Finance Committee Mission
The Finance Committee is established for the purpose of reviewing various financial matters concerning the Districts, including budgets, audits and financing matters and to further make recommendations to the Boards regarding such matters.
The focus for 2024 from the FRMD 2024 Business Plan:
- Finalize and oversee the 2024 Annual Business Plan.
- Spread 2024 final budget by quarters.
- Review quarterly Financial Statement and budget variances.
- Oversee 2023 independent audit.
- Conduct an updated Reserve Study
- Plan and oversee the 2025 budget.
- Initiate actions to combine the District 1 Reserve Study Fund and Capital Projects Fund for the 2025
- Produce the 2025 Budget.
- Track bond compliance requirements.
- Project out capital and repair needs for the next 5 years using the to-be-updated Reserve Study and working with the Retreat & Pool Committee, the District Engineer, and the Community Manager.
- Develop 3-5-year strategic projection of revenue and expenses.
- Monitor and analyze the Special Revenue Fund balances relating to Private Access Area Policy.