Initial Capital fees from new construction closings continue to come in way above expectations - $23,643 YTD vs $5,000 budgeted for entire year.
The best we could get when renewing the reserves CD was at CIT 0.45% - $100,828.
The Board approved $2,500 legal retainer went out - COA Admin Contingency 8340 - to land use lawyer regarding issue of public pier reverting to private use.
Envirotech installation of gabian wall erosion control on either side of the pier should begin around Aug 9th. The balance due will be payable out of reserve funds.
GG HOA Board Treasurer
The Finance Committee is a standing committee of the Gibson’s Grant HOA established to support the Board of Directors in fulfilling its responsibility to oversee the HOA’s financial strategy & performance. Committee support to the Board of Directors will include but is not limited to; advising the Board on all financial matters, driving long-range planning and annual budgeting, and driving financial stewardship for all homeowners.
Tom Daly, Chair