4 | SUN LAKES LIFESTYLES | AUGUST 2025 |
TREASURER'S REPORT: FINANCIAL STATEMENTS
e Association had a net loss (expenses exceeded income) in
May of $19,962 and a year-to-date (YTD) net surplus of $368,379.
e $368,379 YTD surplus exceeds the budgeted surplus by
$182,144 (see table below).
At the end of May, the balance in the Operating Fund checking
account was $985,991. On that same date the Association had
outstanding bills of $1,544,004. If accounts receivable and cash
are combined outstanding bills exceeded cash and receivables by
$255,594 (see the graphic below). Outstanding bills at the end of
April included $589,539 owed to FirstService Residential, most of
which is unpaid reimbursement for payroll.
On April 1, Morrison Management (a division of CCL
Hospitality Group, CCL) assumed control of all Food & Beverage
operations. e following is a summary of Food & Beverage
results of operations for May:
Please email me with any questions at gary.burkel@sunlakescc.
com. ~ Gary Burkel, SLCC Treasurer, CPA-Retired
*THE OPERATING FUND IS USED TO MANAGE DAILY OPERATIONS OF THE HOA.
