2023 Annual Audit Approved

The financial position of any organization is a key component to its success.  That’s why receiving a clean unqualified opinion from an independent auditing firm is at the top of the Association’s list every year.  Symphona presented the 2023 financials and audit report to the Finance Committee in March.  As in prior years, the Association received an unqualified opinion, which is the gold standard.

Click here for the 2023 Audited Financials.  The Finance Committee’s guiding principles which set forth the values of the Finance Committee are:

• Ensure Financial Transparency
• Maintain Positive Cash Flow
• Maintain Positive Net Income
• Sustain Appropriate Reserves

For 2023, the Association ended the year with a positive net income of approximately $3,737,000. The cash and cash equivalents balance decreased by approximately $3.5 million.  Approximately $2.9 million was invested in infrastructure and equipment.

The reserve fund balances increased from approximately $18.8 million on December 31, 2022 to $21.1 million on December 31, 2023.  Each year the Finance Committee evaluates the appropriate level of reserves in each fund (Repair & Replacement, Storm, General, ARB, and Community Enhancement) to ensure the Association has appropriate funds to invest in and protect for the future.

Please contact Matt Nemes with any questions at mnemes@pdpoa.org.