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Chimney Hill reports collections above budget through Jan. 17; operating and reserve balances detailed
Summary
Treasury review showed assessments and several income lines exceeding budget through Jan. 17, 2025; operating balances and reserve CDs were presented to the board as part of the budget review. Accounts receivable and prior delinquent balances were also reported.
At the Jan. 18 meeting Kate Trinklein presented the financial report dated Jan. 17, 2025, telling the board that the report “looks good as assessments came in.” The report records assessments at 101% of budget, renter guest totals at 103%, maintenance services at 104% of budgeted amounts, and other income substantially higher than expected due largely to lot sales and miscellaneous receipts.
The financial tables show total income of $1,829,143 against a budget of $1,742,524 (105% of budget) and total expenses recorded through Dec. 31, 2024 at $1,314,280 (75% of budgeted full-year expenses). Operating account and reserve balances were presented line-by-line, including multiple Edward Jones CD holdings and bank money-market balances. The board approved the financial report on a motion by Kevin Comeau and second by Laura Powers.
