Treasurer’s Report, May 2019


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%.

Jarret Tomalesky, LHCC Treasurer

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