4 | SUN LAKES LIFESTYLES | DECEMBER 2025 |
TREASURER'S REPORT: SEPTEMBER 2025 FINANCIAL STATEMENTS
e Association had a net loss (expenses exceeded income)
in September of $145,341 and a year-to-date (YTD) net loss of
$45,964 (see table below).
At the end of September, the Association had a cash balance
of $2,741,605 in the Operating Fund. On that same date
the Association had outstanding bills of $2,413,337. If cash
and accounts receivable are combined cash and receivables
exceeded outstanding bills by $489,567 (see the graphic below).
Outstanding bills at the end of September included $669,992
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 September, the Association had
cash of $12,984,624 in the Replacement Fund and $1,052,202 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 September:
Food & Beverage has a year-to-date loss of $959,542 which is
$459,838 over budget.
Please email me with any questions gary.burkel@sunlakescc.
com. ~ Gary Burkel, SLCC Treasurer, CPA-Retired
