Relief... for Now

At tonight's Board meeting, Randy Kenyon presented the updated financials for the District. The good news is that we actually have a bit more than we thought. Through a series of favorable events, we've ended up the year with a reserve balance of $3.1M, or 7.4%. This is great, considering we were staring down a <3% reserve at the last meeting.

Here's the bad news. The big swings were due to a lot of one-time monies, so the deficit gets bad, quickly. Within 2 years, we'll be down to ~1.5% reserves if something doesn't change.

Hopefully folks are smart enough to focus on the long term picture, which remains bleak. "Hope" is not a substitute for "planning".