Financial Statements

The following Income Statement was prepared by James Mommsen, CPA.   Please note that at the inception of the CLTA the Board of Directors  determined that reserve funds would be set up to provide for future expenses for asphalt, roof, trees and concrete.  In addition funds are also reserved for miscellaneous repairs, painting, landscape repairs, sealcoating, and professional services. The amount reserved each year is $34,714.20.  In the Income Statement you will note that these reserves are deducted from ordinary operating income to produce a true picture of the Associations financial results for the year.  Thus, while ordinary operations result in net income, the Income Statement shows a net loss once the reserves are deducted.  Food for thought at the next residents meeting on May 8, 2017.

2016 Income Statement


Financial Statements are prepared by Peg Berezewski, CPA, CFE, CGMA –  Treasurer CLTA

Financial Statements for the quarter ending 3-31-2017

Income Statement 1-1 to 3-31-2017

Balance sheet 1-1 to 3-31-2017

Checking and Savings Account Balances as of 3-31-2017

Designated Capital Account 3-31-17

Regular Checking 3-31-17

Posted 4-07-2017

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