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OperatiOns suMMary: Year to date revenue continues to exceed expense, now by $229,660. Compared to plan however, June expense exceeded revenue by a larger margin ($32,965) than planned. As a result, the year to date positive variance to plan, which has been accumulated in earlier months of this year, has been reduced to $103,901. nOn-OperatiOns: The accelerated pace of property transfers, starting several months ago, seems to be continuing with 19 homes closing escrow during the month. A total of 78 property transfers have now been completed for the six months, or an average of 13 per month. This compares with a monthly average for all of last year of 17.2 per month. Interest Income, at $73,367 is $1,333 short of what was planned. Finally, the Association continues to receive $1,575 per month rental from the one home the Association owns. The following are significant items from June financial operations: Revenue from golf course annual dues booked in June was $25,000 less than allotted for June. This is essentially an accounting issue and, earlier in this year, accounted for some of the positive variance to plan the Association is currently showing. Daily green fees revenue from homeowners was $11,300 less than planned and is now $34,500 (21 percent) short of plan for the six months. Planned Irrigation expense for June for all areas ($175,300) was $ $39,000 higher than that planned for May. The June plan was still exceeded by approximately $5,500. Expense for Landscape Extras was $10,000 over plan for the month. This was an unplanned expense to repair frost damage to plantings along the sixth fairway. Community Patrol expense exceeded plan by $9,300 due to the final billing for extra patrolling of the administrative billing required several months ago. Salary and Related expenses were less than the plan for the month by $27,750. As in earlier months, this is primarily due to unfilled salary positions. Hiring for two of those positions has recently been completed. The Association continues to recruit for the other open positions. Despite rising food costs, the Food and Beverage operation has managed to keep the cost of food (as a percent of revenue) less than planned (43.8 percent versus 44.0 percent) for the six months. funds: The total of all funds (Capital Improvement, Maintenance Reserves and HO Equity) decreased by $603,682 for the month. Three major Reserve items (all budgeted) accounted for the bulk of the reduction: $184,100 for the completion of the new golf course pumping station; $156,400 for the initial costs of the new gate access/security system (required because improvements in technology resulted in the manufacturer no longer supporting the current system); $339,000 for this year's pavement refurbishment program (the last of a five year program). delinquencies: Total delinquent properties declined from last month's 41 to a total of 34 (1.02 percent of the total number of properties). Total delinquent assessments declined by $6,526 to a total of $123,299. Finally, one more blond man joke: A blond man shouts frantically into the phone "My wife is pregnant and her contractions are only two minutes apart!" "Is this her first child?" asks the doctor. "No," he shouts, "this is her husband!" Enuf: Comments, etc., to jdclark@dc.rr.com CommunIty news | sun lakes lIfestyles | auGust 2014 | 5 From The Treasurer By John Clark, Master Board Treasurer

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