SUN CITY SUMMERLIN COMMUNITY … Sky Meadow Ave SCSCAI Representatives Mountain Shadows...

SUN CITY SUMMERLIN COMMUNITY ASSOCIATION, INC. FINANCE COMMITTEE MEETING

DESERT VISTA COMMITTEE ROOM January 25, 2018 at 2:00 PM

AGENDA

I. Call to Order – Establish Quorum Dick Gluch

II. Introduction of Committee Members Dick Gluch

III. Approval of Agenda Dick Gluch

IV. Approval of Minutes from November 27, 2017 Finance Committee Meeting Dick Gluch

V. Financial Overview: Ralph Gallo/

A. December 2017 Financial Statements for Operating Fund Raylene Elmore

VI. Committee Reports A. Insurance Committee Jim Camburn B. Investment Committee Ken Resnik

VII. Other Matters Dick Gluch

VIII. Resident’s Comments Dick Gluch

IX. Chairman and Committee Members Comments Dick Gluch

X. Adjourn Dick Gluch

Next Meeting of the Finance Committee **********Thursday February 22, 2018 at 2:00 PM**********

DESERT VISTA COMMUNITY CENTER COMMITTEE ROOM

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The Association is in compliance with paragraph (b) of subsection 2 of NRS 116.3115 and reserve funds have not been used for daily maintenance.

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Rev. 01/23/18

2017-2018 SCSCAI Finance Committee

RICHARD GLUCH - Chairman – 03/15 – [email protected] 362-4841 10112 Bundella Dr.

MELISSA BLAKE - 11/16 - [email protected] (415) 342-5985 2801 Linkview Drive

JIM CAMBURN - 10/14 - [email protected] 838-8498 10913 Black Ledge Avenue

LEO CRAWFORD – 03/15 – [email protected] 478-8806 10824 Button Willow Drive

BARBARA HOLDEN - 08/16 - [email protected] (319) 310-5777 9656 Blue Bell Drive

LEE FAIR – 05/16 - [email protected] 256-3531 10817 Brinkwood Avenue SANDY KRAUSE - 1/14 - [email protected] 405-9902 8500 Desert Holly Drive

KEN RESNIK - 03/15 - [email protected] 366-0630 10000 Button Willow Drive

SHELDON ROSENBERG – 04/16 - [email protected] 258-1134 11016 Mission Lakes Ave

FRED WAGNER – 9/06 – [email protected] 243-4316

10820 Button Willow Drive KATHLEEN WAGNER – 9/06 - [email protected] 243-4316 10820 Button Willow Drive BILL WINCHESTER – 03/15 – [email protected] 240-9900 10716 Sky Meadow Ave

SCSCAI Representatives

Mountain Shadows Administrative Office 966-1401 Mitzi Mills – Executive Director – [email protected] 966-1409 Raylene Elmore - Controller – [email protected] 966-1405 Ralph Gallo – Accounting Manager – [email protected] 966-1404 Jill Myers - Recording Secretary - [email protected] 966-1403 2018 Meeting Schedule

January 25 May 24 September 27 February 22 June 28 October 25 March 22 July * November 15 April 26 August 23 December *

* No meeting scheduled in July and December 2018

Meetings will commence at 2:00 p.m. in the Desert Vista Committee Room

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mailto:[email protected]
















