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Treasurer's Report - Karen Harris

posted Nov 12, 2016, 11:12 AM by Rod Harris   [ updated Nov 12, 2016, 11:57 AM ]

Hello all, again!  I find myself back in a familiar role on the DPHA Board.  It’s great to see familiar names of neighbors that still call Dunbarton Pines home since I was last in this position.

 

Invoices for 2016-17 have been mailed and payments have been received and deposited.  There are still approximately 40 homeowners who have not submitted payment.  The second mailing of invoices will be occurring in November.

 

Expenses for 2016 are in-line with the budgeted amounts.  Landscaping expense exceeded budgeted amounts due to dead ash tree removal requested by Novi and the additional work on the entrances (new sod, edging, soil, etc.)  Along with the new sod comes the additional watering requirements.  We have yet to receive final bills for water usage and common ground maintenance for the year.


Next year we propose to begin work rejuvenating the 11 cul-de-sacs.  We are budgeting significant funds to this project given our favorable reserve position.  We will be finalizing our 2017 budget at our next meeting.

Dunbarton Pines Homeowners' Association
Statement of Activities and Financial Position
As of November 2016
2016 2017
YTD Budget Over (Under) Budget Estimated
Revenue:      
Annual Dues  $          47,250  $          51,150  $        (3,900)  $         51,150
Other Income                       -                         -                            -  
     Total Revenue  $          47,250  $          51,150  $       (3,900)    $         51,150
       
Expense:        
Communications  $               654  $            2,000  $        (1,346)    $           2,000
Fees and Insurance                1,918                2,200               (282)                 2,200
Landscaping Maintenance              31,546              39,000            (7,454)               39,000
Landscaping Improvements                   48,000
Mailbox Program                   800                1,000               (200)                        -  
Electric                   913                1,900               (987)                 1,900
Water                2,142                1,400                 742                 2,200
      Total Expenses  $          37,973  $          47,500  $       (9,527)    $         95,300
Contribution to Reserves  $            9,277      $        (44,150)
   
Reserves - Beginning of Year              64,759             74,036
Reserves - End of Period  $          74,036  $         29,886
October 31, 2016 Bank Balance  $          82,141
Checks outstanding - August            (10,350)
Deposits outstanding                2,245
Reserves at End of Period  $          74,036
Outstanding Accounts Receivable  $        3,900
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