from the treasurer
By John Clark, Master Board Treasurer
The Association had a good month in September. The financial plan anticipated expenses to exceed income by $62,187
(an end of summer month, irrigating, etc.). In actuality, income exceeded expenses by $93,424; resulting in a better
than budget month by $155,612. The end result is that the HOA is now short of plan by $78,762; a large improvement
from last month. The primary reason for the improvement is that the Association booked the foreclosed home as an
asset to the Balance Sheet and was removed (applicable entries) from the HOA Income Statement, producing a $114,167
positive variance. The primary reasons for this YTD variance is $58,442 of unbudgeted expenses for the Breckenridge
storm drain lawsuit (of which the HOA may recover partially). Eliminating this item would mean the HOA is currently
$20,319 behind the budgeted plan.
community news | sun lakes lifestyles | november 2013 | 5
