| SUN LAKES LIFESTYLES | MAY 2024 | 7
The Association had a loss (expenses exceeded income) in
February of $38,610. The Association has a net surplus year-to-date
of $7,968.
The Restaurant & Lounge had a loss in February of $86,195 which
is $46,371 in excess of the February budgeted loss (see table below).
Year-to-date, the Restaurant & Lounge has exceeded its budgeted loss
by $103,724.
At the end of February, the balance in the Operating Fund
checking account was $70,305. On that same date the Association
had outstanding bills of $619,460. If accounts receivable (primarily
amounts due from members house accounts) and cash are combined
cash and receivables exceed outstanding bills by $299,583 (see the
graphic below). Outstanding bills at the end of February included
$424,885 owed to FirstService Residential.
The table below reports the loss in the Operating Fund in February
of $38,610. The summary of the February Income Statement, in the
budget variance column, reports the amount of budget variance for
each department. Through the end of February, the Association has
lost $113,933 in excess budget.
Due to employee turnover in accounting administration, some
amounts in the February financial reports were estimated.
Please email me with any questions: gary.burkel@sunlakescc.com.
~ Gary Burkel, SLCC Treasurer, CPA-Retired
TREASURER'S REPORT: FEB. 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 FEBRUARY 2024 INCOME STATEMENT BY DEPARTMENT
