Hi All,
Attached are the December 2020 financials.
I am recommending that we move $65,000.00 from the BMO (Operating account) to
Consumers Credit Union (Reserve Fund account). We are earning 1.85% interest
from Consumers Credit Union. The 12/31/2020 balance in the Reserve Fund account
is $479,390.92. According to the 2016 Reserve Study, the amount recommended to
be in the Reserve Study as of 12/31/2020 is $411,058.00. We are building the
Reserve in order to cover roof replacement which we feel is underestimated in
the 2016 Reserve Study. The balance in the operating fund as of 12/31/2020 was
$99,299.57. Transferring $65,000.00 to the reserve fund will leave $34,299.57
in the operating fund.
Take care,Donna
Attachment:
FPTA_11_2020_BigPicture.pdf
Description: Adobe PDF document
Attachment:
FPTA_12_2020_Financials.pdf
Description: Adobe PDF document
