March 16, 2023
Dear Residents,
Please see below for the year-end financial report:
December 2022 Financial Update
Dear Neighbors,
Here is our December financial update. 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: $182,633 ($139,119 reserves)
- Accounts Receivable: $227,573 (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 2022 Income:
- Current Year Association Fees: $648,539
- Transfer Fee Income: $33,949
- Prior Year’s Dues/Fees/Violations: $88,315
- Current Year’s Fees and Violation: $122,136
- YTD 2022 Expense:
- Security: $139,160(YTD Budget = $149,000)
- Lawn/Snow/Grounds Maintenance: $177,986(YTD Budget = $172,000)
- Admin./Management: $145,843 (YTD Budget = $141,672)
- Trash Removal: $97,543 (YTD Budget = $90,000)
- Insurance: $34,345(YTD Budget = $35,567)
- Propane: $10,644 (YTD Budget = $7,000)
- Legal Expense: $28,978 (YTD Budget = $24,500)
- Water/Sewer: $12,667 (YTD Budget = $6,000)
- Legal Collections: $54,049 (Offset by past due receivables of $88,315)
Sincerely,
Marissa Johnson
Assistant Community Manager
