Report 2016


PO Box 915501
Longwood, Florida  32791-5501

January 24, 2017

Treasurer’s Report for Calendar Year 2016

With no increase in the 2016 Annual Assessment, the Board limited operating costs by approving only necessary repairs.  Due to personal circumstances, the picnic area capital improvement has been postponed until 2017.  The Board continued to focus on the goal of saving money and maintaining the value and safety of our pool and common area.

In 2016 the Association did not incurred any legal fees or costs.

The Association made the third and final payment of $803.00 for the D & O insurance policy (a three-year insurance policy from 2014 through 2016) in November 2015, therefore, no payment was due for this policy during 2016.

On July 26, 2016, the Association renewed its CD for one year.  The next interest payment is due on January 26, 2017.

The Association had no non-payments or homes in foreclosure at the end of 2016.  Although collection of dues from owners was generally good, from time to time the Association is dealing with past due accounts.  The Association will 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.

The Association had a net gain in 2016 as a result of no new projects.  These funds will be applied towards 2017 budget items.  The 2016 Financial Statement will be prepared by the Association’s accountant and will be available upon request.  Attached is the 2016 operating statement, which is summarized below:

Income:  $21,321
Expenses:  $14,664
Net Gain/Loss:  $6,657
Cash and Reserves as of 12/31/2016:  $44,667.99

Prepared by Patrice Burke, WGVHA Treasurer, January 18, 2017

Attachment to Treasurer’s Report:
2016 operating statement