Members: Look at the Monthly Financials!!!

Every month the HOA's financials are published on the HOA's website. Do you ever look at them? Do you understand them?

There are many times I have wondered whether all the board members understand them. Or even review them! There are never any comments from board members at board meetings. And seldom from anyone in the audience.

Where can you view the financials? Go to the HOA's website. Hover over RESIDENTS. Click on DOCUMENTS. Click on Financial Operating Results.

Looking at the results for September 2024, the first important page for your attention is Page 1. Examine the category of Operating Expenses. These are significant variances (over-spending) from the Approved 2024 Budget.

Note that 2024 began with a $27,000 Deficit (which is not allowed in the rules and regulations of the HOA, as stated in the PRM).

If the year started with a deficit and all these categories are over-budget, where is the money coming from?

Are you misled by the minus-sign in the columns for MTD% and YTD&? That minus sign does not mean "under-budget"; it means over-budget!

The specific entries will be discussed in a subsequent article.

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