VAW - HOA FINANCIAL OPERATIONS SNAPSHOT

AS OF 6-30-22
ACTUAL BUDGET VARIANCE
TOTAL INCOME $ 255,600 $ 248,760 $ 6,840
Administrative Expense $ 25,993 $ 19,350 $ 6,643
Maintenance and Repairs $ 70,954 $ 66,587 $ 4,367
Payroll $ 14,134 $ 14,803 $ (650)
Utilities $ 54,247 $ 49,842 $ 4,405
TOTAL EXPENSES $ 165,379 $ 150,717 $ 14,662
NET ORDINARY INCOME $ 90,220 $ 98,043 $ (7,822)
TRANSFER TO RESERVES $ 75,000 $ 75,000 $ 0
NET INCOME $ 15,220 $ 23,043 $ (7,822)

SIGNIFICANT VARIANCE NOTES:
Administrative Expenses:
• The majority of our administrative expense overage is due to our new higher insurance costs as
well as full payment of the premium for the Umbrella Liability policy.
Maintenance and Repairs:
• Maintenance and Repairs have ticked up a bit, and this is the first time this year that the category
has been over budget.
• Landscaping expenses are over budget due to expenses for grading and French drain installation,
as well as palm tree trimming performed in June, but not budgeted until July.
Utilities:
• Electricity is running under budget, while the water, sewer, gas and garbage continue to run over
budget reflecting current increased energy costs.
CAPITAL RESERVE NOTES:
The Capital Reserve account balance stands at $288,155.74. Capital reserve spending year-to-date is
now at $98,099.30, reflecting expenses of $32,500 paid to Sun Desert Technologies for OTA
installation, $2,652.10 paid for new equipment for the fitness room, $911 for the second half of the
new Village Map in front of the clubhouse, and full payment to Unforgettable Coatings for Phase 3
painting project.