4 | SUN LAKES LIFESTYLES | MAY 2025 |
TREASURER'S REPORT: JANUARY 2025 FINANCIAL STATEMENTS
The Association had a net surplus (income exceeded expenses) in
February of $87,601 and a year-to-date net surplus of $229,551 (see
table below).
At the end of February, the balance in the Operating Fund
checking account was $831,117. On that same date the Association
had outstanding bills of $1,396,897. If accounts receivable and
cash are combined outstanding bills exceed cash and receivables
by $77,488 (see the graphic below). Outstanding bills at the end of
February included $894,037 owed to FirstService Residential, most
of which is unpaid reimbursement for payroll.
The Restaurant and Lounge had a loss in February of $53,232
which is $4,055 worse than the February budgeted loss. The golf
course operations had a loss in February of $102,959 which was
worse than budget by $8,015.
On March 28, the Master Board signed a five-year contract with
Spectrum. The contract lowers the monthly service fee to $58.50
per household, increases the upload and download speed and best
of all provides a one-time "door fee" (incentive fee) of $1,663,500.
Please email me with any questions gary.burkel@sunlakescc.
com. ~ Gary Burkel, SLCC Treasurer, CPA-Retired
