April 19, 2023
Dear Residents,
Please see below for corrections and updates to the financial reports after noticing there were typographical errors on what was sent out earlier. Thank you for your understanding!
January 2023 Financial Update
Dear Neighbors,
Here is our January financial update. Our net income for the period ending January 31, is $4,312. As always, if you would like to see the details behind any of the figures below or have any questions at all, please do not hesitate to reach out to Scott at ScottA.Matthews@fsresidential.
Balance Sheet Update – a view of our key assets & liabilities
- Assets:
- Cash in Banks: $446,056 ($142,931 reserves)
- Accounts Receivable: $188,316 (i.e. prior years’ dues/fees)
- Liabilities:
- Accounts Payable: $0
Income Statement Update – a view of our key (i.e. largest) income and expense accounts
- YTD 2023 Income:
- Current Year Association Fees: $363,716
- Transfer Fee Income: $3,401
- Prior Year’s Dues/Fees/Violations: $91,785
- Current Year’s Fees and Violations: $10,812
- YTD 2023 Expense:
- Compliance payroll: $8,011(YTD Budget = $6,583) *because of January’s two paid holidays
- Lawn/Snow/Grounds Maintenance: $19,006 (YTD Budget = $16,541) *because of bulk salt purchase
- Admin./Management: $10,076(YTD Budget = $14,750)
- Trash Removal: $9,940(YTD Budget = $8,208) *includes Christmas week pickup
- Insurance: $2,865 (YTD Budget = $3,184)
- Propane: $2,009 (YTD Budget = $917) *two month fill up
- Legal Expense: $224(YTD Budget = $1,708)
- Water/Sewer: $591 (YTD Budget = $500)
- Legal Collections: $5,739 (YTD budget $4,167)
February 2023 Financial Update
Dear Neighbors,
Here is our February financial update. Our net income for the period ending February 28, is $12,962. As always, if you would like to see the details behind any of the figures below or have any questions at all, please do not hesitate to reach out to Scott at ScottA.Matthews@fsresidential.
Balance Sheet Update – a view of our key assets & liabilities
- Assets:
- Cash in Banks: $454,326 ($254,659 reserves)
- Accounts Receivable: $184,534 (i.e. prior years’ dues/fees)
- Liabilities:
- Accounts Payable: $0
Income Statement Update – a view of our key (i.e. largest) income and expense accounts
- YTD 2023 Income:
- Current Year Association Fees: $366,030
- Transfer Fee Income: $3,401
- Prior Year’s Dues/Fees/Violations: $91,785
- Current Year’s Fees and Violations: $23,432
- YTD 2023 Expense:
- Compliance payroll: $16,020 (YTD Budget = $13,166 *three paid holidays ytd)
- Lawn/Snow/Grounds Maintenance: $36,269 (YTD Budget = $33,166) *because of bulk salt purchase
- Admin./Management: $13,572(YTD Budget = $24,166)
- Trash Removal: $15,266(YTD Budget = $16,416)
- Insurance: $5,730 (YTD Budget = $6,368)
- Propane: $2,009 (YTD Budget = $1,834)
- Legal Expense: Credit on account $295(YTD Budget = $3,416)
- Water/Sewer: $821 (YTD Budget = $1,000)
- Legal Collections: $12,537 (YTD budget $8,334)
Sincerely,
Marissa Johnson
Assistant Community Manager
