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from the treasurer Operations Summary: First, I would like to thank General Manager, Jeremy Wilson, for stepping in last month when the combination of my being in Northern California and the late arrival of the financial numbers prevented me from completing my report. October was a good month for the Association. Income exceeded expense by $7,525 when the plan had anticipated expenses exceeding income by $55,387. The net result was positive variance to plan of $62,912 for the month. This reduced September's negative variance of $81,612 to a negative $18,700 at the end of October. Non-Operations: Property transfers totaled 40 in October; the largest number in memory, and now total 183 for the ten months. This compares to 170 for all of 2012. HOA: The Breckenridge drainage lawsuit has been settled and work is underway. There is a possibility that, at the conclusion of the work, there will funds left over. Any excess will be used to offset expenses incurred pursuing the lawsuit. Barring any unforeseen issues this should be resolved prior to year end. Golf Operations: The operation had a positive variance of $45,307 to budget in October; the third consecutive month of positive variances. The plan anticipated a major purchase of fertilizer ($30,000) which did not occur. A decision was made, after the budget was approved, to go to a 'fertigation' system whereby liquid fertilizer is applied through the irrigation system. Expenses for chemicals are now incurred incrementally. The budget for chemicals is currently $11,500 over. Irrigation water and power were $7,800 under budget but are still over $75,700 YTD. Food & Beverage: Revenue was up 6.4 percent ($8,251) for the month with the Lounge contributing $3,600 of this amount. Revenue for the year is up 4.1 percent. Expenses were also up due to labor costs to support the increased volume of business, bulk purchases of supplies, repairs in the kitchen and By John Clark, Master Board Treasurer higher food costs. The result was a negative variance to budget for the month of $3,787. The operation is still ahead for the ten months by $42,777. Funds: Total funds increased by $97,079 for the month. The largest expenditure was $48,587 on the Sandwedge renovation. Homeowner delinquencies: Beginning this month, routine reminders have been eliminated from the count. As of Oct. 31: Reminders-2 ($1,122); Pre-Lien-6 ($5,157); Lien-21 ($49,673); Attorney-10 ($56,994). Totals are 39 (1.17 percent of population) and $112,946 (1.6 percent of annual dues). Miscellaneous: Two changes to the table. Rental income (Wailea property) included with "Resales/Interest;" A new line item 'Summary comparison to Budget' has been added. Finally: Wife to husband: "Do you want dinner?" Husband: "Sure! What are my choices?" Wife: "Yes or no." Enuf: Comments, etc., to jdclark@ dc.rr.com community news | sun lakes lifestyles | december 2013 | 5

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