As of August 31, 2007, the actual expenditures for the year are below budget, and we anticipate that trend to continue through the duration of the year resulting in a reserve. Since dues collections were down in 2006, it was necessary to use reserve funds to pay operating expenses. The Board feels it is important to maintain a balance in a reserve account to fund unexpected expenses.
As of August 31, 2007, Accounts Receivable totaled $56,832.55. Of that amount, we anticipate collecting approximately $6,000 before the end of the year. The balance of the accounts have been turned over to the Las Animas County Treasurer as Special Tax Liens. The County Treasurer will add the amounts due to the POA to individual’s real estate tax bills which we then hope to collect when the tax bills are paid next year.