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FINANCIAL MATTERS

IN CONCLUSION

On the financial front, John Zaloom is put ting monitoring and accounting systems in place to help us track our progress against budget, de velop more accurate forecasts, and analyze our expenses to gain efficiencies and savings. Re cent operating results have been performing bet ter than budget.

In closing, it ’ s fair to say that while there is much work to be done and it would certainly be premature to declare victory, we are on the right path and making great strides. I hope you ’ ll agree that there is truly much to be excited about as we approach another great season at Frenchman ’ s Creek! Sincerely,

Click here to see the Financial Summary prepared for the August Board Meeting.

Michael Azeez President

STRATEGIC PLANNING & GOVERNANCE Your Board has been collaborating with the Strategic Planning and Governance Committees on several significant projects and we plan to have proposals for the community to consider this Fall, including changes to our nominating process for the Board. The Strategic Planning Committee continues to work with GGA to final ize our strategic plan later this calendar year. We have also been working on finalizing the plans for a new full - service real estate office, monetizing some of our vacant land, and poten tial modifications to our legacy transfer policies. Each of these issues are more complex than the casual observer would appreciate, and we are taking the time to fully understand the implica tions and nuances of any changes. I ’ m looking forward to begin rolling out the details of all of these important initiatives as soon as we can. Our Clubhouse construction project is pro ceeding well, and you will see noticeable pro gress on the building site. We are planning de tailed quarterly reports on the budget and sched ule; our first report will be as of September 30 th and available for your review in early October. CONSTRUCTION PROJECT

Upcoming Board Meetings

On the following Tuesdays at 2:30 p.m.

2023 September 26 October 24 November 28 December 19 2024 January 23 February 27 March 26 April 23