2016 January – June Financial Report

Hello Everyone!

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.

Again, thank you to everyone following the blog. Please consider adding your email address to the 21 current followers (welcome to the newest one!), so you can be notified as soon as a post is published. We encourage you to share this information with your lessees, especially when the posts focus on Timberidge community matters.

Thank you – Timberidge HOA Board

Reserve Study – Tuesday, July 12, 2016

This notice has been blind copied to all Timberidge Townhomes HOA members with registered email addresses.

Dear Homeowners,

Your HOA has hired Criterium Dotson Engineers (http://criteriumdotson.com/) to conduct a Reserve Study for your HOA. On Tuesday, July 12, 2016, they will be inspecting all exterior buildings and HOA property. Please leave your fence gates unlocked for this day, so that the Engineer may poke his head in to take a look at your concrete pad and wooden fence.

For more information on Reserve Studies, please see attachment: What Is a Reserve Study In Your HOA.

A reserve study is a long-term capital budget planning tool which identifies the current status of the reserve fund and a stable and equitable funding plan to offset ongoing deterioration, resulting in sufficient funds when those anticipated major common area expenditures actually occur.

Thank you very much for your time, and please let us know if you have any questions.

Kind Regards,

John Mackenzie

President

Secure Association Management

4251 FM 2181, STE 230/309

Corinth, Texas 76210

Local/Fax: 940-497-SECURE (7328)

Cell: 940-595-0584

Toll Free: 1-800-713-0582

http://secureassociationmanagement.com/