Pre-meeting financial brief
Across four highlighted operating categories, the supplied March income-and-expense report shows $44,970 actual against a $30,200 monthly budget, a $14,770 unfavorable variance. This is a review queue from the supplied reports, not a conclusion about the association's overall financial condition.
$44,970 March actual − $30,200 March budget = $14,770 unfavorable variance.
Material budget-to-actual changes
| Category | Budget | Actual | Variance |
|---|---|---|---|
| Repairs & maintenance | $6,000 | $12,450 | +$6,450 |
| Snow removal | $7,500 | $14,800 | +$7,300 |
| Master insurance | $8,900 | $9,600 | +$700 |
| Common utilities | $7,800 | $8,120 | +$320 |
March income-and-expense report, highlighted operating accounts. The adopted budget remains the comparison source.
Variance context: what is behind the numbers?
A variance is a signal, not a conclusion. BoardCurrent looks for documented seasonality, billing timing, one-time events, and vendor changes before describing why an amount differs from budget.
| Category | What the supplied files support | Review interpretation |
|---|---|---|
| Snow removal +$7,300 | The expense register contains two March charges totaling $14,800. The manager note says they cover late-February storm service billed in March. | Supported seasonal and timing context. March is above its monthly allocation, but the supplied note indicates that part of the activity relates to winter service performed in February. Compare season-to-date actual with the seasonal budget before concluding that snow removal is overspent. |
| Repairs & maintenance +$6,450 | The ledger identifies a $6,450 roof-patching payment, but no invoice, work description, or manager explanation was supplied. | Cause not supported. The payment may be one-time work, but the supplied files do not establish that. Request the invoice and manager context rather than guessing. |
| Master insurance +$700 | The amount appears in the income-and-expense report. No policy invoice, installment schedule, or explanatory note was supplied. | Explanation missing. Confirm whether the difference reflects installment timing, a policy change, or another documented cause. |
| Common utilities +$320 | The actual and budget amounts are supported by the income-and-expense report. | Below the sample review threshold. Retain the calculation, but do not elevate it without another signal or manager concern. |
Snow-removal context comes from the supplied manager note and expense register. BoardCurrent labels that explanation as supported; it does not apply generic assumptions about winter expenses.
Repairs and insurance remain open because the supplied package does not establish why those variances occurred.
Cross-report checks
- The income-and-expense report shows $12,450 for repairs and maintenance; the supplied expense register totals $11,875 for the same period.
- The selected general-ledger detail agrees with the $12,450 income-and-expense total but does not explain the $575 register difference.
- Check 1842 records a $6,450 roof-patching payment. No vendor invoice or manager explanation was supplied.
The $575 difference is preserved for manager confirmation. BoardCurrent does not choose which supplied report is authoritative.
Aging and cash signals
| Metric | February | March | Change |
|---|---|---|---|
| Operating receivables | $13,090 | $18,640 | +$5,550 |
| Operating cash | $184,200 | $160,300 | −$23,900 |
| Payables over 60 days | Not supplied | $3,200 | Review |
Receivables and cash changes are calculated from the February and March supplied packages. No cause is inferred.
Questions for the meeting
- Which repairs total should be used: $12,450 or $11,875?
- What support and approval correspond to check 1842?
- What explains the $5,550 increase in operating receivables?
- After assigning the late-February charges to the winter-service story, how does season-to-date snow-removal spending compare with the seasonal budget?
- What action or explanation is associated with the $3,200 payable aged over 60 days?
Bank statements were not supplied, so cash was not reconciled. Vendor support for check 1842 was also not supplied.
What this sample demonstrates
BoardCurrent cross-checks the supplied monthly reports and prepares a focused review package. It does not audit the books, reconcile bank accounts, verify transactions, or replace the manager, board, accountant, attorney, or another qualified professional.