| SUN LAKES LIFESTYLES | NOVEMBER 2024 | 7
TREASURER'S REPORT: AUGUST 2024 FINANCIAL STATEMENTS
The Association had a net loss (expenses exceeded income) in
August of $322,377 and a year-to-date loss of $493,678 (see table
below). This compares to a net surplus through the end of August
2023 of $140,530 or an increase in losses of $634,208.
At the end of August, the balance in the Operating Fund checking
account was $365,125. On that same date, the Association had
outstanding bills of $1,578,276. If accounts receivable (primarily
amounts due from members house accounts) and cash are
combined outstanding bills exceed cash and accounts receivable by
$385,143 (see the graphic below). Outstanding bills at the end of
August included $1,007,160 owed to FirstService Residential, most
of which is unpaid reimbursement for payroll.
The Restaurant & Lounge had a loss in August of $48,733 which
is $12,902 greater than the August budgeted loss. Year-to-date the
Restaurant & Lounge has exceeded its budget by $270,118. Golf
operations also exceeded its budgeted loss in August by $68,016.
Year-to-date golf operations is doing better than budget by $54,231
(see the table below).
Please email me with any questions gary.burkel@sunlakescc.
com. ~ Gary Burkel, SLCC Treasurer, CPA-Retired
