At yesterday’s board meeting (August 19, 2020), Treasurer Wayne Foltz clarified the end of year operating cash.
.Wayne Foltz: “I just want to address the cash flow estimates of operating cash at the end of the year that we had in the work session. And it’s unfortunate that a simple discussion of an estimated year operating cash could turn out to be such a media disaster. So that the membership and the media will know, we are continuously estimating the cash balance of each remaining month and at the year-end. To clarify, we still anticipate operating cash at the end of the year to be around 2.2, and that’s operating cash. And there is another 5.8 million in designated reserves and investments for a total of 8 million dollars. I just think that’s important that we get that out. And I am sorry that that happened. It’s out of my control, but that’s what happens sometimes when people don’t have the handouts.”
Lloyd Sherman: “For clarification, Wayne, as I understand it, our cash flow at the end 12-31-19 would have been seven million, thirty-seven thousand dollars. And currently the projection at year end, including all cash and cash equivalents will be around eight million.”
Wayne Foltz: “That’s correct.”year-end-cash-projection-clarification
* * *
Transcribed by Cheryl Dowden, August 20, 2020
* * *
Thank you for reading. Be sure to bookmark this website. Click here to visit the Hot Springs Village People Facebook Group.