4 | SUN LAKES LIFESTYLES | NOVEMBER 2025 |
TREASURER'S REPORT: AUGUST 2025 FINANCIAL STATEMENTS
e Association had a net loss (expenses exceeded income) in
August of $106,447 and a year-to-date (YTD) net surplus of
$99,374. e $99,374 YTD surplus exceeds the budgeted loss
by $251,187 (see table below).
At the end of August, the Association had cash of $2,900,634
in the Operating Fund. On that same date, the Association had
outstanding bills of $2,251,864. If cash and accounts receivable
are combined cash and receivables exceeded outstanding bills
by $774,196 (see the graphic below). Outstanding bills at the end
of August included $639,659 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 August, the Association had
cash of $12,701,734 in the Reserve Fund and $1,122,884 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 August:
Food & Beverage has a year-to-date loss of $787,179 which is
$356,485 over budget.
Please email me with any questions gary.burkel@sunlakescc.
com. ~ Gary Burkel, SLCC Treasurer, CPA-Retired