2025-03 Monthly Financials
FINANCIAL COMMENTS AS OF END OF MARCH 31, 2025
Sorry for the delay in publication of the financial data and the supporting documents, for our accounting firm April is an extremely busy month with the tax returns and on top of that, it was also our month for the insurance negotiation, a separate memo will be issued later this week.
May is also the month of the release of Waterside Village’s new website, once released please register with the site, you will notice that it is totally different to the previous one. I want to thank Mr. Scott Perron that was the webmaster for over 20 years for Waterside. I also want to thank Director, Michel Thivierge for his technical and design work and his commitment to succeed in producing a quality new site. Thanks to Line Patrice for her dedicated input and the countless number of hours she put in.
The website will be an evolutionary process, and we hope to have more functionality by next fall. When you register and you have some comments, please send those comments via the Feedback Form on the website. Please keep reading any memos issued on the website.
The REVENUES section forecast was lowered to take into consideration the lower revenue on account 107 “screening fee”, for the year 2023-2024 we did generate $31,908.00 and this year we forecast $ 24,000.00, and all of us believe that we did have more short-term occupants than in the previous year, so something does not add up. Yes, we did fewer car checks, if we ever find that this is the reason in a future year, action will be taken.
On the UTILITIES we made a small reduction under account # 200, but we do hope that following the work done by Daniel Laviolette and Claude Rivard the reduction will continue in the right direction.
In the ADMINISTRATIVE type of expenses, we went down by $11,350.00 compared to the month of February forecast. Mainly due to reduction in administrative payroll account #300 by $7,000.00, we do not have a full or part time accountant, Monique Dell is helping the association for that task, we also reduced the maintenance payroll account #301 and the payroll taxes account #302. We will issue a separate report on the insurance very positive result over the coming days.
The MAINTENANCE section saw the forecast going from a forecast of $687,306.00 in February to $700,606.00 forecast with March. The main increase is under Building account #405 by $15,000.00, account # 406 sidewalk for the ramp and railing at the entrance of the clubhouse to meet ADA requirements and current building code by $10,000.00. Those two accounts partially offset by a reduction in account #479 for the retention pond light, following an agreement with FPL.
In total minimal change from February forecast. Thanks for reading
Michel Poirier, Treasurer
Andre Mongrain, President
May 4, 2025
