| SUN LAKES LIFESTYLES | OCTOBER 2024 | 7
TREASURER'S REPORT: JULY 2024 FINANCIAL STATEMENTS
The Association had a net loss (expenses exceeded income) in
July of $276,152 and a year-to-date loss of $171,298 (see table below).
This compares to a net surplus through the end of July 2023 of
$232,031 or an increase in losses of $403,329.
At the end of July, the balance in the Operating Fund checking
account was $387,996. On that same date, the Association had
outstanding bills of $1,471,442. If accounts receivable (primarily
amounts due from members house accounts) and cash are
combined, outstanding bills exceed cash and accounts receivable
by $172,044 (see the graphic below). Outstanding bills at the end
of July included $827,498 owed to FirstService Residential, most of
which is unpaid reimbursement for payroll.
The Restaurant & Lounge had a loss in July of $74,985 which
is $43,810 greater than the July budgeted loss. Year-to-date, the
Restaurant & Lounge has exceeded its budget by $257,216. Golf
operations also exceeded its budgeted loss in July by $64,624. Year-
to-date Golf operations is doing better than budget by $122,247 (see
the table below).
Please email me with any questions gary.burkel@sunlakescc.
com. ~ Gary Burkel, SLCC Treasurer, CPA-Retired
