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Submitted by Treasurer, David Hauser As we head into the last half of fiscal year 2002 - 2003, I want to report to you that we are fiscally sound. Indeed, unlike the county, state and the fed we are operating in the black. There are no foreseeable circumstances on the horizon that we will dip into any red ink. At the close of January we were through 58% of the fiscal year with our expenditures running at 68 % of the 2002-2003 budget. The sale of the two parcels on North Slope and Shelter Cove are looking good at this time. The funds realized will replace the money that was expended to purchase the parcel next to the association Office. Some of these funds will be used to improve the new parcel and provide attractive parking and start construction on a new garage in the upper parking lot. The chart of accounts will have been revised and the bi-annual audit will have been completed by the time this is being read. The revision of the chart of accounts will make it easier for an auditor to complete their work in the future, saving us both time and money. PRIORITY SET FOR DELINQUENCY RECOVERY As we address the issue of annual fees, required by all members of the Clear Lake Riviera Community Association, the unpleasant issue of delinquent fees rises its ugly head. Currently there are approximately 680 accounts that represent nearly $ 59,284 owed the community. There are nearly 430 accounts of the 680, that are over 5 years old reflecting approximately $ 33,259 in delinquent fees. Most all of the properties have had liens attached to them. We have every intention, where timely and prudent, of taking every legal action to reclaim these costs. Beginning in May 2003 we will post and maintain a list of delinquent accounts, listing name, address, and APN #, on the Association's outside bulletin board and in the Association office.
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