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DISTRICTBU ZZ District 17 Annual Yard Sale: May 11. We help people clean out there houses, whether they are moving in or moving out, we take what they no longer need and raise money for the Holiday Wish Program. Please come the North Side for great treasures. If you have any questions please call Linda Spaulding at 769-3103. Attention All Districts: District 16 is having their Holiday Dinner Dance Party in the Main Clubhouse Ballroom on Dec. 16. We are a fun group and would like a district to join us share the expense and help plan the party. If you're interested, call Shirley at 845-2743. Delegate Assembly Report Joe Formino, Chairman, District Delegate Assembly Someone asked me a question about our reserve accounts the other day. A couple of other residents in the group wanted to know what we were talking about. I explained it this way. The reserve accounts at any homeowners association are the savings accounts set up to handle the repairs and maintenance of our assets and are mandatory by law. This means that our major assets, such as, buildings, pools, tennis courts, golf courses should have funds set aside to make repairs and maintain the asset. For example, a clubhouse is analyzed and estimates are made as how much money it would take to repair the plumbing, or repair the building or install new carpeting and so on. An estimate is also made as to when this should take place, or when it probably would be needed. Funds are then accumulated in an account to handle the cost at some time in the future. It is a savings account to handle an expense in the future. All of our major assets have reserve accounts and they are reviewed each year and adjusted by professional accountants. The Board of Directors with the help of the Finance Advisory Committee and the PCM Financial Advisors, review all of these accounts. Part of our monthly assessment is distributed to these various accounts so money is available when repairs are needed. epap Animal Rescue Our next meeting is May 20, in the Main Clubhouse Multipurpose Room at 10 am. Our guest speaker will be Terri Dimorino, an expert on how to prepare for emergencies involving your pets. She is also a certified dog groomer and lives next door in Four Seasons. She should have a lot of information so bring your notebooks and pens and be prepared to take lots of notes. We have been using the new kennels lately and it has been a good thing. We had one Rottweiler which was not from Sun Lakes and turned it over to Beaumont Animal Control. Then we had two Bassett Hounds that sneaked in behind security one night. Again turned them over to Animal Control. We have been very successful in getting new homes for strays and returning the ones that have gotten out of their homes in Sun Lakes. However, we are still having problems with dogs that have no IDs on collars or microchips. Steve Kneass has presented this problem to the board and hopefully we will find a solution soon. Join us! New members and visitors are always welcome. Info., Helen Mattias, 797-0583. 4 | sun lakes lifestyles | may 2013 | community news Therefore, there is a large sum of money accumulated, so what do you do with it? You invest it to make more money. With the advisors, the Board decides how to invest these funds with the least amount of risk and the maximum gain. The funds in the reserve accounts at this time amount to about 8 million dollars. Most homeowners associations are fortunate if they have half of the reserves funded, we have about 85 percent of our reserves funded. from the treasurer Operations Summary: March was another positive month with revenue exceeding expenses by $54,883. Revenue was forecast to exceed expenses for the month but by only $24,556. The net effect of this was to improve on the plan by $30,327 for the month and to a new total of $139,629 for the three months. Non-Operations: There were 11 property transfers for the month bringing the total for the year to 49. Interest income for the three months is averaging $12,649, slightly better than last year's average month. HOA: Six of the eight major expense categories within HOA were under budget for the month. Legal expense continues under budget ($14,100 for the three months). The Association has taken legal action against one of the developers. Landscaping expense is under budget by $6,900 as activity associated with the common areas adjacent to the golf course was restricted due to the lake liner project. Electricity for the common areas continues under budget ($7,500 in March). Food and Beverage: Revenue for operation for the month was $28,400 (almost 20 percent) better than forecast. All categories (lunch, dinner, etc.) were up with brunch being $16,900 better than forecast. Food costs as a percentage of restaurant revenue continue below forecast. Overall, for the three months, revenue is up 6 percent and expense is down almost 1 percent. Golf: The operation took a major hit in March with irrigation water and power coming in $25,400 over budget (refilling of lakes 1 and 2) but the expense for the three months is still well under budget. Revenue from annual dues and guest By John Clark, Master Board Treasurer fees for daily play continue below forecast but this has been more than made up by a significant increase in homeowner daily play. Altogether, revenue from these sources is better than forecast by $24,300. Fertilizer expense was under budget by $27,500 due to the delay in making this season's major purchase. Greenbelt allocation (the golf operation's expense for maintaining a portion of the common areas which is passed on to HOA landscaping expense) was over budget by $6,900 due the reduced level of activity associated with the now completed (for 2013) lake liner project. Overall, the expense of maintaining the operation for the three months is $12,700 higher than projected. Other: The total of funds increased by $20,000 for the month. Major expenditures, from reserves, were $28,100 to purchase new mailboxes for Districts 10, 12, 14, 15 and 16; $44,000 to repaint the wrought iron fencing; $28,000 to replace the Main Clubhouse Ballroom floor and $79,500 applied to the Main Clubhouse Phase lll refurbishment. Miscellaneous: As of the end of March there are 168 homeowners more than 30 days delinquent on their accounts owing $134,500. Of these, 78 (owing $96,400) are more than 120 days delinquent. Currently there are 307 residences rented within the complex. Finally: A book entitled 'Disorder in the Courts' contains actual quotes, word for word, recorded in court. Example: Attorney, "Doctor, how many of your autopsies have you performed on dead people?" Witness, "All of them. The live ones put up too much of a fight." Enuf: Comments, etc., to jclar1@dc.rr.com What if you want to add to your asset base or improve an asset? Years ago, we wanted to build bocce ball courts. Since they didn't exist, there was no money available in the reserve accounts. The Board would have to go to the membership and assess each homeowner a sum of money to build the courts. The Board at that time established a special reserve fund called the "Capital Improvement Fund." This reserve fund allowed the Board to have funds available to add a new asset or improve an existing asset. From this fund the North Clubhouse addition and the bocce ball courts were built. At the present time this reserve will pay for the improvement to the Veranda. Our Board of Directors is to be commended for the manner in which they handle our assets and monies. We are a solvent and very well managed homeowners association. It takes a lot work and dedication to accomplish our status today. community news | sun lakes lifestyles | may 2013 | 5

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