Ventana Lakes
Property Owners' Association
Financial Report
Ventana Lakes Property Owners Association
Board of Directors Meeting
Wednesday, February 15, 2006
Yacht Club
1:30pm
| 1. Reports: VLPOA Balance Sheet as of January 31, 2006 | ||||||||
| A. Gardens Accounts | ||||||||
| Current Assets | Jan. 31, 2006 | Dec. 31, 2005 | Difference (+/-) | |||||
| Operating Funds | $ 42,833.09 | $ 23,763.66 | $ 19,069.43 | * | ||||
| Gardens Reserves | $ 52,706.47 | $ 47,675.66 | $ 5,030.81 | |||||
| Prior Gardens Optg Acct | $ - | $ 132.66 | $ (132.66) | ** | ||||
| Total Assets | $ 95,539.56 | $ 71,571.98 | $ 23,967.58 | * | ||||
| Current Liabilities | Jan. 31, 2006 | Dec. 31, 2005 | Difference (+/-) | |||||
| Total Liabilities | $ - | |||||||
| Equity | $ 95,539.56 | $ 71,571.98 | $ 23,967.58 | * | ||||
| Total Assets & Liabilities | $ 95,539.56 | $ 71,571.98 | $ 23,967.58 | * | ||||
| * Includes prepaid assessments & pool key refunds due (which are commingled in the Master | ||||||||
| prepaid assessments) | ||||||||
| ** An old account which has been transferred to the Master but still credited to the Gardens Account | ||||||||
| Expenditures | Year To Date | Budgeted | Variation (+/-) | |||||
| Total: | $ 8,794.57 | $ 12,612.00 | $ (3,817.43) | |||||
| B. Master Account | ||||||||
| Current Assets | Jan. 31, 2006 | Dec. 31, 2005 | Difference (+/-) | |||||
| Operating Funds | $ 323,309.27 | *** | $ 360,863.35 | $ (37,686.74) | ||||
| Other Assets | $ 25,349.85 | $ 10,475.17 | $ 14,874.68 | |||||
| Fixed Assets | $ 154,912.66 | $ 154,912.66 | $ - | |||||
| Reserves | $ 1,049,656.58 | $ 952,646.93 | $ 97,009.65 | |||||
| Master Assets: | $ 1,553,095.70 | *** | $ 1,478,898.11 | $ 74,197.59 | ||||
| Gardens Assets: | $ 95,539.56 | $ 71,571.98 | $ 24,100.24 | |||||
| Total Assets: | $ 1,648,767.92 | $ 1,550,470.09 | $ 98,430.49 | |||||
| Current Liabilities | ||||||||
| Total Liabilities | $ 51,789.29 | $ 210,431.43 | $ (158,642.14) | **** | ||||
| Equity | $ 1,501,439.07 | $ 1,268,466.68 | * | $ 232,972.39 | ||||
| Master Assets & Liabilities | $ 1,553,228.36 | $ 1,478,898.11 | $ 74,330.25 | |||||
| (With Gardens Assetts | ||||||||
| & Liabilities Included): | $ 95,539.56 | $ 71,571.98 | *** | $ 23,967.58 | *** | |||
| Combined Assets & Liabilities | $ 1,648,767.92 | $ 1,550,470.09 | *** | $ 982,907.83 | ||||
| *** Reflects the $132.66 from "Prior Gardens Optg Acct." | ||||||||
| **** Reflects Prepaid Assessments & Pool Key Refunds Due | ||||||||
| Expenditures | Year To Date | Budgeted | Variation | |||||
| Administration | $ 17,361.93 | $ 21,802.30 | $ (4,440.37) | |||||
| Utilities | $ 24,362.21 | $ 32,097.00 | $ (7,734.79) | |||||
| Maintenance | $ 28,196.14 | $ 38,210.00 | $ (10,013.36) | |||||
| Supplies | $ - | $ 100.00 | $ (100.00) | |||||
| Activities | $ 3,130.05 | $ - | $ 3,130.05 | |||||
| Reserve Allocations | ||||||||
| Revenues | Year To Date | Budgeted | Variation | |||||
| Reserve Allocation & Interest | $ 109,900.67 | $ 24,295.96 | $ 97,195.96 | |||||
| Future Action | ||||||||
| A. Treasurer will continue to work with the Finance Committee on long and short-range | ||||||||
| business plan. | ||||||||
| B. In response to general direction from the Board, the Treasurer has compiled a major, | ||||||||
| nationwide investment portfolio plan to include investments in Federal securities as well as in | ||||||||
| major financial institutions in states across the country. That portfolio plan will be presented to | ||||||||
| the Board for it's consideration as soon as it is completed. Completion is expected prior to the | ||||||||
| next Board Work Session. | ||||||||
| Respectfully submitted, | ||||||||
| Joeseph McCord, Treasurer | ||||||||