Finance Committee – 2013 Update

Good News for Niguel Shores! As we enter 2013, the Finance Committee has good news to report concerning theFinance Committee financial health of Niguel Shores. The community reaped the benefit of many improvements and updates in 2012, thanks to the solid stewardship of the Board, the Niguel Shores staff and the countless hours spent by various Committees working on the behalf of all residents. Thanks again for all the hard work!
There is good news to report on the financial health and status of Niguel Shores as the calendar year 2012 came to
a close:
■ Niguel Shores is expected to end the year with a surplus of monies from the operating budget. This surplus is a result of cost management and the higher income than budgeted for 2012.
■ We are projecting that the Reserve Fund will be 85% funded at the beginning of 2013. The 2012 Reserve Study (conducted by an independent service) indicated the current monies needed for planned repairs, enhancements or maintenance are available for implementation in 2013 and future work money is being reserved appropriately in anticipation of longer term needs. Keep up to date through the Seashore News on the planned enhancements to the community in 2013.
■ There are no increases in assessments for 2013! Good news for all!!
The Finance Committee is committed to keep residents updated as we move ahead and we look forward to serving the community in 2013.

—Finance Committee

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