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Chimney Hill board approves financial report, notes roughly $170,000 surplus and directs funds toward water project
Summary
The Chimney Hill Owners Association board approved the March 14, 2025 financial report showing a $39,963 increase in income and discussed directing about $170,000 in surplus toward water-system needs; the report was approved unanimously.
The Chimney Hill Owners Association Board approved the financial report as of March 14, 2025, after Vice President Kate Trinklein summarized revenue increases of $39,963 driven by assessments, interest, DRLs, lot sales, fees and maintenance services. Treasurer Kevin Comeau told the board that, with two weeks left in the fiscal year, the association is tracking about $170,000 more than projected and recommended the board consider options for the surplus.
The board voted to accept the financial report (motion by Kevin Comeau, seconded by Laura Powers). Members discussed the capital reserve plan prepared by Executive Director James Walker and agreed any additional funds remaining at year-end would be allocated to the water project. The minutes record the financial figures and bank/reserve schedules in detail.
