Budget Bits - January
Posted on Jan 20th, 2021
by Mike Bossio, Treasurer
Our financials performed as planned. We ended the 2020 fiscal year with an Operating Fund siting at $171,605.18. This is an increase from the previous month’s balance of $164,249.43 and an increase of $42,517.92 over the beginning 2020 balance of $129,087.26. The 2020 Reserve Fund ended with a balance of $1,075,954.17. That compares to the previous month’s balance of $1,061,502.39 and to the year’s beginning balance of $971,176.60, an increase of $104,777.67
The 2020 Reserve Fund actual amount of $1,075,954.17 compares to the Reserve Advisors Anticipated 2020 Reserves of $1,049,952. As such, we exceeded the Reserve Advisors Anticipated amount by $26,002, or by 2.5%. In other words we achieved 102.5% of the RF Anticipated Reserves. As a reminder, a number of years ago the Board of Directors established an official target of 80% of the Reserve Advisors Anticipated Reserves.
So, Calendar/Fiscal year 2021 begins. I will, of course, continue to keep you apprised of our performance on a monthly basis and it is the Board’s sincerest hope that we exceed all financial goals and that 2021 is our finest year as a community.
