Ventana Lakes
Property Owners' Association
Financial
Report
June 21, 2006
| Ventana Lakes Property Owners Association | |||
| BALANCE SHEET | |||
| As Of 4-30-2006 | |||
| CURRENT ASSETS | |||
| OPERATING CASH | |||
| 102 | FNBAZ Operating | $ 333,680.20 | |
| 103 | FNBAZ Activity CHkg | $ 17,566.68 | |
| 105 | Prior Bank Account | $ - | |
| 110 | Petty Cash | $ 500.00 | |
| 111 | Petty Cash - Activity | $ 210.00 | |
| 106 | Prior Gardens Oper Acct | $ - | |
| 116 | Due To/From Reserve | $ (770.00) | |
| TOTAL OPERATING CASH | $ 351,186.88 | ||
| OTHER ASSETS | |||
| 161 | Assessment Receivable | $ 21,326.68 | |
| 165 | Prepaid Income Tax | $ 1,002.00 | |
| TOTAL OTHER ASSETS | $ 22,328.68 | ||
| FIXED ASSETS | |||
| 150 | Building & Structures | $ 150,000.00 | |
| 151 | Vehicle Asset | $ 7,075.00 | |
| 152 | Office Furn & Computer Hwd | $ 29,376.66 | |
| 153 | Exercixe Equipment | $ 16,027.00 | |
| 159 | Accum Depreciation | $ (47,566.00) | |
| TOTAL FIXED ASSETS | $ 154,912.66 | ||
| RESERVE FUND | |||
| 120 | Money Market FNBAZ | $ 167,345.48 | |
| 121 | Amtrust CD 11-23-07 | $ 100,000.00 | |
| 122 | Bankone CD5681 M61815 5 | $ 112,308.88 | |
| 123 | Bankone 2Yr CD 4-5-06 4 | $ - | |
| 124 | WF Brokerage Mny Mkt | $ 151,683.50 | |
| 125 | USAA CD 3.54% 6-20-06 | $ 65,024.93 | |
| 126 | FNB CD 4.65% 1-30-08 | $ 75,827.21 | |
| 127 | FNB CD 4.65% 1-30-09 | $ 75,834.52 | |
| 128 | RSV FNBA CD 7-1-06 3.82 | $ 103,264.60 | |
| 129 | FND AZ CD 3.92% 7-27-06 | $ 100,926.52 | |
| 130 | Matrix 5YrCD 4928M10608 | $ 15,282.41 | |
| 132 | FNB CD 4.75% 1-30-10 | $ 75,843.66 | |
| 133 | WF Brokerage Invest | $ 58,000.00 | |
| 131 | Due To/From Operating | $ 770.00 | |
| TOTAL RESERVE FUND | $ 1,102,111.71 | ||
| GARDENS RESERVE | |||
| 171 | Gardens Reserve Mny Mkt | $ 37,205.17 | |
| 172 | World CD 2-13-07 | $ 20,623.03 | |
| TOTAL GARDENS RESERVE | $ 57,828.20 | ||
| TOTAL CURRENT ASSETS | $ 1,688,368.13 | ||
| LIABILITIES & FUND BALANCES | |||
| CURRENT LIABILITIES | |||
| 203 | Accrued P/R Taxes | $ 1,808.90 | |
| 205 | Prepaid Assessments | $ 12,188.51 | |
| 208 | Building Fund | $ 8,289.88 | |
| 210 | Refund Pool Keys | $ 28,635.00 | |
| TOTAL LIABILITIES | $ 50,922.29 | ||
| EQUITY | |||
| RETAINED EARNINGS | $ 315,952.41 | ||
| GARDEN RESERVES | $ 57,828.20 | ||
| RESERVE FUND | $ 1,102,111.71 | ||
| GARDENS OPERATING | $ 33,333.04 | ||
| CURRENT YEAR SURPLUS / DEFICIT | $ 128,220.48 | ||
| TOTAL FUND BALANCE | $ 1,637,445.84 | ||
| TOTAL LIABILITIES AND | |||
| FUND BALANCES | $ 1,688,368.13 | ||
| Ventana Lakes Property Owners Association | |||
| BALANCE SHEET | |||
| As Of 5-31-2006 | |||
| CURRENT ASSETS | |||
| OPERATING CASH | |||
| 102 | FNBAZ Operating | $ 270,951.70 | |
| 103 | FNBAZ Activity CHkg | $ 17,566.68 | |
| 110 | Petty Cash | $ 500.00 | |
| 111 | Petty Cash - Activity | $ 210.00 | |
| 116 | Due To/From Reserve | $ (3,970.00) | |
| TOTAL OPERATING CASH | $ 285,258.38 | ||
| OTHER ASSETS | |||
| 161 | Assessment Receivable | $ 11,378.23 | |
| 165 | Prepaid Income Tax | $ 1,002.00 | |
| TOTAL OTHER ASSETS | $ 12,380.23 | ||
| FIXED ASSETS | |||
| 150 | Building & Structures | $ 150,000.00 | |
| 151 | Vehicle Asset | $ 7,075.00 | |
| 152 | Office Furn & Computer Hwd | $ 29,376.66 | |
| 153 | Exercixe Equipment | $ 16,027.00 | |
