By Mike Bossio, Treasurer
From the December 31 Balance Sheet, our end of the year 2022 Operating Fund was $143,877.60, which is $2,839.12 greater than the November 30 balance of $141,038.48. We did have Landscape expenditures for Tree maintenance and Landscape Replacement of $59,376.30 which exceeded our yearly budget of $43,000 by $16,376.30. Landscape Expenses Actual Total exceeded Landscape Expenses Budget by $10,138.60. Our Repair and Maintenance expenditures totaled $194,686.75 which exceeded our R and M budget of $182,586 by $12,100.75. Income Actual exceeded Income Budget by $5,916.38.
The December 31 Reserve Fund was $1,198,099.77, which was $18,499.36 greater than the November 30 balance of $1,179,600.41. We did deposit our planned amount of $17.046.16 and earned interest of $2,413.12.
ANTICIPATED YEAR END RESERVES DISCUSSION: Based on the Reserve Advisors 2018 Reserve Study, the estimated end-of-year 2022 Anticipated Reserve total was $1,357,451. Our actual end-of-year 2022 Reserve total was $1,198,099.77, a shortfall of $159,352. This yields an achievement rate of 88.3%, and compares to our HOA target achievement rate of 80.0%. Please note that the 2018 study did not anticipate and hence did not include an expenditure for the Irrigation Pond Project which totaled $176,700. This project was approved in 2020 (completed in 2022) to significantly reduce and/or eliminate the rust in our landscape water, and thereby significantly reduce and/or eliminate the appearance of rust on our buildings, sidewalks, walkways and driveways. Please note that the cost for the project was paid out of the Reserve Fund.
I am satisfied with our financial position overall and our 2023 CY starting position. I will continue to update you monthly.
News 
