| SUN LAKES LIFESTYLES | DECEMBER 2017 | 9
Treasurer's Report
By John Clark
BOTTOM LINE: October revenue exceeded expenses by $102,923.
The plan for the month assumed the reverse, i.e. expenses exceeding
revenue (by $10,477).The surplus, that had been accumulated
through September, has been increased by the October variance of
$113,400. The year to date surplus is now $192,660.
NON-OPERATIONS: The number of home resales each month
has bounced back and forth all year and October was no different.
A total of 21 resales were recorded in October, well above what the
plan anticipated (15/month) and the average through September of
13.6/month.
REVENUE: Revenue, in total, was essentially on plan for the
month, as it has been for the 10 months with only a 0.4% (positive)
variance from the plan.
EXPENSE: October expense was $117,475 less than the plan. It
has been determined that several errors occurred in September
in accruing for expenses incurred in September but not recorded
by month end. The correction of the errors is responsible for the
$117,475 October under-run. At the end of the ten months, all three
cost centers (HOA, Golf and F & B) have positive variances to the
plan. Total expenses for the ten months are now 1.3% less than plan.
Two of the major cost factors, labor and irrigation water are under
budget for the 10 months by 4.6% and 3.4% respectively. A third
major cost factor, the cost of food for the restaurant operation, is over
plan 15.7%. The cost of food, as a percentage of revenue, has been
coming down over the year but is still well in excess of the budget.
The 2018 budget has been adjusted to reflect a more realistic target.
FUNDS: No significant change in October.
DELINQUENCIES: As of October 31st, 71 homeowners (2.1% of
all homeowners) are in arrears on their assessment account for a
total arrears of $83,217. Twenty-three of the 71 are 30 days or less.
There has not been any significant change since last reported in
August of this year.
FINALLY: A quote from Jim Carrey, "Behind every great man there
is a woman rolling her eyes '
Comments: jdclark@dc.rr.com.
