The Finance Committee, chaired by Jim Wagner, oversees the financial affairs of the condominium. The plan (budget) for each year is prepared by the Treasurer and reviewed and approved by the Board of Directors. The budget becomes the plan that determines the monthly condominium fees. Check out the Hazel Lanes budget for 2022 (which includes an increase of $20 per month in March 2022.

Several months after the end of the year (December 31) the condominium's auditors, Ford Keast, review the financial statements prepared by the Property Manager under the guidance of the Treasurer. The latest financial statements are available below. Contact the Property Manager if you require financial statements for other years.:

- audited financial statements as of December 31, 2018
- audited financial statements as of December 31, 2019
- audited financial statements as of December 31, 2020

The operating reserve was initially provided by the eight amalgamating corporations ($20,043) in 2007. Since then, the operating reserve has been adjusted by the net operating results each year. The Finance Committee also oversees the investment of reserve fund cash and operating fund cash not needed in the current year.

To finance the replacement of roadways, sewers, the pool and other major capital type items, Hazel Lanes has a Reserve Fund. Monthly contributions are set aside for future needs and are based on a study by a professional engineer. The 2019 Reserve Fund Study is now available

More details of our financial affairs can be found in my 2020 Treasurer's Report