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from the treasurer Operations Summary: 2012 is now behind us and it finished on a high note. The Association's plan for the month of December anticipated income exceeding expense by $50,300. Income actually exceeded expense by $128,358, an improvement of $77,410. This resulted in the Association ending the year $391,528 better than the plan (the plan is to break even since the Association is non-profit). The surplus is not expected to affect the Association's tax exempt status as it is below what we believe to be the threshold (5 percent of revenue). Non-Operations: Property transfers were an active area in December with 15 transfers being recorded bringing the total for the year to 170. This compares with a total of 137 for all of 2011. The Association's investments earned $154,157 in 2012 which is less than 2011 (by only $7,586). This is because of continuing low interest rates even with a larger investment base. Note: These are all unaudited figures and will not become final until the Association's outside auditor completes the annual audit and submits his report in April. The Month: Expense areas contributing to December's performance included salary and the related benefits for all functions (HOA, Golf, Food and Beverage) which were $22,600 under budget with the main factor being unfilled positions. All positions have now been filled. Utilities expense for both the common areas and the golf courses was $31,400 with electricity and water the largest under budget items. Weather was definitely a factor here. The restaurant and lounge had another great month. Revenue was up and expense was down, a great combination. 4 | sun lakes lifestyles | february 2013 | community news By John Clark, Master Board Treasurer Excluding the operation's salary and benefit expense (which is included above), the operation contributed $13,200 to the Bottom Line. The golf operation, which has been impacted by less than expected revenue, had a reasonably good month missing its target for the month by only $2,250. The Year: The Association managed to improve the balances (and its financial strength) in each of the three operational contingency funds. The OPS Contingency Funds table compares the 2012 and 2011 year end balances and shows the increase. The Association's capital assets increased during 2012. As a result, even with the increase in Reserves, the percent of the Repair and Maintenance Reserves to the 'Theoretical Ideal Reserve Balance' decreased from 86.5 percent in 2011 to 82.2 percent. This and action on the balance of the $391,528 surplus will have been reviewed and decided on by the Board by the time this article is published. Finally, the Association is starting 2013 in as strong a financial position as it ever has and 2013 should be another good year. However it is well to remember what one wise old philosopher once said, "Predicting is tough, particularly when it involves the future". Enuf: Comments, etc., to jclar1@dc.rr.com (new email address) Note 1: The financial plan for 2013 assumed there would be at least a surplus of $150,000 for 2012 and made that part of the 2013 plan in order to assist with maintaining the monthly assessment at $220. It's Election Time – We Want You! generally speaking By Jeremy Wilson, General Manager If you're committed to bettering our community, put that passion to work and run for a spot on the association Board. The association will be holding elections for board members in April. We're looking for dedicated homeowners like you to help us shape and implement our governing rules, handle association finances, make important decisions that affect the entire community and much more. If you're interested in running for the board, please speak with either a board member or me down to find out more information, including responsibilities of the open positions and how to get your name on the ballot. As an organized Homeowners Association, we have a board to help our HOA operations run smoothly. The Board reserve funds, which pay for any major repairs the association may need. The Board is responsible for the Association's finances, and collecting assessments is how it ensures that the association remains solvent. Finally, the board acts on behalf of the association by hiring managers, attorneys, contractors and other professionals who help better the association. Board members also help conceive and lead many of the projects that will improve the HOA. While it's a big job, Board members are Another major responsibility of the happy to serve the residents and make Board is to collect assessments from the community a great place to call home. homeowners. Collecting this money Working on the Board can be an enriching is important for the stability of the experience and can help you make lasting, Association, because the assessments pay positive changes to the community. So for the amenities enjoyed by all residents. inquire today and get started for a chance Assessments also help to replenish the to earn a seat on the Association Board. consists of volunteers who execute a wide variety of tasks, many of which you may not be aware, but that affect every resident. One of the most important things the Board does is to create and enforce the association rules. While some residents may not like being told what they can and can't do, ultimately the Board is looking out for the greater good. By enforcing the rules, the board is doing its best to keep property value up and conflicts down. Of course, the board wants to make sure the rules are beneficial for the majority — and hopefully all — residents. 2013 Board of Directors Election The Sun Lakes Country Club Homeowners Association Annual Meeting of the Membership and Election of Directors will be held on Wed., April 10, in the Main Clubhouse Ballroom. There will be two positions on the Board open for election. Each newly elected director will serve a two-year term. Any homeowner interested in running for a position on the Board should fill out a Board Candidacy Form available for pick up by the interested candidate only at the Administration Office beginning on Fri., Feb. 1. Candidacy forms must be returned by the interested candidate only by 5 pm on Wed., Feb. 20. Campaigning will be permitted following the Monday, March 4 Meet the Candidates Forum. The Inspector of Election will review each candidacy form it receives and place all eligible candidates on the ballot. Two "Meet the Candidates" forums will be conducted. The first forum will be held on Mon., March 4, at 6 pm and the second forum will be held on Tues., March 5 at 10 am. Both forums will be conducted in the Main Clubhouse Ballroom. Ballots will be mailed out on Tues., March 5. community news | sun lakes lifestyles | february 2013 | 5

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