| SUN LAKES LIFESTYLES | DECEMBER 2023 | 7
The Association had a loss (expenses exceeded revenue) in
September of $7,977 and a year-to-date surplus of $132,552. The
Association has done better than budget in all departments except
Restaurant and Lounge (see table below).
At the end of September, the balance in the Operating Fund
checking account was $373,477. On that same date the Association
had outstanding bills of $966,551. If accounts receivable (primarily
amounts due from members house accounts) and cash are combined
outstanding bills exceed cash and receivables by $145,172 (see the
graphic below).
On Oct. 25, the Master Board (MB) approved the 2024 budget.
The budget process included input from Management, the Finance
Advisory Committee, and the MB. After several revisions the MB
agreed on a 2024 monthly assessment of $365, a $19 per month
increase.
Operating expenses include departmental expenses from
administration, compliance, recreation, as well as common area
maintenance, landscaping, property protection, cable/internet, and
utilities. It also includes annual amenity budgeted costs for the
Restaurant and Lounge of $413,101 and $1,514,368 for the operation
of the Golf Course. ~ Gary Burkel, SLCC Treasurer, CPA-Retired
TREASURER'S REPORT
* THE OPERATING FUND IS USED TO MANAGE DAILY OPERATIONS OF THE HOA. IT DOES NOT INCLUDE CASH IN RESTRICTED
FUNDS. THIS IS A BASIC TEST THAT MEASURES THE SUFFICIENCY OF THE CASH POSITION OF THE ORGANIZATION.
SUN LAKES COUNTRY CLUB HOA OPERATING FUND CASH*
Available cash (blue) compared to outstanding bills (red)
SUMMARY OF SEPTEMBER 2023 INCOME STATEMENT BY DEPARTMENT
