I would like to begin by introducing myself. In February, I was appointed to the Sunrise Mountain View Estates Homeowner’s Association (SMVE HOA) and elected by the board to serve as treasurer. My name is Tammy Eversole. My husband and I made Tucson our winter home in 2015. We spend our summers in northern Colorado. I am a retired CPA, with a degree in accounting and a degree in sport management. While I was a full-time resident of Colorado, I served for four years as the treasurer of a local non-profit organization. My time spent serving on the non-profit organization’s board was both rewarding and educational. I look forward to serving my community here and anticipate that this experience will be as rewarding. Thank you for this opportunity and feel free to contact me with any questions or concerns regarding the SMVE HOA’s finances at email@example.com.
As Larry Spencer reported at the annual homeowner’s meeting, 2016 operating expenses were below budget by $36,059 or 13.1%. Capital expenditures were also under budget by $48,362 due to the deferral of some 2016 budgeted capital items, such as the north tennis court resurfacing and road repairs. The capital reserve fund grew from $214,000 at the end of 2015 to $452,000 at the end of 2016. The capital reserve fund is still below the recommended amount per the reserve study, but significant progress was made in 2016 toward our goal.
The first quarter financial results of 2017 shows SMVE HOA total operating expenses running slightly over budget by $884. We usually see the first quarter as being either under or over budget. This happens because of the nature of the budgeting process, which takes the yearly budget and apportions it evenly over twelve monthes. However, the timing of many actual expenses is not even. Over the course of the year, the actual expenses should even out and be within the budgeted amount. You can see detailed monthly financial statements on the Finance page of the SMVE HOA website.
Finally, a reminder that invoices for homeowner dues for the second half of 2017 will be arriving in your mailboxes in early June. Have a great summer.