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Ocean Pines posts audit and reports $46,000 favorable month; $6M reserves in line with DMA study
Summary
Management reported the audit was posted online, monthly results were $46,000 favorable driven by higher revenues and lower expenses, and reserves are projected at about $6,000,000 consistent with the DMA study.
The association posted its audit report online and management reviewed monthly financials, reporting $46,000 favorable results for the month (approximately $28,000 above budget in revenue and $18,000 under budget in expenses). The board discussed reserve projections and year-to-date numbers and confirmed that the association’s reserve forecast (about $6,000,000) aligns with the DMA study projection as of 06/30/26.
"This is for the month... favorable to budget for 46,000 for the month," the general manager said, noting that weather affected May results but revenue is returning. Treasurer Monica Rakowski provided a cash snapshot: roughly $17.9 million in cash as of June 30, with $11.6 million invested in CEDARS and additional funds in insured sweep accounts and money markets. The board encouraged members with questions to request electronic or hard copies of the audit.
