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Treasurer reports $271,000 in association funds and proposes $100,000 road-repair fund
Summary
The treasurer reported roughly $271,000 in association funds, described recent operating expenses, and proposed setting aside $100,000 to a road-repair fund to be financed by monthly installments; letters of default and liens were also announced.
The treasurer reported the association has about $271,000 in the bank across checking and reserve accounts and proposed moving $100,000 into a dedicated road-repair fund to be financed with monthly installments once the budget is finalized. The treasurer outlined recent expenses — a UV system replacement and electrical contractor bills — and said staff changes and audit procurement are underway.
The treasurer also said transfer fees from 12 property sales totaled $2,400 and that letters of default will be mailed (with a June 15 timeline referenced) for lots delinquent more than $1,000, with liens to follow if owners do not respond within the prescribed time. Members asked for audited financial statements and for the association to proceed with the previously authorized audit work; the treasurer said the board is obtaining quotes for a three-year audit covering 2022–2025.
