OPA finances still in black thanks to popular amenities

By Cindy Hoffman Staff Writer

(April 20, 2023) General Manager John Viola continues to provide a sunny outlook on the financial health of Ocean Pines.

“We are 11 months in. I think it is safe to say we will be at the $1.1 million, plus or minus $100,000, depending on the weather,” Viola said.

While there were a lot of maintenance expenses that hit in March, Viola said we were pretty much flat for the month.

Net revenue was $277,000 for March and expenses were $1,129,000.

Viola cautioned that there will be more expenses coming.

In February, the numbers were fa- vorable by $1.1 million.

“Ninety percent is revenues over budget. We are growing everywhere. It’s across the board. So, 90 percent is positive on the revenue side, and the expenses side is positive by about 10 percent,” Viola said.

Monica Rakowski delivered the treasurer’s report for March.

“As of March 31, 2023, the association had approximately $14.4 million in cash. Cash increased about $500,000 from the same time period last year.

“Cash decreased about $1.4 million from February 2023. We have $7.1 invested in CDARs and remaining $7.3 million in insured cash sweep, money market and other operating accounts.”