SUN CITY SUMMERLIN COMMUNITY ASSOCIATION DESERT VISTA COMMITTEE ROOM MEETING MINUTES

FINANCE COMMITTEE MEETING 2:00 P.M. – November 27, 2017

THIS MEETING IS BEING RECORDED

Present: Committee Members: Ken Resnik, Barbara Holden, Sandy Krause, Leo Crawford, Lee Fair, Sheldon Rosenberg, Fred Wagner, Bill Winchester Staff: Mitzi Mills – Executive Director, George Khalaf – Finance Director (via teleconference), Raylene Elmore - Controller, Jill Myers – Recording Secretary Absent: Committee Members: Kathleen Wagner, Melissa Blake, Richard Gluch, Jim Camburn Call to Order Ken Resnik called the meeting to order at 2:04pm and noted a quorum was present. Introduction of Committee Members Committee Members introduced themselves Approval of Agenda Fred Wagner made a motion to approve the agenda. Sandy Krause seconded. There were no objections. Approval of Minutes Fred Wagner made a motion to change the verbiage from meeting minutes to meeting notes for the October 26, 2017 meeting since a quorum was not present and to approve the minutes of the September 28, 2017 meeting. Sandy Krause seconded. There were no objections. Audit Review for the Year Ended June 30, 2017 Gary Lein of Hilburn & Lein, CPAs presented a draft of the FY2017 audit findings. Update of Tax Returns FY2017 Gary Lein gave a brief update on the FY2017 tax return and stated the Association will be receiving a refund pertaining to the fuel tax. Financial Overview Review of October 2017 Financials – George Khalaf provided an overview of the financial statements. SCSCAI closed October with a net loss of $62,322. This was below the budgeted gain of $62,846 by $125,168. Revenues for the month totaled $1,402,633 and they exceeded budget by $67,593 mainly due to a positive variance of $20,218 in golf revenues, $7,216 in food and beverage revenues and $40,159 in other revenues represented by realtors’ resale packages. For the month, expenses totaled $1,464,955 compared to budget of $1,272,914 which resulted in a negative variance of $192,761. This variance was driven by a negative variance in operating expenses of $135,469 (due to a timing difference associated with recording seeding expenses of $77,695 and recording an unbudgeted insurance deductible of $25,000), cost of goods sold of $13,065, payroll and related expenses of $34,517, utilities of $23,058 offset by positive variance in repairs and maintenance of $13,348. There was discussion regarding golf rounds and golf revenues and the Analysis of Golf Rounds reporting on the website. There was discussion regarding the golf marketing benefits. There was discussion regarding showing golf operations and golf course maintenance combined on the financial statements. There was discussion regarding shifting the focus of the Food & Beverage department to Tavern. Committee Reports Insurance Committee No report Investment Committee Ken Resnik gave a report from the November 6, 2017 meeting. Audit Committee Ken Resnik made a motion to reinstate the Audit Committee and to appoint Lee Fair as the chairman. Fred Wagner seconded. There were no objections.

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Other Matters Raylene Elmore provided and update on the insurance proceeds received for the embezzlement. There was a $25,000 deductible and a $5,000 bill for Hilburn & Lein CPAs. The net check received was $55,634.19 of which $52,440 of NORA funds will be transferred to the reserve funds account. Ken Resnik stated he felt a board resolution would be needed in order to transfer the funds. Mitzi Mills suggested that there be a board resolution to ratify the transfer. The committee agreed. Mitzi Mills gave and update on the Reserve Study. Bill Winchester has been assisting with the process. The RFP will be going out December 1, 2017 for bids to be opened at the January 2018 board meeting. There was discussion regarding the audit timeline. Hilburn & Lein, CPAs confirmed they have 210 days per Nevada State law to complete the audit which would allow time for the audit committee to review it prior to it being presented to the audit committee. Resident’s Comments Ellen Bachman inquired about when the results of the forensic audit can be expected. Raylene Elmore stated the field work has been completed but we did not have a time frame as to when to expect the report. Chairman and Members Comments Sandy Krause brought up a safety concern regarding putting up and taking down the flags along Del Webb Blvd. Mitzi Mills will address it with that department. Motion to Adjourn Sandy Krause made a motion to adjourn the meeting. Fred Wagner seconded. The meeting was adjourned at 3:55pm.

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INDEX FOR MONTHLY FINANCIALS December 31, 2017

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Controller Summary…………………………………………..………………. ............6-7

Posted Summary…………………………………………..………………. .................8

Balance Sheets

Operating Fund…………………………………………………………….. ........9-11 Fixed Assets……………………………………………………………………...12-13 Reserve……………………………………………………………………………14 Summary of Operations…………………………………. ........................................15-21 SPECIAL REPORTS

Delinquency Statistics………………………………………………………... ..........22 NORA Report……………………………………………………………………..…. .23

Sun City Summerlin Community Association, Inc. Operating Fund

Controller Summary December 31, 2017

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Summary

SCSCAI closed December with a net gain of $115,250. This exceeded the budgeted gain of $68,674 by $46,576. Revenues for the month totaled $1,276,422 and they exceeded budget by $73,696 mainly due to a positive variance of $56,276 in golf revenues. For the month, expenses totaled $1,161,172 compared to budget of $1,134,052 which resulted in a negative variance of $27,120. This variance was driven by a negative variance in cost of goods sold of $48,797 and utilities of $12,488. Year-to-date, the net loss of $313,398 is favorable to the budgeted loss by $471,892, driven by higher revenues of $288,008.

