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5/29/2025 7:31:09 PM
 
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Section 5: OPA Board Subject: Another $1 Million Profit Msg# 1226015
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Joe:
Yes I do believe it because it did. You might want to use the correct numbers if you want to make a creditable argument. The initial contributions started in 1969 and continued until the new building was built. That is over 45 years accumulated compound interest with in rates over 7% for at least 15 of those years and a high of 11%. Marty |
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For reference, the above message is a reply to a message where: I haven’t the time to research the actual schedule but as I remember it the initial reserve contribution total was $340,000 +/- accumulated over the first 20 years. After compound interest was added the total dollars available from reserves for the new Community Center was more than the $1.7 Million cost of construction. And you actually believe the depreciation of $340,000 accumulated in a lock box collecting interest for 20 years or more, and continued compounding in that lockbox then for another 20 or more years?
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