To:  Villas of Wake Forest Unit Owners

From:  Dan Becker, Treasurer

Subject:  Treasurer Report for June 2025

 

Operating Account:  Expenses adjusted for timing are favorable, being $14,481 below budget through June.  This excludes an unpaid invoice of $7,225 for storm water fees for the common areas from the Town of Wake Forest.  This was unexpected and not budgeted.  It will be billed to the Villas every year. 

Reserve Account:  The reserve account balance is $320,657, down $28,799 from December 31, 2024 due primarily to the cost of re-roofing three buildings.

 

There will be an additional expenditure charged to the reserve of $6,000 to bring a level spreader up to code.

 

The financial reports can be found on the following site webpage (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.

-- 
Sincerely,

Dan Becker
(Board Treasurer)