Financial Results by Business Segment Golf Pro Shops: Revenues for December totaled $258,828 compared to budget of $202,552. This favorable variance is the result of the marketing dollars spent last fiscal year to boost revenue. In December golf rounds were 6,049 and they exceeded budget by 1,114 rounds. Expenses for December totaled $139,876 compared to budget of $139,627. Food and Beverage: Overall and including Vista Grill, food and beverage net contribution was negative $31,930 for the month which exceeded the budgeted deficit by $10,604. Catering events continue to be strong for January. Administration: For December, the department’s net contribution totaled $662,765and was slightly below budget by $12,826. Revenues for December totaled $884,164 and were slightly below budget by $7,278. For the month, expenses totaled $181,399 and they were over budget by $5,548. Included in this month’s expenses are the Forensic Audit, recruiting expenses for the Executive Director and Bylaw Election expenses. Facilities Maintenance and Landscape: For December, the net contribution totaled negative $289,251 compared to budget of $27,768. Other Departments: Other departments comprise of information technology, security, the Link, community services and fitness, please refer to the detailed income statement report for review of month end and YTD financial performance.

Balance Sheet Current Assets: Overall, total assets of $4,147,614 have increased by $232,814 compared to the prior month. The main driver of the increase includes the following significant activity:

• Total cash of $984,581 increased from the prior month by $130,542 due to a large billing month and residents making payments before year end.

• Inventory stayed consistent with prior months.

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Sun City Summerlin Community Association, Inc. Operating Fund

Controller Summary December 31, 2017

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• Fuel in tanks decreased by $4,765 compared to the prior month due to no delivery needed in the month.

Investments: Represents investments in certificate of deposits held at local financial institutions. In accordance with the investment policy, these investments are laddered and held to maturity. As of December, 31th, investments totaled $2,240,000. These investments represent the par value of all certificates of deposit held in the operating fund. . Current Liabilities: In December, total liabilities closed the month with a balance of $3,292,649 with an increase of $117,764 compared to the prior month. This increase was driven mainly by an increase in Deferred Revenue.

• .

Reserves: As of December, 31th, the operating fund balance totaled $845,043 and has increased by $115,051 mainly due to recording the gain for December 2017.

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Operating Reserve Fixed Assets Consolidated

Fund Fund Fund Funds

Assets

Current Assets

Cash 989,931$ 289,110 - 1,279,041$

Other Current Assets 900,882 170,806 231,284 1,302,972

Total Current Assets 1,890,813 459,916 231,284 2,582,013

Investments - Certificates of Deposit 2,240,000 14,422,823 - 16,662,823

Land, Buildings & Equipment, net - - 46,843,214 46,843,214

Other Assets 16,801 - - 16,801

Total Assets 4,147,614$ 14,882,739 47,074,498 66,104,851$

Liabilities and Fund Balances

Current Liabilities

Accounts Payable 441,860$ 10,185 - 452,045$

Deferred Income 2,343,077 - - 2,343,077

Accrued Expenses 501,112 - 345 501,457

Total Current Liabilities 3,286,049 10,185 345 3,296,579

Other Liabilities 16,522 - 16,522

Total Liabilities 3,302,571 10,185 345 3,313,101

Fund Balances 845,043 14,872,554 47,074,153 62,791,750

Total Liabilities & Fund Balances 4,147,614$ 14,882,739 47,074,498 66,104,851$

Variance Variance

Actual Budget

Favorable/

(Unfavorable) Actual Budget

Favorable/

(Unfavorable)

REVENUES

Assessments 789,004$ 789,004 - 4,622,016$ 4,622,015 1

Golf Course Pro Shops 258,828 202,552 56,276 1,725,906 1,510,993 214,913

Restaurants 77,599 75,291 2,308 439,666 451,746 (12,080)

Newsletter/LINK 55,921 42,358 13,563 283,124 257,148 25,976

Interest Income 1,888 1,220 668 4,124 2,440 1,684

Other Income 93,181 92,301 880 592,700 535,186 57,514

1,276,421$ 1,202,726 73,695 7,667,536$ 7,379,528 288,008

EXPENSES

Golf Course Pro Shops 139,880$ 139,627 (253) 851,242$ 866,064 14,822

Golf Course Maintenance 262,759 262,453 (306) 2,408,501 2,448,476 39,975

Restaurants 109,528 96,617 (12,911) 652,851 593,731 (59,120)

