Association Finances

The Association maintains two types of funds:

Checking Account - The Association maintains a checking account at no cost with High Point Bank and Trust Company, High Point, North Carolina.

Investment Funds - low risk instruments. At present all investment funds are in Certificates of Deposit with High Point Bank and Trust Company, High Point, North Carolina. Earnings from investments are deposited into the Association checking account for meeting budget expenditures. Investment funds are dedicated for income generation and not for operating expenses.

 

Financial Report
August 2007

Checking $1,739.95
Money Market $3,581.71
CD $13,000.00
   
Total
$18,321.66