6 | SUN LAKES LIFESTYLES | JANUARY 2025 |
TREASURER'S REPORT: OCTOBER 2024 FINANCIAL STATEMENTS
The Association had a net gain (income exceeded expenses) in
October of $235,622 and a year-to-date loss of $427,378 (see table
below). This compares to a net surplus year-to-date October 2023
of $150,694 or increased losses of $578,072.
At the end of October, the balance in the Operating Fund
checking account was $386,400. On that same date, the Association
had outstanding bills of $1,401,189. When accounts receivable
(primarily amounts due from members' house accounts) and cash
are combined, outstanding bills exceed cash and accounts receivable
by $501,253 (see the graphic below). Outstanding bills at the end of
October included $747,645 owed to FirstService Residential, most of
which is reimbursement for payroll owed.
The Restaurants and Lounge had a loss in October of $86,640
which is $56,580 greater than the October budgeted loss. Year-
to-date the Restaurants & Lounge have exceeded budget by
$386,848. Golf operations realized a positive gain in October due
to maintenance of the golf course being under budget in October
by $140,175. Year-to-date golf operations are doing better than
budget by $147,933 (see the table below). Please email me with any
questions at gary.burkel@sunlakescc.com. ~ Gary Burkel, SLCC
Treasurer, CPA-Retired
