The purpose of this message is to inform the residents of the current financial condition of Villas.  The Board reviews the finances monthly and does its best to ensure adherence to the budget.

The Villas of Wake Forest finances are healthy.

 

Cash and Liquidity:  The operating cash account balance as of 6/30/26 is $xxxx.

The balance in the North State bank reserve account is $xxx.

 

The balance of the Fidelity investment account is $xxxx and other than the CD shown below it is invested at money market rates earning 3.25%.

A CD for $xxxx earning 3.40% will mature on 10/1/2026.

Income Statement:  Expenses are favorable to the budget by $xxxx but expenses for roofing repairs and building maintenance costs will catch back up in the months ahead.

 
COA Financial Statements can be found at the following link:

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