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Chimney Hill board reviews finances, notes 97% of budgeted income collected
Summary
The ChHOA board heard a Nov. 15 financial update showing 97% of budgeted income collected to date, discussed delinquent assessments and liens, and approved the financial report. Bank balances and recent CD placements were reviewed.
The Chimney Hill Owners Association board on Nov. 16 received a financial briefing showing total income through Nov. 15 of $1,742,524 and collections of $1,694,809, or 97% of budget to date. Kate Trinklein presented the report and the board approved it on a motion by Kevin Comeau, seconded by Kristen Wenger.
Trinklein’s report listed an assessment total of $857,174 (collected $854,268), total accounts receivable of $114,037.88, and prior delinquent balances plus interest of $74,006.21. Board members discussed strategies to pursue delinquent assessments, including placing liens on properties, and considered options for investing reserves to seek higher returns. The Treasurer noted several Edward Jones certificates of deposit were recently purchased as part of reserve management.
