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Hidden Springs reports strong reserves but flags $83,500 in overdue assessments
Summary
The Hidden Springs Town Association reported $1.9 million in combined liquid and investment reserves but identified $83,500 in accounts receivable (including $38,700 more than 90 days past due); council will review the reserve study with North Star and address collection steps.
The Hidden Springs Town Association reported a stable financial position while flagging a substantial past‑due balance that the council said it will address.
According to the association update presented at the March 11 meeting, the checking account holds $464,000, the money‑market account $132,000 and investment reserves total about $1.3 million. The council said total net income for January was $249,000 but noted accounts receivable of $83,500, including $38,000 over 30 days, $1,500 over 60 days and $38,700 over 90 days.
The council instructed staff to review the reserve study with North Star to determine whether any adjustments are needed and agreed to pursue collection or remediation steps for long‑overdue accounts. No specific collection actions or timelines were announced during the meeting.
