4 | SUN LAKES LIFESTYLES | JUNE 2025 |
TREASURER'S REPORT: FINANCIAL STATEMENTS
e Association had a net surplus (income exceeded
expenses) in March of $233,090 and a year-to-date (YTD) net
surplus of $462,641. e $462,641 YTD surplus exceeds the
budgeted surplus by $266,906 (see table below).
At the end of March, the balance in the Operating Fund
checking account was $1,031,664. On that same date the
Association had outstanding bills of $1,411,312. If accounts
receivable and cash are combined cash and receivables
exceeded outstanding bills by $119,515 (see the graphic below).
Outstanding bills at the end of March included $681,899
owed to FirstService Residential, most of which is unpaid
reimbursement for payroll.
e year-to-date surplus through the end of March of
$462,641 exceeds the surplus through March of last year by
$300,179. Which means we are o to a very good start through
the end of the rst quarter. e YTD surplus has contributed to
an increase in cash in our Operating Fund and an improvement
in our cash compared to outstanding bills.
On March 28, 2025 the Master Board signed a ve-year
contract with Spectrum. e contract lowers the monthly
service fee to $58.50 per household, increases the upload and
download speeds and best of all, provides a one time "door
fee" (incentive fee) of $1,663,500. Terms of the contract will
become eective on or about the end of May.
Please email me with any questions gary.burkel@sunlakescc.
com. ~ Gary Burkel, SLCC Treasurer, CPA-Retired
