What Financial Statements Are Telling You.

For most people looking at the financials for your community are either confusing or don't make sense.  Most will look at the bottom line to see if they stayed within budget or not.  If you aren't getting the complete financial packet then your not getting the complete picture. 

The link below is an detailed look at what these different reports tell us and how they relate to each other.  You may see a surplus on the bottom line of the balance sheet, but it doesn't tell you how or why it happened.  Contributions made to the reserve funds aren't easy to figure or even shown in most cases nor are the expenses. 

http://accounting-financial-tax.com/2011/07/financial-statements-linkage-you-must-know/