Report 2009


PO Box 915501, Longwood, FL 32791-5501

January 27, 2010

Treasurer’s Report for Calendar Year 2009

With a 5% increase in 2009 dues, careful control of operating costs, minimal repairs and no capital expenditures, income exceeded expenses by $260.

A decision to replace or repair deteriorating perimeter fence and pool decking has again been deferred in light of current economic times. Such expenditures have not been budgeted for 2010, the impact of which requires serious reconsideration by the Board if we are to retain the value of our community pool.  Removal of the dead tree overhanging the wall and sidewalk has been given highest priority as it poses a serious liability risk to the Association. The tree removal is included in the 2010 budget. After careful evaluation, the Board determined that with limited expenditures a raise in dues would not be necessary for 2010.

One home remains in foreclosure resulting in zero payments in 2009, representing a $440 shortfall. Efforts continue to collect these outstanding monies pending resolution of foreclosure proceedings.

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.

The 2009 Financial Statement will be prepared by our accountant and will be made available upon request. Attached is the 2009 operating statement, which is summarized below:

Income $19,475
Expenses $19,215
Net gain/loss $260
Cash and Reserves as of 12/31/2009 $27,832

Prepared by Elaine Curran
WGVHA treasurer