Hickory Farms

March 2024 Hickory Farms Newsletter

- Editor, Jennifer Maloney (Farm House Ln)

2023 HFCA Review of Books and Accounting

Submitted by Judy Deng, Treasurer

Memorandum for Hickory Farms Board of Directors

Subject: 2023 Annual Review of the Books and Accounting Practices
Date: January 17, 2024

On January 17, 2024, the HFCA Treasurer, Judy Deng, and the HFCA Assistant Treasurer, Tad Weed, performed an annual review of the 2023 HFCA books and accounting practices via Microsoft Teams.

The review included detailed analysis of the accounting practices, financial statement with all income and expenses, receipts/invoices, deposits, and banking statements to include checking and money market accounts. This review is done under the authority and oversight of the HFCA board and in lieu of an audit by CPA firm, which would cost the community $4,000-$6,000 a year.

All records and statements are in good order with no concerns. The use of MS Teams along with electronic banking provided increased transparency and efficiency for accounting transactions. Common practice includes every invoice being scrutinized for accuracy, then double reviewed prior to payment being authorized.

2023 Financial Statement Summary
Total Income: $58,659
Total Expense: $58,217
Net: $442

One deposit of $12,800, budgeted and year-end surplus, from the checking account to the Capital Reserve Fund (money market) was made on 1/17/2024 bringing the Capital Reserve Fund balance to $77,372. The Capital Reserve Fund provides resources for repair/replacement of capital items and serves to protect HF residents from additional financial assessments if emergency repairs/replacements are needed that exceed operating funds.

In summary, the 2023 HFCA fiscal year reflected accurate accounting and sound business practices. Therefore, we, the undersigned, offer this annual report with no concerns of the bookkeeping practices, documents and statements for the 2023 fiscal year.

- Judy Deng - Treasurer
- Tad Weed - Asst. Treasurer


2023 End of Fiscal Year Report
Income 2023 Budget 2023 Actual
Assessments $55,638 $55,618
Assessments - Late Fees   $200
Assessments - Prepayment    
Interest   $1,483
Advertising $550 $624
Legal Fees Recovered    
VPOAA Disclosure Fees $875 $734
Total Income $57,063 $58,659
Common Area Maintenance $27,015 $20,509
Common Area Improvement $3,225 $2,198
Common Area Remediation $5,913 $14,100
Insurance - Director's Liability & Surety $2,795 $902
Insurance - Commercial Crime $894  
Insurance - General Liability $345 $250
Legal Fees $2,303 $3,015
Postage $269 $230
Neighborhood Watch $198 $109
Printing $1,677 $240
Social Activities $2,000 $1,467
Tax Preperation $374 $950
Taxes & Government Charges/Fees $276 $96
Capital Reserve Deposits $5,975 $12,800
Administrative Fees $1,750 $1,172
Strategic Projects $2,000  
Bank Charges $54 $179
Total Expenses $57,063 $58,217
Income Less Expenses $0 $442
Capital Fund
Withdraws from the Year $0 $0
Deposits from the Year $5,975 $12,800
Year End Balance $70,547 $77,372

Amendment to HFCA Bylaws

By Telah Jackson, Vice President

On February 13, 2024, the Board of the Hickory Farms Community Association voted to amend its Bylaws to include the following:

Article VII – Powers and Duties of the Board of Directors, Section 1(f), is hereby added as follows:

Impose penalties that may be established by resolution of the Board of Directors, including but not limited to imposition of violation charges, for failure by a Lot Owner to comply with any of the terms of the Association’s Declaration, Bylaws, and the rules and regulations. Pursuant to the Association’s Due Process Procedures, a Lot Owner will be given the opportunity to be heard and represented by counsel before the Board of Directors, prior to imposing any penalties.

Presidential Primary Elections

Tuesday, March 5, 2024

All registered voters may vote in this election. Not sure if you are registered? Please visit the Virginia Department of Elections website.

Polls are open from 6 a.m. to 7 p.m. on Election Day. If you are line by 7 p.m., you will be able to vote.

Join Our ListServ!

Don’t miss any news! There’s no better way to stay in touch than through our Hickory Farms email listserv. Visit Email Listserv and follow the instructions.

HFCA Board Meeting Notice

HFCA Board Meetings are held via Microsoft Teams. Unless otherwise notified or due to an unforeseen change, HFCA Board Meetings will be held the 2nd Tuesday of the month at 7 pm.

To join a Board meeting, contact any HFCA Board Member or send a request to join to hfca@hickoryfarms.org. You will be provided with the Zoom meeting URL, meeting number and passcode.

Student Yellow Pages

Lily Bucher lrbucher4@gmail.com Babysitter/Mother's Helper, Pet Sitting
Kiera Stark commonareas@hickoryfarms.org Pet Sitting
Greysen Berg 210-428-5535 Yard Work, Leaf Raking
Cedar Batz 571-398-1467 Dog Walking, Dog Sitting

If you offer services such as those listed above, or others such as tutoring, etc., and wish to be included in future listings, please email the Newsletter Editor at newsletter@hickoryfarms.org.

Newsletter Item Deadline and Distribution Notice

Newsletter items are due the 25th of the month, for the next month’s issue. Please send submissions to

Newsletters are distributed via the HFCA listserv and posted on the HFCA website. All are encouraged to
access the digital newsletter via the listserv or the HFCA website.