Date: 7/14/2022
Time:
Facilitator:
In Attendance
Meeting was cancelled because we did not have Quorum
Approval of Minutes
Minutes for June’s meeting was approval on 6/9.
Board Activity/Communication Prior to Meeting
N/A
Committee Seats
There will be a board election in October. The election will be conducted during Oak Fest which will feature Judge Andrea Beall as guest speaker.
Sandy, Dan, Hope and Polina’s seats are up for vote. Sandy, Dan, and Hope have expressed interest in running again. The board will recruit and encourage more residents to join the board. A notice will go out on social media and website to notify residents of the board opportunities.
Financials
Summary of the treasurer report for the month ending June 2022.
YTD vs. Budget
• Revenues unfavorable to budget by $4,134
o Homeowner dues unfavorable by $8,779
o Late fee income, Pavilion rental, Member and Non-Member Pool revenue are favorable by $4,650
• Expenses are favorable by $8,537
o Accounting Services, Landscaping and Security expenses are currently favorable by $7,722
o Pool chemicals are unfavorable by $875
• Total income is favorable by $4,402 to budget
June 2022 vs. Budget
• Revenues for the month were unfavorable to budget by $251
o Homeowner dues unfavorable by $667
o Pavilion rental and Member Pool revenue are favorable by $800
• Expenses were unfavorable for the month by $222
• Total income for the month was unfavorable by $60 to budget as we had projected a negative total income for the month
Profits and Losses
• YTD: $65,795 in Gross Revenue, $44,455 in Total Expenses, after deprecation COCC has YTD Net Income of $20,689
• June: $4,288 in Gross Revenue, $8,266 in Total Expenses, after depreciation COCC has a Monthly Net income of -$3,976
Accounts Receivable
• There are $9,480 in assessments and late fees due to COCC that are from 2021 and prior years from 12 residents. This is anyone that owes more than $385.
• There are $5,043 in 2022 assessments from 27 residents.
Pool Report
No updates due to cancelled July meeting
Landscaping
No updates due to cancelled July Meeting
Deed Restrictions
No updates due to cancelled July Meeting
Security
The board has been notified of a robbery of a toolbox that occurred Saturday July 9, 2022. The board is investigating the incident and status of Homeland Security at the time of the incident.
Acorn Newsletter
No updates due to cancelled July Meeting
Social
The board is discussing a possible social event for Labor Day. The Oakfest event will occur and further updates on the event will be discussed.
Follow Up from June
Nothing to report due to cancelled July meeting.
Next Meeting
August 11, 2022 / 7:30
Meeting ended N/A