PebbleCreek HOA Budget Summary – January 2015 YTD

A copy of the 2015 PebbleCreek HOA budget has been placed on the HOA website. Finance Operations will continue publishing the monthly PebbleCreek HOA Budget Summary report in the PebbleCreek Post to keep the community informed on the status of the PCHOA budget as the year progresses. Due to the timing of actual financial results and the article cutoff date for publishing in the PebbleCreek Post, the monthly report will be lagging by two months. Therefore, April’s PebbleCreek Post will provide January 2015 financial results. The May PebbleCreek Post will provide the February 2015 financial information and so forth. However, a copy of the budget summaries will be placed on the HOA website for earlier viewing of the monthly financial results.

For the 2015 budget year, planned asset replacements identified in the Long Range Plan will be funded from the HOA Reserve (Long Term Savings). The planned and actual withdrawals will be tracked and shown in the monthly budget summary. This year there was no planned use of the funds from the Previous Years surplus for the 2015 budget expenditures. However, as the need arises, these funds may be used for unplanned projects not originally anticipated in the budget. The budget summary format used this year will again show the planned and actual use of these Other Planned Funding Sources, both Previous Years Surplus and the Reserve. Also Golf Operations had incorporated a $1/ round fee in this year’s golf greens fee pricing schedule which will be set aside for future years’ golf infrastructure expenditures. These funds will be tracked and reported separately as the Golf Infrastructure Fund (GIF) on the budget summary report.

The January budget results are positive and indicate that we are off to a good start. The overall revenue was 5.8% favorable to budget with most departments at or above budget. New home closings were positive with 17 including nine Villas for the month of January. Resale home closings finished at 14 for the month. Both new and resale home closings exceeded the budget forecast and continued the positive trend from last year.

The January expenses were slightly under budget at 0.2% under budget. The January budget finished with a net surplus of $75,070. Generally, some expenditures and improvements are budgeted early in the calendar year because the actual dates and ordering lead times are not available at the time the budget is being put together for approval. As the year progresses the actual expenditures will match up with the budgeted dollars and the year-to-date results will finish more aligned with the planned budget.

These monthly financial budget summary reports will be provided on the PebbleCreek HOA Website @ and are also available by tuning in to Channel 22. The 2014 financial binder with more detailed standard set of accounting financials are available to view at the Resident & Guest Services at the Eagle’s Nest Clubhouse desk.