Almost every time that I am showing Ocean Hills homes, someone ask me the financial condition of the Ocean Hills Homeowners Association. This is an excellent question since the Ocean Hills homes financial condition directly influences the HOA fees. Although I do not get a copy of the Ocean Hills Homeowners Association financial statements, I can share with you updates that are published in the Ocean Hills Country Club “Newsletter.” More info under photo.
Great Landscaping Along Liesure Village
At the start of August 2012, Ocean Hills reserves were $3,225,653. This reflects an operating surplus of $146,567. Landscaping maintenance and water are the two items most difficult to control in the budget. Other areas of Ocean Hills run at under budget: Recreation department payroll is $24,712 under budget and Water is $127,538 under budget. Ocean Hills had total assets of $4,362,409. Any excess funds are invested in insured Certificates of Deposit. At the end of July 201 there were $3,333,934 CD’s.
The Ocean Hills Country Club board of directiors are constantly monitoring cost and trying to improve the financial condition in Ocean Hills. HOA fess showed little increase from 2011 to 2012.
For more information about the Ocean Hills Homes financial condition, Contact Gary Harmon today.
All original content by Gary Harmon.
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