Newsletter/LINK 51,303 34,843 (16,460) 229,222 206,758 (22,464)

Administration 181,399 175,851 (5,548) 978,661 961,774 (16,887)

Information Technology 17,863 17,503 (360) 110,189 105,018 (5,171)

Landscaping 125,926 117,610 (8,316) 1,022,192 941,039 (81,153)

Community Services 60,514 57,477 (3,037) 380,873 313,388 (67,485)

Facility Maintenance 163,324 180,158 16,834 1,014,869 1,074,901 60,032

Fitness 39,826 45,370 5,544 286,419 294,213 7,794

Security 8,851 6,543 (2,308) 45,915 46,058 143

1,161,173$ 1,134,052 (27,121) 7,980,934$ 7,851,420 (129,514)

115,248$ 68,674 46,574 (313,398)$ (471,892) 158,494

December 2017 Supplemental Information:

NORA Collected Current Year to Date: 411,948$ Prior Year to Date: 374,490$

Home Sales Current Year to Date: 311 Prior Year to Date: 291

Rounds of Golf Played Current Year to Date: 44,200 Prior Year to Date: 38,151

Total

Subtotal

Subtotal

Sun City Summerlin Community Association, Inc.

Fiscal Year To Date (July 2017 - December 2017)

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For additional SCSCAI financial information, please log on to www.scscai.com


Consolidated Balance Sheet

As of December 31, 2017


Summary of Operations - Operating Fund

For the Period from July 1, 2017 to December 31, 2017

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Current Month - December 31 2017

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SUN CITY SUMMERLIN Pg 1 Balance Sheet for Operating Fund - December, 2017

This Last Last Month Month Year

ASSETS

CURRENT ASSETS

CASH PETTY CASH 2,500 2,500 2,150 CASH ON HAND 2,850 2,850 2,700 CASH AND CASH EQUIV 984,581 854,039 477,733 -------------- -------------- --------------TOTAL CASH 989,931 859,389 482,583 -------------- -------------- --------------

INVESTMENTS, NET 2,240,000 2,240,000 2,223,542

RECEIVABLES ACCOUNTS RECEIVABLE 556,992 468,000 464,757 ALLOW FOR DOUBTFUL ACCTS (155,451) (152,651) (212,507) A/R-INVESTMENT EARNINGS 6,183 5,990 5,056 -------------- -------------- --------------TOTAL RECEIVABLES 407,724 321,339 257,306 -------------- -------------- --------------

PREPAID EXPENSES PREPAID EXPENSES - OTHER 113,315 97,553 334,033 PREPAID WORKMANS COMP 13,846 12,464 11,265 PREPAID INSURANCE 126,305 133,252 116,351 PREPAID PERSONAL TAXES (16,398) (13,665) 16,398 PREPAID REAL ESTATE TAXES 40,748 47,539 39,710 PREPAID SERVICE AND LEASES 62,424 55,272 27,545 PREPAID LICENSES 32,464 20,236 6,133 -------------- -------------- --------------TOTAL PREPAID EXPENSES 372,705 352,651 551,434 -------------- -------------- --------------

INVENTORIES CLOTHING INVENTORY 22,531 22,703 19,064 MERCHANDISE INVENTORY 8,472 8,362 10,396 EQUIPMENT INVENTORY 10,276 11,065 12,142 GOLF BALL INVENTORY 13,533 12,713 8,799 ACCESSORIES INVENTORY 13,750 13,071 10,726 FOOTWEAR INVENTORY 10,711 10,397 8,161 HEADWEAR INVENTORY 9,346 9,313 10,075 FOOD INVENTORY 11,755 11,208 11,413 BEER INVENTORY 2,378 2,425 1,946

January 23,2018 12:59pm User: RAG Term: A2

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WINE INVENTORY 1,147 1,041 3,103 LIQUOR INVENTORY 7,988 8,791 12,731 DRAFT BEER INVENTORY 453 670 912 BEVERAGE INVENTORY 2,509 2,491 3,408 -------------- -------------- --------------TOTAL INVENTORIES 114,849 114,251 112,876 -------------- -------------- --------------

-------------- -------------- --------------TOTAL CURRENT ASSETS 4,125,209 3,887,630 3,627,742 -------------- -------------- --------------

