Board Meeting 6/26/24

Saddlebrooke HOA Board of Directors · June 27, 2024

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Consolidated financial overview and audit highlights

Presentation

10:53 → 15:01(4m 8s)

A presenter reviewed consolidated 2023 financials: $41.7 million in assets, $10.6 million in liabilities, a reserve fund with $8 million (about $5.2 million in cash), consolidated net revenue/excess about $2 million for 2023 vs. a loss in 2022. Presenter said reserve fund long-term debt (~$4 million) tied to the Mountain View golf loan is expected to be eliminated by the third quarter. Attendees were directed to online draft financial statements.

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The Saddlebrooke HOA Board met in June to review consolidated financials and a completed audit, advance the budget process, approve facility and rules changes (including a 21-day member comment period), approve committee appointments, and unanimously repurpose a lightly used multi‑use court for a licensed cornhole facility.

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No transcript available.