Snow dividend

The lack of snow this winter enabled the board to purchase new furniture for the pool area. The original furniture served us well but after 8 seasons needed replacement. The board purchased 35 lounge chairs and 30 chairs we also purchased 4 new tables and plan on purchasing new umbrellas and some flower pots. Money was budgeted for the furniture next year but the lack of snow enabled the board to purchase it this year without taking funds from our savings. We were also able to donate our old furniture to habitat for humanity. We hope you are looking forward to the pool season and enjoy the new furniture.

Please note the revised Island gate clean up day

March 31st

Spring Fix-up Day at Island Gate Saturday March 31st

Due to the tremendous success of our fall beautification day last September, we are going to try it again. 

On Saturday March 31st at 9 am in front of the pool, we will be meeting to cleanup, fix up and beautify the community.  It has been a fairly mild winter so there has been almost no damage to the community but we plan of collecting trash that has blown around, planting some spring flowers, patching bare spots in the lawn and just make the place look great to start the season.

As always we need your help so please come by, pitch in, lend a hand, the work won’t be very strenuous and judging from the feedback from our neighbors who volunteered in the fall they had a terrific time, a few laughs and the great feeling that they were helping make the community a better place. 

So come on down, bring some gloves, bring the kids and we will supply the rest.  We should be done by about 11 we look forward to seeing you there. 

If there are any problems or issues with or around your home please let us know.

Thanks and we hope to see you on the 31st.    We are doing it rain or shine.

RSVP to cao50@aol.com

2011 Financial Update

A year over year review of our unaudited balance sheet (these figures are unaudited so adjustments may be made to the final numbers) indicated some financial improvements  from Dec 31, 2010 to Dec 31, 2011.

Cash and cash equivalents are up $104,000

Accounts payable or the money we owe dropped $33,000

Short term liabilities are down $36,000

We funded $60,000 to reserves and $16,000 deferred maintenance.

Total reserves increased $81,000

Total equity increased $133,000 and the balance in out checking account increased $20,000.

Our current year net income went from a $34,000 loss in 2010 to a $26,000 gain in 2011.

Basically the community spent less, saved more and paid the bills in a more timely manner. 

Although it will be hard to match in 2012, we hope to continue to keep the positive financial momentum going in 2012. 

As noted these are UNaudited figures, when we receive our audited financials we will be sure to share them with you.  In addition, if you would like further financial information on the community we would be glad to share and review it with you.