Overall, performance to budget was favorable in 2019.
REVENUE – revenue was slightly underbudget due to the non-payment of dues by a select few residents. Efforts are being made to catch-up outstanding balances with those residents.
EXPENSE – While most expenses for the year were below budget, updates to the entryways caused that category to be slightly above budget. Legal fees for the revision of the covenants were under budget due to a timing issues and these fees will continue into 2020. Expenses related to landscaping for the “Pocket Park” were down in 2019 due to an ownership dispute. The property is owned by The Nevada Ditch Company; but they have refused to maintain the land. To ensure the space does not become unsightly, the HOA has assumed responsibility for landscaping that space going forward.
Ending blanace for the operating account was $4,941.15. There are currently no reserves set-up for the HOA.
Link to the file here.