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Ochos Park Authority reports preliminary $705,000 surplus before capital expenses
Summary
At the July meeting the Ochos Park Authority reviewed preliminary May–June financials showing $2,716,000 in revenue, roughly $2,000,000 in expenses and an estimated $705,000 surplus; officials said the figures are preliminary and will be finalized next month.
At its July meeting, the Ochos Park Authority reviewed preliminary May–June financials that showed revenue of $2,716,000, expenses around $2,000,000 and an estimated surplus of $705,000 before capital and other major bills are paid.
The authority described the numbers as preliminary and not final. Ochos Park Authority staff member Mark Gartner said he had circulated the preliminary financial reports to board members and told the board the figures are not finalized. Board members said they will review final numbers when staff delivers an updated report next month.
The presiding member said the authority had experienced "a pretty spectacular year" based on the current draft numbers, but emphasized the need to finalize the accounts before any capital or other commitments are made. The board did not take any financial actions at the meeting; members received the report as an informational update.
Separately, the presiding member said they had attended a First Tee luncheon at Odene's and mentioned it during the reports segment.
