Last Updated on 9 months by Website Administrator
Hello Members,
We are getting a lot done during the offseason, so our cash flow is tight. Thank you all for making your payments on time each month, it really makes our budgeting easier!
We of had 83 of the 88 units pay the month of July. Our 2023 Budget was estimated based on 86 of 88 units paying. We have one owner that is $1012.16 past due. Not cooperating with requests for payment, it has been turned over to the CPA for debt certification, which is the first step in legal collection.
We are watching spending very closely, no overtime for the grounds crew staff.
Our 2023 Annual budget that past at the AGM was the one that included the $20.00 increase which began March 1. Several emails and statements have been sent to these units that have not made the adjustment and are past due:
7005 $105.39
7017 $100.61
The past due list as of July 31:
7010 $250.00
7020 $1012.16
8035 $240.00
Total Short term past due $1708.16
I am happy to work with owners to make arrangements. Reminder again, you receive a monthly invoice from our accountant for the current month’s dues around the 1st of the month and Treasurer sends HOA Statements after the 15th. Dues are always due on the 1st and considered past due on the 15th.
7009 is still in negotiation process for a settlement after all these years. Our HOA attorney is working through the group that owns this one. There is a mortgage on this unit and the bank that holds that mortgage has gotten the legal process to the court and are awaiting a date for the auction to be scheduled.
8034 is an issue that we are proceeding with legal action. The outstanding balance outstanding is $2036.30 has been certified by Castro CPA, our auditor. Presented to the court for approval, continuing to wait for the response from the court to proceed with their part.
Fondos (Savings accounts).
Liquidation/Insurance Fondo – Opening balance:$4451.91, deposit $362.80, interest $11.76 withdraw $2141.57 ending balance $2684.89.
Muni Fondo – Opening balance:$71,984.09, interest $193.40, ending balance $72,177.49.
Reserve Fondo – Opening balance:$101,565.45 deposit $1,500.00, interest $276.65, ending balance $103,342.10.
AyA Fondo — Opening balance:$45,376.86, interest $121.92, ending balance $45,498.78.
There were one withdrawals from the Liquidation Fondo account this month. This was for one employee.
General checking account — Opening balance: $39,457.85, ending balance $37,134.98. Prepaid HOA dues: $25,947.86, not available until month dues are paid, leaving an available balance of $11,187.12. See the budget recap posted separately for the income and expense breakdowns.
Colonies checking account — Opening balance: 21,844.12 colones; ending balance 153,470.32. (Approximate value $281.62.) Unit 7007 is owned by the bank which is the only deposit into this account.
BNCR_2023-07 BNCR_2023-07c BAN REC JULY 2022
