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Finance staff reviews reserves, collection rates and hazardous-tree spending after storm response
Summary
Finance staff presented February financial statements, highlighting a 2024 operating surplus that allowed the association to cover November storm cleanup costs, current reserve balances (SURF, Roads, UDR), and concerns that 2025 hazardous-tree spending could exhaust the annual hazardous-tree budget and require UDR funding.
Finance staff Joel reviewed the February 2025 consolidated financial statements and a capital-project report, flagging several items the committee discussed in detail.
Joel said the association closed 2024 with a $305,870 operating surplus, which made it feasible to cover emergency storm-response expenses incurred in November 2024; the committee later recommended reclassifying those storm costs from capital to operations. He reviewed collection-rate trends: dues collections were about 94.6% year-to-date…
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