1.

I’ve reviewed the January 2025 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 1/31/25:

-Cash in the Operating Account-$35,122

-Cash in the Reserve Account- $224,851

-Homeowner Assessments Receivable: $659 (no one more than 1 mo past due)

-Due from VMCA (Vista) for their share of Montaine Circle upkeep: $15,613 (rcvd $58K from Vista

-No transfer to the Reserve account was made in January. I am discussing with the Board

3.

# Closed homes as of 2/24/25: 304 (45% of 664 total planned)

2025 closings from Toll: 20

4.

Operating Deficit Year to Date: $47,881. This is part of the anticipated deficit funding that the developer has funded and continues to fund on a monthly basis.

5.

Interest on New Member Fee refunds were credited to homeowner accounts who received refunds and reduced the February HOA fees for those that have their fees automatically taken from their bank accounts by Cohere. If you have your bank automatically make the payment, that credit is still sitting on your account and will be until you instruct your bank to adjust one of their payments. From what I can tell from the accounting records, there are a large number of homeowners who pay their HOA fees in this fashion.

6.

Each homeowner who received interest on their New Member Fee refund either as a credit to their homeowner account or otherwise will receive a 1099 for the interest portion so that it can be declared on your 2025 personal tax return. I don’t yet know how and when you’ll receive the 1099, so you may consider making a note of it for your 2025 return.