News & Announcements
Treasurer Report for February 2024
Posted on Mar 27th, 2024

by Dan Becker, Board Treasurer
Attached  Select one of the two links below to view the webpage containing the Financial Highlight Report for February 2024.  The purpose of this report is to provide the Board with key high level performance indicators to assess the financial condition of Villas and to take corrective action if necessary.  The Board is committed to a monthly review of the financial results and to do its best to ensure adherence to the budget.
Cash and Liquidity:  The operating cash account is well in excess of the minimum required to comply with the documents on working capital.  The balance in the reserve account increased by $31,182 since the end of December to $469,847 due primarily to the budgeted reserve transfer of $28,666 to the reserve from the operating account.  There are $186,612 in liquid reserve funds (funds not tied up in CD’s) to fund anticipated expenditures for re-roofing and painting.  
Income Statement:  Expenses are unfavorable to budget due primarily to higher roof repairs.  A project is being considered whether it might be cost-justified to examine all roof vents and re-seal needed ones to prevent the cost of future leak repairs. 
For more detail, please see the highlight report on the webpage.  The financial reports can be found on the following site:
(NOTE: the financial reports can also be located on the Villas community website Resident login is required for both websites - Bob Turnage)
Please let me know if you have any comments or questions.  The Board will respond and include any such comments/questions in its normal update to the Community.
Cc :  Villas of Wake Forest Board