From: Dan Becker, Treasurer
Subject: Treasurer Report for February 2025
Please see attached select the link below to view the “Financial Highlight Report” for explanations for changes from December 2024 to February 2025.
Operating Account: The operating cash account is $131,841, up $12,080 from the end of the year. This is due to net operating income of $39,400 through February, partially offset by a $27,320 transfer of the 2024 surplus to the reserve as required by the Villas governing documents. There are no notable below or under expense variances to comment on to date.
Reserve Account: The reserve account balance is $357,634, up $8,160 from December 31, 2024 due to interest earned, the budgeted transfer of a portion of the dues to the reserve each month and the transfer of the 2024 surplus to the reserve. These increases were partially offset by a couple expense items, most notably the payment of $47,377 for the first of three buildings budgeted to be re-roofed in 2025.
Please see the attached select the link below to view “Financial Highlight Reports” for more detail.
The financial reports can be found on the following site:
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
