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| SUN LAKES LIFESTYLES | MARCH 2024 | 7 The Association had a surplus (Income exceeded expenses) in December of $52,627 and a year-to-date surplus of $266,204. The Association has done better than budget in all departments except the Restaurant and Lounge (see table below). Through December the Restaurant and Lounge has lost $879,493 which is $374,678 in excess of its 2023 budgeted loss. At the end of December, the balance in the Operating Fund checking account was $378,422. On that same date, the Association had outstanding bills of $1,140,013. If accounts receivable (primarily amounts due from members house accounts) and cash are combined outstanding bills exceed cash and receivables by $246,134 (see the graphic below). The table below reports the surplus of the Operating Fund. The summary of the December Income Statement, in the budget variance column, reports the amount of budget variance for each department. For example, land maintenance is under budget for the year by $111,667. This means the cost for the year was less than what was budgeted. Land maintenance is made up primarily of and allocation of golf course common area costs and the Associations landscape contractor costs. The Golf Operations has also done better than budget for the year by $474,950. The golf operation includes annual and daily golf fees, the golf shop sales, and related costs. The Master Board election is underway. A meet-the-candidate forum will be held on Wed., March 6 at 4 pm in the Main Clubhouse Ballroom. Ballots will be mailed on March 8. More detailed financial statements are available on the SLCC website. You can also email me with any questions at gary.burkel@ sunlakescc.com. ~ Gary Burkel, SLCC Treasurer, CPA-Retired TREASURER'S REPORT: DEC. 2023 FINANCIAL STATEMENTS * THE OPERATING FUND IS USED TO MANAGE DAILY OPERATIONS OF THE HOA. IT DOES NOT INCLUDE RESTRICTED CASH HELD IN THE RESERVE & REPLACEMENT FUND OR THE CAPITAL FUND. SUMMARY OF DECEMBER 2023 INCOME STATEMENT BY DEPARTMENT

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