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from the treasurer Operations Summary: Six months of the year are behind us and, at this point, the Association's revenue exceeds its expenses by $123,092. That is the good news. Somewhat offsetting the good news is the fact that the Association's plan for the first six months projected revenue would exceed expense by $211,843, a shortfall of $88,751. Much of this occurred in June which was $64,486 short of expectations. The Board is reviewing the situation to determine whether adjustments to operations are necessary. Non-Operations: Another big month for property transactions with 22 transfers being recorded. The six month total is now 100, an average of 16.7 per month compared to the 14.1 monthly average of 2012. Interest income also continues slightly ahead of last year's monthly average. HOA: Expenses were $31,185 over budget for the month. Big ticket items include $4,800 for the Breckenridge drainage project (lawsuit in final signature process); $9,200 to clean up the foreclosed home the Association now owns; maintenance expense over budget by $20,800 with the largest item being $10,500 to repair pumps at the main gate By John Clark, Master Board Treasurer water feature. The Greenbelt allocation (the transfer between the HOA and Golf operations which does not impact the bottom line) was over budget in June by $21,400. Offsetting some of this expense were advertising expense at $5,200 under budget; landscape (tree maintenance and extras), under budget by $16,100. Golf Operations: The operation missed its budget for the month by $53,107 (Income shortfall of $19,994 and Expenses over budget by $33,113). Irrigation water and power were over budget by $41,000 in June (and by $55,200 in May). The HOA has tracked the expense for years and, interestingly, a pattern seems to be developing whereby greater water usage is occurring earlier in the year. In total, the operation is over budget for the six months by $186,200. The major components of this are water at $60,800; equipment repairs at $22,300; chemicals and pesticides at $17,400; greenbelt allocation at $42,000. Food & Beverage: The Operation ended $7,857 better than planned for the month of June and now has a $32,890 positive variance for the six months. Revenue is up $24,000 (three percent) and, despite higher volume, expenses for the six months are less than budget by $8,890. Food costs continue to run lower than expected. Funds: The total of the funds decreased by $517,717 in June due to a very busy maintenance and repair schedule: Bridge repairs on the Executive golf course was $20,900; Golf course equipment replacement, $25,500; Mail boxes were $20,000; Patio furniture, $22,200; repairs to waterfall valves, $32,100; Street refurbishment, $266,400; Sandwedge renovation, $30,900. Capital Improvement expenditures included $29,800 for lighting and ceiling fans on the clubhouse veranda. Delinquencies: As of the end of June, there are 157 homeowners (up 22) more than 30 days delinquent on their accounts owing $135,809 (down $7,581). Of these, 142 (up 66) owing $133,651 (up $25,845) are more than 120 days delinquent. Finally a toast to our neighbors and friends: May your troubles be less, may your blessings be more, and may nothing but happiness come through your door. Enuf: Comments, etc., to jdclark@dc.rr. com community news | sun lakes lifestyles | august 2013 | 5

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