6 | SUN LAKES LIFESTYLES | JULY 2020 |
As expected, the situation in April is a continuation of the inactivity we saw in March. Revenue in Golf, and the F&B operations were down
as expected. Expenses were also less, although most maintenance activities continued.
Interest Revenue showed a less than budget. We are invested in T-bills (approximately 45% of our total investments, receiving a higher
return than is currently available for CDs. Accordingly our interest income will be reported as it occurs rather than on an accrual basis. The
interest budget will not be revised until next year, but we will provide insight to the expected returns this year as we get the information on
interest payout dates.
FSR has reduced current staffing from 97 down to 67, through furloughs and lay-offs, in an effort to reduce costs. Significant reduction in
labor costs have been noticed in the F&B and administration areas. F&B is trying to assist homeowners by maintaining the curbside to-go in
effect, but they need help from residents.
Treasurer's Report By Dan Comerford, mainder01@gmail.com
