Through April 30, 2026 · Month 5 of 12
Cash crossed $5M this period. Reserves grew again. Insurance and investment income are both ahead of budget, and the year that was supposed to break even now looks set to land in the black.
We're above $5M in cash for the first time, with reserves at $4.2M and growing every month. New insurance saves us about $53K a year and our bond portfolio is paying roughly 48% more interest than the budget assumed. The year that was budgeted to break even should finish around $120K in the black.
One item needs the Board tonight: three units now owe $120,136 combined, growing $6K a month. Legal escalation is overdue.
Budget called for breakeven. We're tracking about $120K over that, mostly from insurance savings and investment income. Trash and gas are running a little hot but the rest of the year absorbs them.
Property policy renewed April 30 at $264K/year ($23,888/mo). Liability package — covering General Liability, Garage, Umbrella, Equipment Breakdown, and Management Liability — runs Dec–Dec at $183K/year ($15,274/mo). Combined full year cost is $622,003 vs $675,000 budgeted.
$3.19M in investment-grade corporate bonds, throwing off about $133,849 a year vs the $90,000 we budgeted. Now recorded correctly every month going forward.
The VFD (Variable Frequency Drive) units we put on the AC equipment and the domestic water pumps are doing the work. Spend is $43,925 below the $137,500 YTD budget through April. Management is working with the Maintenance Supervisor on the next round — garage lighting is up next.
First time we've crossed $5M in total cash. Reserves are at $4.2M and have gone up every single month this fiscal year.
888 Coin LLC (2305N), RKMO LLC (1101S), Hilda Hall (0801N). The 90+ day portion is $102,832. We need the Board's authorization tonight to escalate to counsel.
City rates went up more than we budgeted for. Management confirmed it. We'll correct it in next year's budget.
The city's 3x overcharge credit posted in April. What's left is real usage from the cold winter. Pool temp and water-heater settings were turned down to keep summer use lower.
| Line | YTD Actual | YTD Budget | Status |
|---|---|---|---|
| Pooled Reserve Transfer | $400,000 | $400,000 | On budget |
| SIRS Reserve Transfer | $254,166 | $254,165 | On budget |
| Reserve Interest IncomeBooks show $40,650 received. About $32,500 more is accrued in Truist but not yet paid out. Bonds pay semi-annually, so income arrives in lumps, not monthly. Full-year projection: $133,849 vs $90,000 budget. | $40,650 | $37,500 | +$43,849 FY est. |
| Total Reserve Funding | $694,816 | $691,665 | +$3,151 ahead |