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5/17/2008 10:31:29 PM
 
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Section 5: OPA Board Subject: Ocean Pines Report Msg# 561808
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| Look at the GM report. Absolutely nothing of substance. It is essentially an advertisement for OPA amenities. | ||||||
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For reference, the above message is a reply to a message where: Bill, I just received a the Spring 2008 edition of the Ocean Pines Report. I direct your attention to page 10 and the Financial Report for 11 Months Ending 3/31/08. I have to say that the results are very misleading and neither the GM, Controller or the Board seem to mind. According to the Net Operating Summary, the Actual Net Operating (income) is $3,881,757. Obviously, net income after 11 months is not $3.9 million. Other expenses are missing - at least those from reserves. That brings me to the Capital Summary. I suppose this is just expenses (unlike the Net Operating Summary) but who knows. What is this supposed to tell the members? I don't understand how we have a $1,065,000 variance - do we have any budgeting integrity? Do you believe this report is comprehendable to most? I look forward to you reading the post; perhaps you may have the "time" to respond.
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