Doing a quick comparison of our unaudited financials as of 12-31-14
and 12-31-15 indicates the following:
As of 12-31-2104 we had cash $577,735, and total assets
$597,317 for Island Gate
As of 12-31-2015 we had cash $528,375, and total assets $555,060 for Island Gate
We are about $40,000 lower in cash and assets at the end of
2015 than we were at the start of the year, not a great year on the surface as
we didn’t accumulate assets or cash but when you realize we repaired the decks,
relined the pool and sealed the streets and driveways we had a great year. These projects will hopefully not need to be
redone for a number of years (forever for the decks, 10 years for the pool and
4 years for the streets). Given these
outlays and the vastly improved physical condition of our community and our strong
finances we continue to be in excellent financial condition and given the
modest projects we are under taking financially this year (deck resealing and power
washing) our assets will quickly accumulate.
In addition, we are well on track to meet any and all of our expected financial
obligations into the future.
This note was meant to ease the concerns of our neighbors
who were concerned about the financial condition of our community given the
deck project. As always if you have and comments,
questions or feedback please let us know.
