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Sun Lakes Lifestyles April 2024

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| SUN LAKES LIFESTYLES | APRIL 2024 | 7 The HOA had a surplus (income exceeded expenses) in January of $44,672. The HOA has done better than budget in most departments (see table below). At the end of January, the balance in the Operating Fund checking account was $790,395. On that date the HOA had outstanding bills of $952,342. If accounts receivable (primarily amounts due from members house accounts) and cash are combined, cash and receivables exceed outstanding bills by $318,873 (see the graphic below). Outstanding bills at the end of January included $675,342 owed to First Service Residential. The table below reports the surplus of the Operating Fund in January of $44,672. The summary of the January 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 January by $17,962. The Golf Operation is under budget by $39,299 in January. The Golf Operation includes annual and daily golf fees, the golf shop sales, and the related costs. The Restaurant & Lounge lost $104,831 in January which exceeds the budgeted loss by $57,354. The cash balance in the Repair & Replacement and Capital Improvement Fund at the end of January was: Repair & Replacement Fund - $12,257,954 Capital Improvement Fund - $1,788,114 The Repair & Replacement and the Capital Improvement Funds are restricted funds that are generally not available to pay operating fund liabilities. 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: JAN. 2024 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 JANUARY 2024 INCOME STATEMENT BY DEPARTMENT

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