Report 2017


PO Box 915501
Longwood, Florida  32791-5501

January 23, 2018

Treasurer’s Report for Calendar Year 2017

With 4.54545454545455% increase (from $110 to $115 per quarter) in the 2017 Annual Assessment, the Board completed the picnic area capital improvement and other repairs.  The Board continued to focus on the goal of control of operating costs and maintaining the value and safety of our pool and common area.

The Capital Improvements were $851 below budget.  However, maintenance (repair lock, replace broken water fountain, electrical repairs) and other repairs (including pressure cleaning, painting, wood trim repair, patio furniture re-strapping, hurricane cleanup/repairs) were over budget, totaling $6,530.

In 2017 the Association did not incurred any legal fees or costs.

The Association made the first payment of $803.00 for the D & O insurance policy (a three-year insurance policy from January 6, 2017 through January 6, 2020).

On July 26, 2017, the Association renewed its CD for one year.  The next interest payment is due on January 26, 2018.

The Association had no non-payments or homes in foreclosure at the end of 2017.  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.

With the Capital Improvements, maintenance and other repairs, the Association had a net loss in 2017.  The 2017 Financial Statement will be prepared by the Association’s accountant and will be available upon request.  Attached is the 2017 operating statement, which is summarized below:

Income:  $22,613.00
Expenses:  $26,922.00
Net Gain/Loss:  ($4,309.00)
Cash and Reserves Adjusted as of 12/31/2017:  $37,221.78

Prepared by Patrice Burke, WGVHA Treasurer, January 7, 2017

Attachment to Treasurer’s Report:
2017 operating statement