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2/11/2023 7:30:13 PM
 
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Section 5: OPA Board Subject: Too Much Money Msg# 1182195
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Amy,
Page 7 of the revised budget shows total reserves (less bulkhead), starting the budget year at $6.3 million and ending the budget year at $7.8 million. I'm curious what figure would represent a 35-40% mark? That aside, if the Board believes a larger reserve is needed for the coming year to meet some future level, then they should make that decision and dedicate some of the surplus to the reserve. Just be transparent about it. Otherwise, this surplus is solely a fund for unexpected expenses. I would encourage the Board to ask for a listing of significant unexpected expenses for each of the last five years. That way we have an idea if $1.6 million is reasonable figure. |
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For reference, the above message is a reply to a message where: Not political to listen to the GM & financial experts. Yes, the board did vote to lower assessments last year AND increase money for drainage and raise reserves. The B & F committee believes our reserves need to be raised even higher and I agree with that approach, especially when it comes to roads. The budget is optimistic in regards to weather. OPA lost over $60,000 with one storm at the yacht club the last weekend open....just imagine a washout July. When reserves are up to the 35-40% mark as recommended, there are no emergency repairs and the surplus is actually realized, reduce the assessment. |
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OPA Board Meeting - Golf Clubhouse
5/24/2025 - 9:00 A.M. |
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OPA Board Meeting - Golf Clubhpuse
6/28/2025 - 9:00 A.M. |
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OPA Board Meeting - Golf Clubhouse
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