by Mike Bossio, Treasurer
From the December 31 Balance Sheet, our end-of-year 2021 Operating Fund is sitting at $130,712.73, which is $32,381.74 less than the November 30 balance of $163,094.47 . The significant contributor to this difference is the transfer of $25,000 from the Operating Fund to the Reserve Fund. We made this transfer because we were entering 2022 with the Operating Fund in excellent shape. Recall that we allocated $150,000 in the Reserve Fund for the Pond Irrigation Project. The actual Project cost will come in at $175,600. We paid the contractor $165,600 in 2021 from the Reserve Fund, withholding $10,000 pending satisfactory project completion in 2022
The end-of-year Reserve Fund is $1,090,211.57, which is $37,109.77 more than the November 30 statement of $1,053,101.80. This compares to the Reserve Advisors (RA) Anticipated Reserves at the end of 2021 of $1,140,685. The $1,090,211.57 is 95.6% of the RA’s anticipated amount. Recall that our community’s official target is 80%, although we have been achieving more than that for a number of years now. I am comfortable with our RF status and, together with the rest of the Board of Directors and our Property Manager, will work toward pushing the RF amount toward 100% achievement.
I believe we are entering 2022 is excellent financial shape. I will continue to update you monthly.
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