What the reports actually say
The December 2025 report shows a full-year net loss of $565,348.94. The January–April 2026 budget-versus-actual report shows a net loss of $666,780.79. These are the results printed in management’s reports; they are not a new audit or a cash-flow calculation.
| Measure | Full year 2025 | January–April 2026 |
|---|---|---|
| Total income | $2,924,653.12 | $907,217.82 |
| Total expenses | $3,490,002.06 | $1,573,998.61 |
| Net result | −$565,348.94 | −$666,780.79 |
The figures need context
The December report also shows income $572,899.77 above its printed budget. That favorable revenue result matters, even though reported expenses were higher by more. The April report includes a negative budgeted expense line for “Misc. Income - CDD/AT&T/Misc HOA Revenue,” while the same revenue category also appears in income.
The approved annual budget places landscaping under lawn maintenance; the April report places a prorated landscaping budget under “Landscaping-Plant Replacement” and prints zero for “Landscaping Contract.” Those classifications need reconciliation before individual “over-budget” figures are treated as like-for-like comparisons. Source: the approved budget.
Which transactions account for the $1,766,166.07 decrease in the special-project account?
The June 2025 balance sheet reports $2,500,000 in CNB Special Proj Acct 5755. The April 2026 balance sheet reports $733,833.93, a decrease of $1,766,166.07. The balance sheets alone do not identify the intervening payments or transfers and do not establish that any expenditure was improper. Which general-ledger entries, payments, or transfers reconcile the two reported balances?
Homeowners need one reconciled explanation
We support an independent review connecting the approved budget, general ledger, invoices, bank activity, loan balances, and reimbursements. Reported accounting losses and negative equity deserve explanation; neither figure alone establishes where cash went or whether a particular payment was improper.
Find the supporting records in PayHOA
Sign in with your homeowner account. Look for these records in the portal’s documents area; financial statements and budgets may be under Financial Resources.
- Financial Statements: June 2025 (06-2025 Financials.pdf), December 2025 (12-2025 Financials.pdf) and April 2026 (04-2026 Financials.pdf).
- Budget / 2026: 2026 Approved Budget - Corsica HOA.pdf.