2015 balance sheet and budget performance documents. Our net income as of June 30, 2015, is negative $128,239, due to the retaining wall project. As you know, we used a private loan and reserves from special assessment payments in 2014 and 2015 for the project, but the budget will officially show a loss because it reflects 2015 only.

You will see that our total checking and savings is $35,856, after receiving the $40,000, private loan for Phase 1 of the retaining wall project and submitting the final payment to Orduno, Inc. The loan made it possible to confidently pay for the structural phase of the retaining wall and have reserve capital as required by Texas.

The Board is still in the process of gathering estimates for capital improvements to make better decisions about budgeting and maintaining reserves. More posts to come very soon!

Thank you! – Timberidge HOA

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