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| SUN LAKES LIFESTYLES | JUNE 2016 | 7 From the Treasurer By Dan Comerford, Master Board Treasurer As one can see, the report format is staying pretty consistent – each month the balance sheet information will be updated, and will present a six-month rolling window of that information – there have been no negative comments or complaints about the information presented so far, so I will keep this format for now. My intent is to continue to provide more visibility into the HOA financial situation, with emphasis on transparency into what is going on in each operation center (HOA, Golf, F&B). The overall operational surplus grew again this month – however, as the dryer weather comes, higher expenses in the areas of golf and grounds irrigation will undoubtedly absorb some of this surplus. Golf revenue continues to be down due to less play. The number of "annual" golfers expected to sign up was lower than anticipated. Guests and individual play continues to be less than anticipated. Expenses are down primarily to timing of fertilizers, etc. Water costs are lower than expected for this time of year. Water weather should see the surplus reduced due to higher water usage. The F&B operation had a good month for revenue, due to more diners using the restaurant. Revenue for the F&B area is up somewhat due to increased prices in the restaurant. Expenses are down, partly due to vacancies for a dishwasher and a line cook – two key roles in the kitchen – a server vacancy exists as well. These cost reductions will continue until staffing changes. The Audit adjustments are being/have been entered into the books of account – as part of our continuing effort to minimize future audit adjustments (the 2014 adjustments should have totaled, the 2015 adjustments included the 2014 adjustments as well as another $100K – the total difference between the HOA balance sheet and the auditor's balance sheet equaled approximately $880,000. Please direct comments and/or questions to me via mainder01@ gmail.com.

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