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Chimney Hill board: assessments rise to 94%; reserves and cash positions detailed
Summary
At its Sept. 21 meeting the Chimney Hill Owners Association board approved the financial report showing assessment collections up to 94%, listed outstanding receivables, and reviewed operating and reserve balances as of Sept. 20, 2024.
The Chimney Hill Owners Association Board on Sept. 21 approved the financial report through Sept. 20, 2024, with Treasurer-level reporting by Kate Trinklein showing assessment collections at 94 percent (up from 89 percent) and a second assessment payment due Sept. 30. The minutes record total income of $1,525,534 and total accounts receivable of $163,658.16 as of Sept. 20, 2024.
Bank and reserve detail appended to the minutes show operating cash and short-term investments totaling $749,225.67 and reserves totaling $621,336.84 on the report date. Board members noted some maintenance and miscellaneous maintenance lines are over budget while winter rental revenue remained low because winter rental receipts had not yet been posted. The board approved the financial report (motion by Kristen Wenger; second by Steve Boyce).
