ANNUAL BUDGET| BY YEAR
BALANCE SHEET | OWNERS REPORT | BUDGET TO ACTUAL
2020 Financial Reports
The following monthly reports are produced each month for the Budget and Finance Committee, and the Board of Directors. They provide a comparative status of the financial status of the Association, but are not fully prepared in accordance with Generally Accepted Accounting Principles (GAAP), in that they are not prepared on a fully accrual basis. This is done in order to provide more timely information. While insurance, elevator maintenance, and fire alarm maintenance are presented on an accrual basis, other items are not presented in such a manner. For example, in order for the cost of Water and Sewer to be produced on a GAAP basis, the report could not be prepared until 2 months after the end of the month.