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COMMUNITY NEWS | SUN LAKES LIFESTYLES | FEBRUARY 2015 | 5 From the Treasurer By John Clark, Master Board Treasurer Operations Summary: Our Association finished the year with a positive variance to the plan of $66,577. This equates to approximately ½ percent of the Association's total revenue (approximately $12.7 million) for the year. That is really close planning. As a reminder, the Association, as a non- profit corporation, prepares its plan each year with income equaling expense i.e. zero variance. December ended with income exceeding expenses by $108,347 (the plan anticipated an excess of only $43,877). Note: All numbers are unaudited with final numbers from the audit available in April. Non-Operations: A total of 18 homes closed escrow during the month bringing the total for the year to 173 or an average of 14.4 resales per month — right on plan. Last year a total of 206 changed hands. The difference represents an income reduction of $31,350 year to year. Interest income from Association investments ended the year at $152,269 or $2,869 better than planned. Salary and related expenses ended the year $88,684 (2.6 percent) less than planned. Salaries were 1.6 percent less than the salary plan while the related expenses (benefits, taxes, workers comp, etc.) were 6.7 percent less than the plan for those items. The Golf operation finished the year with a very positive month. Income recorded was over plan by $15,165 (increase in daily green fees and the impact of the methodology used in recording annual dues income over the year). Expenses were less than planned by $29,789 with irrigation water and power accounting for $28,329 of that total. For the year, irrigation water and power were $35,673 over plan. You may recall that the irrigation water and power expense for January 2014 was over plan by $35,465. The operation, in total for the year, ended up with a negative variance of $13,568. Food and Beverage operation missed its revenue target for the month by $9,523. However, revenue for the entire year ($1,672,363) was positive to plan by $24,716 or 3.2 percent. Expenses for the year were $72,188 over plan, a portion of which was due to the increased revenue. The total operation, for the year, had a negative variance to plan of $47,472. Funds: The total of all funds increased by $224,560 from November. Home Owner Equity increased by $310,476 with primary reasons being the reduction of the allowance for uncollected accounts, due to better than expected experience, and the incorporation of adjustments from the 2013 audit report. Home Owner Equity represents the amount the homeowners own of the Association's property excluding community owned property (golf courses, buildings, etc.). This distinction will be explained in detail in a future Lifestyles article. The Total Funds balance decreased by $485,224 from Dec. 31, 2013 due to the heavy Capital Improvement and Reserve/Maintenance activity in 2014. Delinquencies: As of Dec. 31, total delinquencies amount to $97,249, a decrease of $295 month to month. Total delinquent properties total 38, or 1.14 percent of 3,327 properties (as compared to 30 last month or 0.90 percent). Finally, (with my apologies): Evidence has been discovered that William Tell (he shot the apple off his son's head) and his family (like many Sun Lakers) were avid bowlers. Unfortunately, all the Swiss League records were destroyed in a fire and so we'll never know for whom the Tells bowled. Enuf: Comments, etc., to jdclark@dc.rr.com

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