Wekiva Golf Villas Homeowners Association, Inc.
PO Box 915501, Longwood, FL 32791-5501
January 21, 2015
Treasurer’s Report for Calendar Year 2014
With no increase in the 2014 Annual Assessment, the Board completed several projects focused on the goal of saving money and maintaining the value and safety of our pool and common area. Some of the more notable projects include replacement of a failing pump, valve and fittings; repair and painting of the gate; installation of a new lock with new keys purchased and distributed; installation of energy-efficient LED floodlights; and the replacement of the wooden perimeter fence.
We have one home in foreclosure at the end of 2014. Their last three quarterly invoices were not paid resulting in a $330.00 loss to the association. The Board will move forward with a lien on behalf of WGVHA. We also had an additional $803.00 D & O insurance payment to make this year. The three-year insurance policy has split payments that resulted in two payments due within the 2014 calendar year (1/30/2014 and 11/24/2014…this 2nd payment was not included in the budget). The third payment is due 12/12/2015 and is listed in the 2015 budget. We continue to follow the late payment collection policy from past years, as authorized in the Association Articles of Incorporation; Declaration of Covenants, Conditions and Restrictions; and Bylaws. The Board shall refer all debt collection for payments 30 days past the due date to the Association’s attorney, with all applicable legal fees and expenses billed to the homeowner.
A lot of long-overdue projects were crossed off our list in 2014 which resulted in a net loss of -$1,529, however the 2015 budget will provide a $3,980 surplus without raising quarterly assessments. The 2014 Financial Statement will be prepared by our accountant and will be available upon request. Attached is the 2014 operating statement, which is summarized below:
Net loss: -$1,529
Cash and Reserves as of 12/31/2014: $31,041
Prepared by Elaine Curran WGVHA Treasurer January 14, 2015
Attachment to Treasurer’s Report: