1.

I’ve reviewed the December 2024 Financials provided by Matt Schuster, Cohere’s Senior Accounting Manager, responsible for temporarily producing RMCA financial reports while they were filling an open position in the department, which they have now done.

2.

Some observations as of 12/31/24:

-Cash in the Operating Account-$22,944

-Cash in the Reserve Account- $224,799

-Homeowner Assessments Receivable: $700

-Due from VMCA (Vista) for their share of Montaine Circle upkeep: $68,652

3.

# Closed homes as of 1/21/25: 284 (43% of 664 total planned)

2024 closings from Toll: 100

4.

Operating Deficit Year to Date: $105,261. This is part of the anticipated deficit funding that the developer has funded and continues to fund on a monthly basis.

5.

While interest on those fees was approved by the Board and will be paid, those interest payments were credited against your 2025 HOA fees and Cohere will be contacting homeowners to obtain social security numbers for next year’s Form 1099 in order to comply with IRS tax reporting requirements.