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3/19/2025 11:43:51 AM

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Section 5: OPA Board
Subject: Bulkhead Rates Msg# 1222424

From:

Joe Reynolds OceanPinesForum.com

Joined 8/1/1999

To:

Marty Clarke (Read) Past OPA Board Member

Joined 8/15/2004

AGAIN:

I obtained the following from OPA:
RETAINED EARNINGS ROLLFORWARD
FY18-19 THRU FY24-25 EST

(In 000's) Amount
Operating Fund Balance (Base Year), 5/1/18 (1,611)

Additions (Favorability):
FY18-19 626
FY19-20 824
FY20-21 1,356
FY21-22 1,913
FY22-23 1,113
FY23-24 1,194
FY24-25 EST 850
Total 7,876

Subtractions:

Transfers:
FY22-23 (1,635)
FY23-24 (880)
FY24-25 (913)
Total (3,428)

Operating Fund, Ending Balance, 4/30/25 2,837

FY22-23 Transfers:
Assessment Reduction 650
Replenish Roads Reserve 700
New Capital for T-Docks 60
Pickleball Court Renovations 75
New Capital Fund for Mailbox Pedestals 150
Total 1,635

FY23-24 Transfers:
Assessment Reduction 650
Additional Drainage Reserve 100
Police Plan Discretionary Funding 100
New Capital for Kayak Launch Addition 30
Total 880

FY24-25 Transfers:
Assessment Reduction 913

FY25-26 Budgeted Transfers:
Assessment Reduction 511

For reference, the above message is a reply to a message where:
Joe:

““too much” collections have been used extensively to reduce assessments“

Sorry but I don’t see that. We know approximately $370,391 was spent on the unbudgeted tiki bar addition and the Memorial Pavilion, but the 2026 budget worksheet doesn’t indicate any “actual“ surplus transfers which would have any effect on our assessments. Oh, in case you missed it, our assessment was increased in the 2025-2026 budget.

Joe, if showing a surplus of $826,552 after ten months isn’t enough to convince you our 2024-2025 assessment was to high then I give up.

Marty

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