The first four months of energy costs for 2014 are in and the results are not good.

Net energy costs for the January to April period of 2014 vs the same period in 2010, are up $16,654.46. Rate adjustments have been considered in the comparative analysis in order to ensure a true and accurate comparison.

This brings the total accumulated, net increase in energy costs since installation of the new heating system to $98,971.46. This considering the fact that we were promised that the new heating system would provide SAVINGS of this amount or more by this time. A $200,000 discrepancy in promised savings versus actual increases has clearly resulted in a major negative impact to the Corporations finances. This deficiency has continued to be reflected in depleting Common Expense and Reserve Funds. Cash calls to unit owners will of course continue in order to pay for these ongoing and dramatic cost increases.