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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

pdfFinancial Update for the Association (January 1, 2021, thru June 30, 2021)