Treasurer’s Report, May 2019

I

Written by Board Treasurer

On May 20, 2019

April Financial Highlights

Overall Lake Holiday’s financials continue to be in great shape.  Total revenue for the period was $195,535 roughly 2% above budget; however, homeowner delinquency rates remain elevated, and are still trending in the double digits.  This has resulted in accounts receivables increasing by 24% or $37,208 over the first four months of fiscal year 2019.

Operating expenses for the period increased by 19% over March, the increase is attributed to tree removal & trash removal.  The total operating expenses for April were $144,709, which was 4.5% under budget.  Cash flows for the period showed a net decrease of $5,992 and total liabilities have dropped to $431,390 equal to 10% of net assets.  The decrease in cash-flows was attributed to $13,732 in capital improvement project expenses, and $53,839 in replacement reserve expenses, all of which were anticipated.  The expenses incurred to the reserve fund were restoration work on Yeiders Run and the scheduled replacement of a wood chipper.

One final note, a CDAR matures this month with a current yield of 1.85%, it will be reinvested with a yield of 2.25%, this brings the average yield on all LHCC’s investments to 2.10%.

Respectfully,
Jarret Tomalesky, LHCC Treasurer

You May Also Like…

President’s Report, May 2021

With summer arriving in three weeks, I know we are all looking forward to being outdoors as much as possible and hopefully returning to some of the activities that will give us back a sense of normalcy. The Dog Park on Country Club Drive has opened. Some community...

General Manger’s Report, May 2021

Beach II Area Issues Reported Staff has recently received several reports regarding loud noise, vulgar language, and obnoxious music/behavior, coming from the Beach II area late in the evenings and at night.  This has reportedly occurred each weekend for the past...

President’s Report, April 2021

by Richard Traczyk As we advance into spring, the vaccine rollout has offered renewed hope amid so much uncertainty and our upside-down lives. Here at Lake Holiday, the Fitness Center is now open, the Dog Park is ready for both small and large dog breeds, food trucks...