| 159 | Accum Depreciation | $ (47,566.00) | |
| TOTAL FIXED ASSETS | $ 154,912.66 | ||
| RESERVE FUND | |||
| 120 | Money Market FNBAZ | $ 165,395.57 | |
| 121 | Amtrust CD 11-23-07 | $ 100,000.00 | |
| 122 | Bankone CD5681 M61815 5 | $ 112,308.88 | |
| 124 | WF Brokerage Mny Mkt | $ 2,070.53 | |
| 125 | USAA CD 3.54% 6-20-06 | $ 65,024.93 | |
| 126 | FNB CD 4.65% 1-30-08 | $ 75,827.21 | |
| 127 | FNB CD 4.65% 1-30-09 | $ 75,834.52 | |
| 128 | RSV FNBA CD 7-1-06 3.82 | $ 103,264.60 | |
| 129 | FND AZ CD 3.92% 7-27-06 | $ 100,926.52 | |
| 130 | Matrix 5YrCD 4928M10608 | $ 15,282.41 | |
| 132 | FNB CD 4.75% 1-30-10 | $ 75,843.66 | |
| 133 | WF Brokerage Invest | $ 208,000.00 | |
| 131 | Due To/From Operating | $ 3,970.00 | |
| TOTAL RESERVE FUND | $ 1,103,748.83 | ||
| GARDENS RESERVE | |||
| 171 | Gardens Reserve Mny Mkt | $ 37,263.04 | |
| 172 | World CD 2-13-07 | $ 20,623.03 | |
| TOTAL GARDENS RESERVE | $ 57,886.07 | ||
| TOTAL CURRENT ASSETS | $ 1,614,186.17 | ||
| LIABILITIES & FUND BALANCES | |||
| CURRENT LIABILITIES | |||
| 203 | Accrued P/R Taxes | $ 1,255.10 | |
| 205 | Prepaid Assessments | $ 14,590.77 | |
| 208 | Building Fund | $ 8,289.88 | |
| 210 | Refund Pool Keys | $ 29,305.00 | |
| 311 | Pool Const Deposite | $ 500.00 | |
| TOTAL LIABILITIES | $ 53,940.75 | ||
| EQUITY | |||
| RETAINED EARNINGS | $ 315,952.41 | ||
| GARDEN RESERVES | $ 57,886.07 | ||
| RESERVE FUND | $ 1,103,748.83 | ||
| GARDENS OPERATING | $ 29,976.23 | ||
| CURRENT YEAR SURPLUS / DEFICIT | $ 52,681.88 | ||
| TOTAL FUND BALANCE | $ 1,560,245.42 | ||
| TOTAL LIABILITIES AND | |||
| FUND BALANCES | $ 1,614,186.17 | ||
Treasurer's Report
Attached and Included As Part Of This Report
The first 2 pages of Colby Management’s Balance Sheet for the five months ending May 31, 2006.
Comments
Since the only financial information readily available for my report comes from Colby Management I have decided to use the first 2 pages of Colby Management’s Balance Sheet as part of my official Treasurers Report. I will use this comment section to inform the Board and the Association of any questions and/or concerns since my last report and the outcomes, if any, of such questions and/or concerns.
Line Items 105 and 106 have been removed as requested.
Line Item 124 - Wells Fargo Brokerage Account: This line item holds VLPOA money market account. The total of all purchased CD’s held by Wells Fargo now show in Line Item 133.
Line Item 133 – Wells Fargo Brokerage Investments:
1) $50,000 Citizen’s State Bank yield 4.95% Matures Nov. 24, 2006 interest at maturity
2) $58,000 First Bank of Puerto Rico yield 5.05% Matures April 20, 2007 interest at maturity
3) $50,000 Sky Bank yield 5.25% Matures May 27, 2008 interest semi-annual
4) $50,000 GMAC Bank yield 5.30% Matures May 19, 2009 interest semi-annual
Line Item 682 has been created to show the transfer of $15,000 from the Activities Account surplus balance ending December 31,2005 to the Reserve account.
Items to Note
Line Item 125 – USAA CD maturing June 20, 2006 will be used to purchase a CD that fits the CD ladder previously agreed to by the Board.
Line Item 128 – FNBA CD maturing July 1, 2006 will be used to purchase a CD that fits the CD ladder previously agreed to by the Board.
Submitted and signed by Bob DellaPia this 14th day of June, 2006.