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Oak Hills posts strong FY performance; supporters' funds reviewed
Summary
Controller Mark reported June net operating income exceeded budget by about $290,000 and the park's cash balance is about $300,000 above budget; Jerry presented a snapshot of the Supporters group cash balances and revenue/expense figures.
Mark, the authority's treasurer/controller, told members June produced roughly $290,000 of net operating income above budget and that the park's cash balance is about $300,000 higher than planned for fiscal year 2025. He said the early payment of certain property-related obligations also landed in June, improving cash position ahead of auditors' work.
"June was another good month...for $290,000 in net operating income over budget...Our cash balance is nearly $300,000 above what we budgeted for fiscal year 25," Mark said.
Separately, Jerry presented the Supporters' fiscal snapshot and said the group's unrestricted cash balance was about $4,600, with restricted funds (dedicated to specified tennis items) totaling $15,004.66 and total cash of approximately $20,072. He reported tennis-related restricted revenue of roughly $44,008.77 and total revenue for the Supporters of about $45,135. Tennis expenses passed through the Supporters were just under $72,000 for the year; Jerry and staff explained timing differences caused by cash-basis accounting.
The authority did not take formal action on budget changes at the meeting; staff said year-end close was complete and auditors were scheduled to arrive next week.
Clarifying notes: Mark said the early payment for property taxes and some equipment expenses hit in June rather than the usual October timing, improving cash flows; Jerry and staff noted that timing differences in deposits and purchases make cash-basis accounting look uneven across fiscal years.
