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Chimney Hill reports $221,000 surplus and moves funds to reserves
Summary
Executive Director James Walker told the board the 2024–2025 fiscal year ended with a $221,000 surplus and proposed transferring most of it to capital reserves; the board approved the transfer plan.
Executive Director James Walker told the board the Chimney Hill Owners Association closed the 2024–2025 financial year with a $221,000 surplus and proposed moving that surplus, minus a $21,000 starting balance, to capital reserves. "We closed out the 2024/2025 financial year with a $221,000 surplus," Walker said; the board approved the proposal.
Walker also said that by the following week the association expected approximately $400,000 in operating funds placed in certificates of deposit. Members asked for clerical corrections to specific budget lines in the financial report and directed staff to follow up with the accountant about the rental budget line. The board approved the financial report presented by Kate Trinklein.
