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High Point board accepts February and March financial reports; association shows positive operating balance
Summary
President Greg Myers read February and March financial statements showing positive net income and more than $1.4 million in cash and savings; the board approved the reports and noted ongoing operating and capital account balances.
The High Point Community Property Owners Board approved the February and March financial reports during its April 29 meeting.
Greg Myers read the treasurer's report to the board, summarizing year-to-date operating income, expense categories and cash balances. The February report showed operating income of $265,451.81 and total income of $266,820.74 with expenses of $126,244.02 and net income of $140,576.72. The March reporting period recorded operating income of $278,063.40, total income of $279,501.78, total expenses of $158,150.15 and net income of $121,351.63.
The board also reviewed cash and savings balances and investment accounts. Reported cash and savings totals across accounts were $1,411,044.34 (February snapshot) and $1,440,818.84 (March snapshot). Fixed assets were listed separately in the reports. A motion to approve the financial reports was moved by Jean Albano, seconded by Steve Heffron and recorded as passed.
Board members did not propose adjustments or additional line-item changes during the meeting. The treasurer's reports will remain part of the association record and the board will revisit budget items at the scheduled budget committee meeting.
