To:  Villas of Wake Forest Unit Owners

From:  Dan Becker, Treasurer

Subject:  Treasurer Report for March 2025

 

Please see attached Select this link for “Financial Highlight Report” (resident signin required) for explanations for changes from December 2024 to March 2025.  

 

Operating Account:  The total operating fund balance (checking and CD’s) is $127,812, up $8,051 from the end of the year.  This is due to net operating income of $35,371 through March, partially offset by a $27,320 transfer of the 2024 surplus from the operating fund 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 $321,395, down $28,079 from December 31, 2024 due primarily to the payment of $99,694 for two of the three buildings budgeted to be re-roofed in 2025.  This was offset in part by the budgeted transfer of a portion of the dues to the operating fund and the transfer of the 2024 surplus to the reserve.  

 

ALL financial reports can be found on the following site (resident signin required): 

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

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Sincerely,

Dan Becker, Treasurer