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Treasurer reports $574,926 on hand after accounting system move; YTD revenue ahead of plan
Summary
Treasurer Paul Powell told the Hidden Springs Sewer & Septic Committee on May 27 that a systems transition and bank change are complete and the association now holds $574,926 (about 60% of annual expenses); year-to-date income and expenses are both better than budgeted.
Paul Powell, Hidden Springs treasurer, reported that the association completed a financial system transition from AMI to Keystone and changed banks effective May 1, 2025. Powell said the combined bank balance is $574,926, roughly 60% of annual expenses, and that some funds remain split between the old and new accounts pending the transition to new investment options.
Powell told the committee year-to-date income is about $367,000, roughly $27,000 above plan, while year-to-date expenses are about $232,000, approximately $86,000 below plan. He cautioned that expenses are expected to rise over the summer months but concluded the sewer company is "in good shape and on budget," noting staff will move cash to better investments as the transition completes.
