Fellow Coral Trace home owners,
This past month the board continued to operate well below budget leaving us with a $10,647.37 surplus for the year to date and $6046.20 for the month of March alone. This is in addition to the $4,795.05 which goes into our reserve accounts each month. So as you can see, we are focused on fiscal responsibility.
With that said, the news is not all good. One of the major areas of concern has been and continues to be the irrigation system in Coral Trace. Each month we budget $479.00 for irrigation repairs and maintenance. So far in 2011we've had a total cost of $2,230 in irrigation repairs meaning in this area we are currently over budget by $793.26. This has not been a problem thus far due to other items on the balance sheet coming in well under budget, however it is an area of concern. The good news regarding this situation is that it continues to improve with each problem that occurs. Each time something breaks, it is repaired and redone correctly (as Tiffany Homes should have done many years ago).
Bottom line: Coral Trace is doing very well financially, especially given the current economic times and your board is committed 100% to being fiscally responsible.
Thank you,
Jon Reed - Treasurer
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