Hillcrest Building 11 — Five Year Comparison Report
| 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | |
| Operating | 1,504. | 5,484. | 4,209. | 4,476. | 2,199. | 4,660.00 |
| Savings | 154,301. | 85,296. | 82,462. | 26,879. | 27,722. | 63,023.00 |
| Contingency | 6,627. | 6,596. | 6,598. | 2,011. | 2,863. | 719.00 |
| Delinquent | 47,964. | 45,559. | 29,229. | 15,985. | 34,304. | 0 – |
Here you will find the year-end financial reports as required to be reported to residents annually. Please click on the link to review the Profit & Loss report and Balance Sheet for any particular year.
- 2014 Year End End Report -> Hillcrest 11 Year End 2014 Financial Report
- Analysis: Approximately $13,000 of the 2014 special assessment was used for the following:
- Emergency replacement of AC pump/valve and refurbishment of old pump: $4,563.64
- Flood insurance requirement by FEMA (non-budgeted item) $3,156.00
- Entrance foyer flooring: $2,950
- Concrete restoration and stairway railing epoxy work: $1,500
- Parking lot and entrance pole lighting installed: $1500 (approx)
- Analysis: Approximately $13,000 of the 2014 special assessment was used for the following:
- 2015 Year End Report – > Hillcrest 11 Year End 2015 Financial Report
- Analysis:
- Budgeted income due to rental of 312 was short by $6,250 due to bank foreclosure of unit. Bank foreclosure of unit also resulted in bad debt write off of $19,645.70 of which only $4,000 in bad debt was budgeted. Association had to write off debt beyond the statutory requirement of what a bank must pay upon foreclosure of a unit.
- Building repair and maintenance was under-budget by $1,375.14 (savings)
- Landscaping: Due to being forced to replace landscaping company and initial clean-up of property, landscaping exceeded budget by $2,972.44
- Analysis:
Hillcrest Building 11 Association Guidelines and Resident Notices 