FUEL IN TANKS 5,604 10,369 6,693 OTHER ASSETS REFUNDABLE DEPOSITS 16,801 16,801 23,614 -------------- -------------- --------------TOTAL OTHER ASSETS 16,801 16,801 23,614 -------------- -------------- --------------

-------------- -------------- --------------TOTAL ASSETS 4,147,614 3,914,800 3,658,049 ============== ============== ==============

LIABILITIES AND FUND BALANCE

CURRENT LIABILITIES

ACCOUNTS PAYABLE ACCOUNTS PAYABLE 292,406 308,603 231,079 CASH TIPS PAYABLE 93 (112) 334 LESSONS PAYABLE 180 50 (470) ACCOUNTS PAYABLE - OTHER 132,645 134,403 117,913 ACCRUED OMBUDSMAN FEE 16,536 13,780 16,536 -------------- -------------- --------------TOTAL ACCOUNTS PAYABLE 441,860 456,725 365,392 -------------- -------------- --------------

ACCRUED EXPENSES ACCRUED PAYROLL 238,573 250,933 219,916 ACCRUED VACATION EXPENSE 185,445 180,586 182,743 FICA/MEDICARE 19,758 19,570 18,191 SUTA/FUTA/EIC/WORKMANS PAYABL 6,338 3,846 7,479 MISC PAYROLL DEDUCTIONS 2,021 1,827 1,807 UNCLAIMED PROPERTY 5,874 15,735 6,827


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NEVADA STATE SALES TAX 17,543 9,177 5,333 LIVE ENTERTAINMENT TAX 0 0 3,756 ACCRUED BUSINESS TAXES 25,560 18,540 25,775 -------------- -------------- --------------TOTAL ACCRUED EXPENSES 501,112 500,214 471,827 -------------- -------------- --------------

DEFERRED REVENUES DEFERRED ASSESSMENTS 1,884,521 1,788,836 1,768,150 DEFERRED GOLF MEMBERSHIP 204,386 228,765 211,737 DEFERRED NEVADA GOLF MEMBERSH 51,090 45,157 40,204 UNEARNED PREPAID GOLF ROUNDS 1,449 1,449 1,449 DEFERRED REVENUE-TOURNAMENTS 4,818 5,318 3,411 DEFERRED REV-HALL RENTALS 450 825 9,365 DEFERRED REV-GIFT CERTIFICATE (17,152) 6,678 34,549 DEFERRED REVENUE-THEATER 18,877 19,207 22,518 DEFERRED REVENUE-SPECIAL EVEN 8,780 8,980 4,820 DEFERRED REVENUE-ADVERTISING 185,859 105,333 106,899 -------------- -------------- --------------TOTAL DEFERRED REVENUES 2,343,077 2,210,547 2,203,101 -------------- -------------- --------------

REFUNDABLE DEPOSIT-ROOM RENTA 6,600 7,400 0 -------------- -------------- --------------TOTAL CURRENT LIABILITIES 3,292,649 3,174,885 3,040,320 -------------- -------------- --------------

Refundable Deposits 10,040 10,040 10,000 Refundable Settlement (117) (117) (117)

FUND BALANCE FUND BALANCE - BEGINNING 1,156,620 1,156,620 1,116,492 Due from (Due to) Other Funds 1,821 2,021 (128,880) NET PROFIT/LOSS (313,398) (428,648) (379,766) -------------- -------------- --------------TOTAL FUND BALANCE 845,043 729,992 607,846 -------------- -------------- --------------

-------------- -------------- --------------TOTAL LIABILITIES & FUND BALAN 4,147,614 3,914,800 3,658,049 ============== ============== ==============

===== End of Report =====


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SUN CITY SUMMERLIN Pg 1 Balance Sheet for Fixed Assets - December, 2017

This Last Month Month

ASSETS

FIXED ASSETS LAND 32,150,577 32,150,577 LAND IMPROVEMENTS 18,194,929 18,194,929 BUILDINGS 23,501,786 23,501,786 FURNITURE, FIXTURES AND EQUIP 16,270,901 16,062,400 VEHICLES 758,693 758,693 -------------- --------------TOTAL FIXED ASSETS 90,876,886 90,668,385 -------------- --------------

ASSETS IN PROGRESS 66,284 66,284

ACCUMULATED DEPRECIATION ACCUM DEPR - LAND IMPROVEMENT (14,394,334) (14,350,913) ACCUM DEPR - BUILDINGS (17,771,939) (17,706,539) ACCUM DEPR - FF&E (11,428,447) (11,324,641) ACCUM DEPR - VEHICLES (438,952) (432,598) -------------- --------------TOTAL ACCUMULATED DEPRECIATION (44,033,672) (43,814,691) -------------- --------------

