Financial Notes

For Jan. 2020...

We have completed our first month of the 2020 budget. So how are we doing?  I will note that this blog is the only place you will see anything about our finances. Each month the Board is presented a financial report that details income and spending for the previous month. They receive this report several days before each Board Meeting.  This gives them some time to review it before and questions or review at the Board Meeting. This is the most important function of the Board, yet receives little discussion during the Board meetings.

The entire report is about 30 pages long. I will just hit on some of the items that you and I may find of interest. As the year continues, especially during the last quarter, there needs to be close attention to stay within budget. This has not been done in the past. 

How much money do we have?

2,394,927.10
This money is located in over 20 accounts in different banks and different CD's.
They range from 5.06 in a savings account to 597,517.59 in the Bank Of Pacific for operations.  The large amount is due to member payments and it will be dispersed to different accounts to stay within the insured limits. 

At first glance, you may think this is a lot, but it is not.  Out of the total, we will spend a budgeted 1,729,65 budgeted for this year of 2020.  809,588.07 remains to be collected during this year. We will probably collect over 98% of the outstanding member dues ande assessments, plus other income.

Expenses of interest:

Computer services for the Business Office were 9,255.35 in Jan..
Legal Fees were 3,975.20
8,630.0 for patrol. (would guess total final compensation with vacation etc. in Dec. 2019)

Other dept. expenses:

All departments are operating within their budgets.

Warrant's and checks of interest:

telephone service for office and water dept.  519.77
fire hydrant  2,262.84 plus labor to install.
website update  680.00
asbestos classes  625.00
mitigation banking credits  20,495.00  (well field wet lands)
dog waste bags  419.56