Treasurer’s Report
Ladies and Gentlemen, I would like to take a few minutes and go over the year-to- date financial numbers for the Association. Our financial statements for the month of March are not as yet complete, as we are waiting one more bank statement, so the figures presented will be February year-to-date.
As you know the association has three different funds: Operations, Capital and Reserve. I will report February year-to-date for each fund.
OPERATIONS YTD Revenue is $3,488,172 against a budget of $3,777,174, giving us a variance of -$289,002. The primary shortfalls were in Resort Services at -$105,551, Lifestyle at -$93,783 and Bar at -$74,241. All of these were due to the reduced services and attendance due to Covid-19. YTD Expenses are $3,520,139 against a budget of $3,712,095, giving us a variance of -$191,956. The savings can be contributed to staff and service cutbacks to accommodate the reduced attendance.
YTD we are showing a Net Income Loss of $31,027 against a budgeted gain of $65,079 resulting in a variance of -$97,046
CAPITAL The planned Capital expenditures for this year is $80,000, with an additional $40,000 approved for the Strategic Plan and CVWD property acquisition totaling $120,000.
Capital Projects Completed Tennis Center McMahon Strategic Plan Court Area landscape freshening
$ 37,000 $ 36,000 $ 12,900 $ 85,900
TOTAL
Yet to be completed is Gate House/Welcome Center refurbishing, including a service window to serve Owners and guests more professionally.
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