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CommunIty news | sun lakes lIfestyles | July 2015 | 7 From the Treasurer By John Clark, Master Board Treasurer Note 1: The article is shorter than usual as it was written while traveling with my family (less than optimum conditions and, if there are errors, they will be identified and corrected in next month's article). Note 2: Income and expense from the Bingo operation is excluded from the following commentary. Refer to the note at end of the article for additional information. May has turned out to be a very positive month as expenses for the month came in significantly less ($161,771) less than projected. Income was slightly behind but the net effect of the two was an addition to surplus of $157,595 (as compared to the plan for the five months). Major expense savings for the month were salaries and related expenses (down $31,754); maintenance expense associated with the common areas (down $12,162); golf course irrigation water and power (down $60,145); and golf course supplies of seed, fertilizer, etc. (down $16,211). An additional 'savings' of $17,000 is due to delays in billing several incurred expenses to the Association. Only two residences closed escrow during the month bringing the total for the year to 43 versus the five month plan of 65. Golf operations had an excellent month with income higher (slightly) than plan and expense significantly less than plan (by $70,843) primarily due to less irrigation water and power. For the five months, irrigation water and power expense is now $15,762 less than plan. Food and Beverage operations also had an excellent month with revenue greater and expense less than anticipated. The cost of food continues in excess of what is included in the plan. The total of the Association's Maintenance and Repair reserves, Capital Improvement fund and the Homeowner Equity increased during the month by $165,467 as there was relatively little activity, and the Association's recording of a large surplus for the month. Bingo: The HOA is obligated to maintain the accounting for the Bingo operation on its books. However, the Association is not allowed to use any of the income nor is it responsible for any expenses incurred. For accounting purposes, adding Bingo back would add $5,882 to the surplus. Cheers! Nine & Dine Golf Scramble on Championship Course Fun Formats Dinner immediately following Dinner $12 • Prize Money $3 • Golf $20* (*Annual members do not pay for golf ) GAME DAtES & DinnER MEnu July 15, 5 pm: Hamburgers, potato salad, cookies Aug. 12, 5 pm: Nacho bar, cookies Sept. 23, 4:30 pm: Pulled pork, slaw, cookies Oct. 21, 4 pm: Pizza, salad, brownies