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CHOA reports first-quarter finances largely on track; 'other income' boosted by lot sales
Summary
The Chimney Hill Owners Association reported first-quarter collections near budget and elevated 'other income' driven by lot sales and fees; reserves were nearly fully allocated and the board approved the financial report.
The Chimney Hill Owners Association Board reviewed its financials through July 18, 2025, and approved the report. Vice President/Treasurer Kate Trinklein said the association was “looking good” for the first quarter, with assessments and services roughly 88–96% collected and allocation to reserves at about 96%.
Treasurer Kevin Comeau summarized the numbers: assessment total budgeted $920,107 with $828,757 collected (about 90%), total income recorded at $1,573,618 (86% of the $1,824,657 budget), and total expenses at $606,557 (33% of budget as of June 30). Executive Director James Walker noted a key driver: “other income is at 235%,” primarily due to lot sales and DRL fees. The board voted to approve the financial report (motion by Dennis Heberlein; second by Kevin Comeau).
