Announcement

Another successful summer, and looking ahead to the next budget cycle

Thursday, October 5, 2023

The following appeared in the fall 2023 Ocean Pines Report quarterly newsletter: /web/pages/quarterly-newsletters

As we wrap up another busy summer in Ocean Pines, we’re happy to report another strong financial showing.

We are currently tracking approximately $300,000 ahead of our fiscal-year budget expectations. Through the end of August, we have also already exceeded our Membership budget by approximately $30,000. This favorability is a testament to the hard work and dedication of our staff, and to the continued support of our community.

Much of the positive performance we've experienced can be attributed to the overall success of our amenities. These facilities, which make Ocean Pines such a special place to live, have played a pivotal role in driving our financial favorability. As we continue to invest in and improve our amenities, we expect to see even more positive outcomes in the coming years.

We’re also happy to report that the audit for the fiscal year 2023 is now behind us and, once again, we received a “clean” audit report with no audit adjustments needed. That rating is the highest level of assurance an auditor can provide, and it shows our commitment to financial transparency and sound fiscal management.

Lastly, it's important to note that we are already in the beginning stages of planning for the next fiscal year. The budget process is a critical part of our financial strategy, and we do this each year with input and guidance from the Budget and Finance Committee.

The committee, and then the Board of Directors, will host a series of public meetings on the FY25 budget starting in January. Homeowners will have a chance to weigh in on their priorities during those meetings.

As always, we value the input and feedback from our homeowners, and we appreciate the continued support from the community as we work hard to be good stewards of your assessment dollars.

Announcement

Another successful summer, and looking ahead to the next budget cycle

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