Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
HAPOC treasurer reports $43,173 balance, board keeps funds reserved for dune repairs
Summary
Treasurer Jeff Jacobs told the HAPOC Board of Governors the group held $43,173 as of May 24, 2025, noting $31,292.86 was board‑restricted for dune fence replacement and grass restoration; the board flagged upcoming costs including $14,100 for new fencing.
Chair Paddy Richards convened the HAPOC Board of Governors May 24, 2025, where Treasurer Jeff Jacobs presented the financial update and a cash roll‑forward for Sept. 1, 2023, through Aug. 31, 2024.
Treasurer Jeff Jacobs reported the roll‑forward showed an ending balance of $31,292.86 as of Aug. 31, 2024, which the board holds as restricted cash for dune fence replacement and grass restoration in the event of a catastrophic storm. Jacobs said the current cash balance as of May 24, 2025, was $43,173, which he described as a “high water mark” ahead of planned expenditures including new fencing, insurance bills and Beach Ambassador costs.
Board members noted an upcoming planned fencing expense estimated at $14,100 and discussed other near‑term obligations tied to beach operations and insurance. No formal motions or votes on transfers or new appropriations were recorded at the meeting.
The reported restricted fund is earmarked specifically for dune‑protection work; the board reaffirmed that the balance would be used for fence replacement and grass restoration if needed. Members said they will continue to monitor cash flow as summer expenditures come due.
