Listed below is a financial update for the association (January 1, 2021, thru June 30, 2021) in PDF format. We had a very positive start with both Income and Expenses ahead of the budgeted plan. Total income was $159,987 versus a budget of $149,448.
The Board has spent a lot of time and effort in working with the residents in arrears and as a result, we have reduced our unpaid assessment to $25,756 from our 2020 year-end balance of over $37800. In August, we will be mailing statements to those still in arrears, requesting payment, and other payment plan options available.
We had actual expenses of $50,554 verses a budget of $74,956. Part of that total expense positive position resulted from the fact we were unable to complete the budgeted Splash pool ($10,000) plus we have not completed the review Audit ($6000).
The review by the outside auditing firm is in process and is expected to be complete by the end of August. The HFLA Board plans to send out a summary of the review once it becomes available. For residents interested in viewing the full review, it will be made available by request.
Highland Forest Board of Directors