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CommunIty news | sun lakes lIfestyles | auGust 2015 | 7 From the Treasurer By John Clark, Master Board Treasurer OPERATIONS Summary: The plan had projected June expense would exceed income by $54,276. Expense was actually $13,699 more than projected resulting in a reduction of the Association's year to date surplus to $170,440. NON-OPERATIONS Summary: To say the pace of housing closing escrow in June accelerated would be an understatement. Forty-six homes closed in June suggesting somewhere along the line a backlog was cleared up. Year to date closings now total 89 versus a projected 78. INCOME: Total revenue was up by $19,879 for the month, primarily due to the number of homes closing escrow. Interest income is lagging because a portion of the investment portfolio has been placed in money market funds in anticipation of a federal interest rate increase later this year. Golf revenue continues below expectations with the total number of rounds played on the two courses down by 5.6 percent from last year at this time. Both the Restaurant and Lounge had good months with Restaurant revenue exceeding June of last year. Total Food and Beverage revenue is approximately 2 percent ahead of what had been projected to this point. EXPENSE: Salary and benefits expense continue below projections but at a slower pace due to some of the positions being filled. June had a positive variance of $15,552 and year to date there is a positive variance of $122,803. Drought conditions continue but the Association's conservation efforts are taking hold. Golf course irrigation costs were $32,210 less than projected for the month and are now showing a positive variance year to date. Water for the common areas was $14,120 less than projected and now has a positive variance year to date of $12,332. A major purchase of chemicals and pesticides for the golf courses was made in June which resulted in June being $29,314 over plan in that account. The cost of food was 47.8 percent of revenue in June and is now 47.3 percent year to date compared to the plan's 44 percent. This negatively impacts the operation's performance by approximately $21,000. FUNDS: Total funds were reduced by $184,330 in the month. The primary reason was the purchase of five replacement vehicles (mowers, tractors, ball picker) for the golf courses at a cost of $142,514. The other large item was a vehicle for the recreation department (replacing two other vehicles) at a cost $11,000. DELINQUENCIES: Combined delinquencies now total $46,117.61 through June 30, 2015 (as compared to $72,301 reported last month). Total delinquent properties total 19, or 0.57 percent of 3,327 properties (as compared to 30 last month or 0.90 percent). Finally, a couple of definitions you probably were not aware of: ARBITRATOR: A cook that leaves Arby's to work at McDonald's; AVOIDABLE: What a bullfighter tries to do; RUBBERNECK: What you do to relax your wife. Enuf: Comments, etc., to jdclark@dc.rr.com.

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