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Lenox Park
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Budget Bits - April
Posted on Apr 11th, 2020

by Mike Bossio
 
The Budget continues to operate essentially as planned. The April 1 Operating Budget sits at $159,808.15 up from $152,023.56. With the March deposit of $14,226.17, the Reserve Fund now stands at $1,016,981.63, up from $1,000,006.91.
The Reserve Fund actual amount of $1,016,981.63 for March compares to the Reserve Advisors Anticipated March reserves of $903,640. 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. Therefore, 1016981 ÷ 903640 = 1.125, that is, we are exceeding the RA Anticipated Reserves by 12.5% YTD.
I will continue to keep you apprised of our performance on a monthly basis.