4 | SUN LAKES LIFESTYLES | SEPTEMBER 2025 |
TREASURER'S REPORT: JUNE 2025 FINANCIAL STATEMENTS
e Association had a net loss (expenses exceeded income) in
June of $12,075 and a year-to-date (YTD) net surplus of $402,248.
e $402,248 YTD surplus exceeds the budgeted surplus by
$334,388 (see table below).
At the end of June, the Association had cash of $2,258,898
in the Operating Fund. On that same date the Association had
outstanding bills of $1,559,168. If cash and accounts receivable
are combined cash and receivables exceeded outstanding bills by
$1,180,872 (see the graphic below). Outstanding bills at the end of
June included $493,658 owed to FirstService Residential, most of
which is unpaid reimbursement for payroll.
On March of this year, the Association renewed a contract with
Spectrum for cable and internet services. In connection with the
execution of the contract Spectrum agreed to pay the Association
an incentive fee of $1,663,500, which was received in June.
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 June:
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.
