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6 | SUN LAKES LIFESTYLES | SEPTEMBER 2021 | Narrative for June Financials HOA Operations for the month of June resulted in a loss of $55,131 and was $8,944 over Budget. This brings year to date Net Income to $791,476 and is $722,927 better than Budget. June results were adversely impacted by a non cash allocation of $98,987 to the Bad Debt Allowance account and due to increased water usage. The need for increasing Bad Debt expense is due to the number of foreclosures on homes with reverse mortgages and the HUD issues in collecting delinquent HOA fees; and increased water usage is due to the extremely hot weather experienced in June. These over-budget costs were somewhat offset by under budget Reserve spending. Through June, YTD better than Budget results are primarily due to less than Budget Reserve Spending of $533,459 and significantly lower than Budget spending for the Restaurant and Lounge. Restaurant and Lounge revenues continue to be significantly below Budget but are somewhat offset by lower spending. The ramp up of the Restaurant and Lounge continue to be constrained by staffing issues. Despite the June negative variance, Golf Operations through June are $73,133 better than Budget primarily due to Golf revenues being better than Budget by $78,910. Cash and cash equivalents (investments) increased and remained strong in June at $13, 657,888. The increase was $316,431 and was offset by an increase of Current Liabilities of 291,338. Increase in Current Liabilities was primarily due to an increase in Accrued Payroll. Caesar salad and baked potatoes are once again being offered – all day, every day. You'll not see them listed on the menu yet, so just ask your server. Sunday Brunch is back! Every Sunday from 10 am to 3 pm. There is a full selection of goodies including an omelet bar, fresh waffles and syrup, bacon and sausage, biscuits and gravy, a carving station and salad bar, and a selection of Sunday lunch items usually including fish or chicken, hot vegetables, rice or potatoes and more. And don't forget the yummy dessert station! All of this for only $17.95! Or make it a Champagne Brunch for just $21.95. Happy Hour has been expanded to two days and starts an hour earlier. Every Wednesday from 3 to 7 pm and every Sunday from 3 to 7 pm! Both Happy Hours feature Frozen Margaritas, Piña Coladas and Vodka Lemonade for only $4, plus special pricing on beer and house wine. Cheese quesadillas, chicken wings, and veggie plate all available for just $4. The amount of money allocated to the Restaurant and Lounge operation every month from your HOA dues is $8.12. You can find this information on the Sun Lakes website under Reports and Forms/ Budget Reports/2021 Budget on page 6. You can make a difference! Please visit the Restaurant or Lounge this month and help sustain this wonderful amenity. ~ Beverly Simmons, Master Board DID YOU KNOW? DID YOU KNOW? News from the Restaurant & Lounge

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