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from the treasurer Operations Summary: Revenue exceeded Expenses in April by $18,005. The plan for the month however, anticipated $53,379 which has resulted in a reduction of $35,374 to the year to date positive variance which now stands at $104,811. Ignoring the budget plan, revenue for the four months exceeds expense by $310,115. Non-Operations: April was another big month for property transfers with 23 being recorded and a total of 72 for the year. This raises the monthly average to 18 versus 14 per month in 2012. Interest income for the four months is averaging $12,650, slightly better than last year's average month. HOA: The expense for the recent election of $16,400 was booked in April; the budget anticipated it in May so there is a negative variance in April and an offsetting positive variance in May. Legal expenses of $12,300 related to the lawsuit the HOA filed against developer Pulte, were charged in April . The suit has now been settled, without going to trial, with the HOA being awarded $600,000. The funds will be used to mitigate flooding off the hillside above Breckenridge. Golf: Revenue is essentially on target, a combination of higher income from fees offset by a shortfall in revenue from Pro Shop merchandise sales. Expenses for April were $41,212 over budget and for the four months, $58,200 over budget. Purchases of fertilizer, chemicals and pesticides were $29,800 over budget for the month but are still within their annual budget. The Greenbelt Allocation (the credit the golf operation receives for work performed on the common areas) is $74,000 less than expected year to date with the main reason being the constraints put on activity by the lake liner project and the championship course going without water for a month. Approximately $68,000 By John Clark, Master Board Treasurer of the $74,000 accumulated during the first three months of the year. The month of April was much closer in tracking to budget (off by $5,900). On the positive side irrigation water and power are under budget by $36,800, almost a third less than budgeted. Food & Beverage: Revenue for the four months has a positive variance to plan of $14,000 even with the shortfall of $9,000 in April. Brunch revenue was short by $12,400 in April but, for the four months, is still positive to the plan. On a percentage basis, both food and labor costs continue to be less than anticipated. As a result, the expense of maintaining the food and beverage operation for the four months is $26,600 less than projected in the annual plan. Other: The total of the funds decreased by $74,800. Major expenditures, from Reserves, were $90,500 for lake liners: replacement golf course equipment-$29,800; Mail boxes-$70,800; initial Sandwedge engineering-$15,200; replacement of NCH fitness room floor-$9,300. In addition, but not listed, the Otter Fund is under budget by $2,388 for the year. This is because they've been healthier than in past years because of carrots they've been eating from the carrot patch adjacent to the 17th tee box on the Championship Course. Miscellaneous: As of the end of April, there are 163 homeowners (down five) more than 30 days delinquent on their accounts owing $147,700 (up $13,200). Of these, 70 (down eight) owing $101,500 (up $5,100) are more than 120 days delinquent. Finally: A definition of Hospitality: "Making your guests feel like they're at home, even when you wish they were." Enuf: Comments, etc., to jclar1@dc.rr.com community news | sun lakes lifestyles | june 2013 | 5

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