We are posting the January though June Financial Report with a spotlight on June 2016. Our total assets as of June 30, 2015, are $56,262.34. The Operating Account balance was $34,690.25, and the Reserve Account balance was $12,350.99.
The Board is very pleased with the dramatically improved financial reporting from Secure Association Management. Now, we can predict income for the rest of the year much easier. Included in the report is a revised budget reflecting current income and expense trends for Timberidge. In particular, John Mackenzie, our Managing Agent, has helped us reduce Common Area Maintenance by more than half since taking over in April. Though we are not reducing the budgeted amount due to roof repairs/replacements, etc., the savings directly affects how quickly we can begin other capital improvement projects.
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Thank you – Timberidge HOA Board