4 | SUN LAKES LIFESTYLES | OCTOBER 2025 |
TREASURER'S REPORT: JULY 2025 FINANCIAL STATEMENTS
e Association had a net loss (expenses exceeded income) in
July of $196,426 and a year-to-date (YTD) net surplus of $205,823.
e $205,823 YTD surplus exceeds the budgeted surplus by
$245,012 (see table below).
At the end of July, the Association had cash of $2,764,137 in
the Operating Fund. On that same date the Association had
outstanding bills of $1,867,239. If cash and accounts receivable
are combined cash and receivables exceeded outstanding bills by
$1,069,336 (see the graphic below). Outstanding bills at the end
of July included $518,503 owed to FirstService Residential, most
of which is unpaid reimbursement for payroll.
In addition to the Operating Fund, the Association has two
restricted funds, the Repair & Replacement Fund and the Capital
Improvement Fund. At the end of July, the Association had cash
of $12,605,106 in the Reserve Fund and $1,127,556 in the Capital
fund.
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 July:
Please email me with any questions gary.burkel@sunlakescc.
com. ~ Gary Burkel, SLCC Treasurer, CPA-Retired
*THE OPERATING FUND IS USED TO MANAGE DAILY OPERATIONS OF THE HOA.
