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Hidden Springs reports healthy reserves, recommends investing excess cash
Summary
The HSTA treasurer reported a checking balance of $563,430 and retained earnings of about $764,000; income was $24,000 above plan for the quarter and operating expenses were under budget by $31,500.
The Hidden Springs Town Association reported a strong quarterly financial position at the April 22 meeting. The treasurer said the checking account balance is $563,430 and retained earnings total about $764,000; quarterly income of $366,578 was roughly $24,000 above plan, driven by higher-than-expected transfer fees.
Council members said they will work with Dan McQuesten to shift a portion of cash into investments. Paul Powell noted operating expenses for the quarter totaled $286,134, approximately $31,500 below plan due largely to seasonality (for example, pool maintenance had not yet occurred). The council said reserves are sufficient to cover planned liabilities and capital needs.
