Issue link: https://imageup.uberflip.com/i/79695
from the treasurer SUMMARY: The second half of the year started on a positive note but not by much. The plan for July assumed Expenses would exceed Income by $50,041 (expenses can exceed Income in hot months due to higher irrigation and electricity costs). The actual excess was less ($48,300) meaning $1,741 was added to the bottom line. The Association is now $154,117 better than planned. NON-OPERATIONS: Twenty-four property transfers were recorded bringing the total for the seven months to 101. This compares to a year ago when a total of 64 transfers had been recorded. There weren't any transfers recorded in July last year which accounts in part for the large differential. Interest Income is now $5,435 ($775 per month) less than a year ago at this time as maturing, higher yielding investments are replaced with lower yielding investments. This is despite the fact the Association has more money invested now than at any time before. HOA: There is little to say about this month. There were the usual over and under budget situations in the various accounts but nothing significant enough to warrant commenting. Every month should be like that. GOLF: Income is running approximately 9.5 percent less than planned. Daily green fees By John Clark, Master Board Treasurer (as opposed to annual memberships) paid by homeowners and guests have shown the most significant decrease and account for over 70 percent of the shortfall. The Board will be reviewing this as part of the current 2013 budget discussions. RESTAURANT & LOUNGE: Another big month with revenue exceeding the plan by $20,654 or 17 percent. The operation is now $129,360 better than the plan for the first seven months. Bar and Restaurant patrons who enjoy wine, beer or hard liquor contributed more than $20,000 of the $129,000. Since this revenue generates a 'profit', it helps to offset some restaurant costs. Meanwhile expenses, for the year, are over budget by $80,649, the bulk of which is due to the additional labor and supplies necessary to support the increased revenue. OPS CONTINGENCY FUNDS: July was another month with relatively little activity for either Capital Improvement or Maintenance Reserves. Next month will have the costs associated with the street refurbishment program going on in Districts 16, 17, 18. Finally, an ad from an English newspaper: FREE PUPPIES - 1/2 Cocker Spaniel, 1/2 sneaky neighbor's dog. Enuf: Comments, etc., to clarkjd@dc.rr.com. 4 | september 2012 | community news