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from the treasurer Operations Summary: November was another positive month for the Association. The month was positive to plan by $8,061 and the negative year to date variance is now down to $10,927. There is a good chance the Association will end the year on the positive side albeit by a small margin. Labor expense was higher in all areas due to the fact the month had five pay periods however, is on target for the year. As a reminder, the plan for the year is zero (or better) variance by year end. Non-Operations: Property transfers totaled 13 in November bringing the total for the eleven months to 186, an average of almost 17 per month. HOA: The homeowner delinquency situation is improving. There are 35 delinquent properties or 1.05 percent of the total number of properties. Bad Debt expense is now $65,000 under budget as a decision was made to not record any expense in November for projected delinquencies. Printing was a major item in November with the printing of the annual budget reports ($7,100 over budget). Greenbelt allocation expense (expense incurred by the golf operation for work on common areas and charged to HOA) was $10,200 under budget due to reduced activity. Golf Operations: This is the fourth consecutive month the operation has had a positive variance (this month, $11,690). Income continues at less than forecast but expenses came in under budget for salaries and related expense (despite the five pay period month), also Irrigation Water and Power By John Clark, Master Board Treasurer were under by $19,900. Food and Beverage: It was a good news/bad news month for the operation. Revenue was 10 percent better than November 2012 but a combination of revenue less than forecast (by $9,749) and expenses more than forecast (by $14,575) resulted in the operation ending up with a negative variance to budget of $24,324 for the month. Major expenses were cost of food at 49.8 percent of revenue (budgeted at 46 percent) and labor which came in at 72.6 percent of revenue versus a budgeted 70.0 percent. At least a portion of the excess food costs are related to bringing in supplies for December's special activities. A review of November operations was on-going at the time of this writing. Despite November's problems, the operation is still better than budget for the year by $18,454. Funds: Total funds increased by $122,857 for the month. Reserve expenditures amounted to $27,150 with the Sandwedge renovation accounting for $24,215. There were no Capital Improvement expenditures. Homeowner delinquencies: As of 11/30: Reminders-1 ($487); Pre-Lien-4 ($3,533); Lien-22 ($62,646); Collections-8 ($51,701). Combined delinquencies now total $118,368. Finally, a toast for the New Year: Here's wishing you more happiness than all my words can tell, not just alone for New Year's Eve but for all the year as well. Enuf: Comments, etc., to jdclark@dc.rr.com Community news | sun lakes lifestyles | January 2014 | 5

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