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CFO: Reston Association revenue slightly below plan; expenses running under budget through June
Summary
CFO Ed Vroom reported that year-to-date revenue through June is about $89,000 below budget and the association forecasts ending the year $42,000 under budget for revenue; expenses are below budget year-to-date and are forecast to end the year about $30,000 under budget after adding condition-assessment costs.
Reston Association Chief Financial Officer Ed Vroom delivered the quarterly financial update July 24, reporting midyear variances and a conservative year-end forecast. Through June, year-to-date revenue was approximately $89,000 below budget, driven mainly by lower camp revenues and some reduced tennis and boat-rental income; interest income and other offsets narrowed the variance. Vroom said the association forecasts ending the year about $42,000…
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