Lenox Park
 
Login | Register
 
Welcome
Home
Our Community
Services & Amenities
Maps
Nearby Resources
FAQ
Contact Us
 
Members
Important Contacts
Member Directory
Clubs & Groups
Modifications
Maintenance Duties
Photo Gallery
For New Members
Government
Board of Directors
By-laws & Policies
Meeting Minutes
Financial Matters
Committees
Other
Contractors & Vendors
Classifieds
Association Payment
 

 

Lenox Park
News
 
 

Budget Bits - November
Posted on Nov 13th, 2020

by Mike Bossio
 
Our financials continue to perform as planned. The November 1 Operating Fund sits at $154,554.87, a decrease from the previous month’s balance ($175,760.60). The November 1 Reserve Fund now stands at $1,062,032.54, an increase from the previous month’s balance ($1,058,116.99). We deposited our budgeted amount of $14,226.17 into the RF.
The Reserve Fund actual amount of $1,062,032.54 compares to the Reserve Advisors Anticipated November 1 Reserves of $1,017,438 (calculated). This calculated amount is based on linear extrapolation of the elements that make up the Anticipated Reserves, namely, Recommended Contribution, Earned Interest, and Anticipated Expenditures. We are exceeding the RA Anticipated Reserves by about 4.4% YTD.
I will, of course, continue to keep you apprised of our performance on a monthly basis.