-------------- --------------NET FIXED ASSETS 46,909,499 46,919,979 -------------- --------------

OTHER ASSETS LIQUOR LICENSES 165,000 165,000 -------------- --------------TOTAL OTHER ASSETS 165,000 165,000 -------------- --------------

-------------- --------------TOTAL ASSETS 47,074,499 47,084,979 -------------- --------------

LIABILITIES AND FUND BALANCE

CURRENT LIABILITIES

ACCRUED EXPENSES NEVADA STATE SALES TAX 345 345 -------------- --------------TOTAL ACCRUED EXPENSES 345 345 -------------- --------------


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SUN CITY SUMMERLIN Pg 2 Balance Sheet for Fixed Assets - December, 2017


-------------- --------------TOTAL CURRENT LIABILITIES 345 345 -------------- --------------

FUND BALANCE TRANS FROM RECON TO ASSETS 3,908,992 3,724,466 FUND BALANCE - BEGINNING 44,379,820 44,379,820 NET PROFIT/LOSS (1,214,659) (1,019,653) -------------- --------------TOTAL FUND BALANCE 47,074,153 47,084,633 -------------- --------------

-------------- --------------TOTAL LIABILITIES & FUND BALAN 47,074,499 47,084,979 -------------- --------------



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SUN CITY SUMMERLIN Pg 1 Balance Sheet for Golf Course Reserve - December, 2017


ASSETS

CURRENT ASSETS CASH AND CASH EQUIV 14,711,933 14,660,373 A/R - INVESTMENT EARNINGS 38,184 39,476 OTHER ASSETS 132,622 199,886 -------------- --------------TOTAL CURRENT ASSETS 14,882,739 14,899,735 -------------- --------------

-------------- --------------TOTAL ASSETS 14,882,739 14,899,735 -------------- --------------

LIABILITIES & FUND BALANCE

CURRENT LIABILITIES OTHER LIABILITIES 10,185 10,053 -------------- --------------TOTAL CURRENT LIABILITIES 10,185 10,053 -------------- --------------

FUND BALANCE FUND BALANCE - BEGINNING 17,959,600 17,959,600 CURRENT YR FUND TRANSFERS (3,935,156) (3,750,830) FUND BALANCE YEAR TO DATE 848,109 680,912 -------------- --------------TOTAL FUND BALANCE 14,872,554 14,889,682 -------------- --------------

-------------- --------------TOTAL LIABILITIES & FUND BALAN 14,882,739 14,899,735 -------------- --------------



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Current Last Yr Current Mo vs YTD YTD YTD Actual

Mo Mo Mo Actual Current Prior Yr Current vs

Actual Actual Budget Budget Actual Actual Budget Budget

Revenues:

Annual Assessments 789,004 748,273 789,004 0 4,622,016 4,489,637 4,622,015 1

Other Revenues 150,990 176,326 135,879 15,111 879,948 796,365 794,774 85,174

Golf Revenues 258,828 247,737 202,552 56,276 1,725,906 1,500,567 1,510,993 214,913

Food & Beverage 77,599 48,340 75,291 2,308 439,666 321,169 451,746 (12,080)

Total Revenue 1,276,421 1,220,676 1,202,726 73,695 7,667,536 7,107,738 7,379,528 288,008

Operating Expenses:

Cost of Goods Sold 120,490 69,715 71,694 (48,796) 526,443 379,213 428,632 (97,811)

Payroll & Related 661,610 667,154 704,554 42,944 4,204,661 3,988,362 4,233,890 29,229

Utilities 118,299 99,322 105,812 (12,487) 1,482,253 1,465,975 1,402,983 (79,270)

Repair & Maintenance 29,745 37,834 24,851 (4,894) 224,123 250,612 249,626 25,503

Operating Expenses 231,023 180,086 227,141 (3,882) 1,543,453 1,403,338 1,536,289 (7,163)

Total Expenses 1,161,167 1,054,111 1,134,052 (27,115) 7,980,933 7,487,500 7,851,420 (129,512)

Net Income (Loss) 115,254 166,565 68,674 46,580 (313,397) (379,762) (471,892) 158,496

Golf Course Operations (124,792) (161,061) (178,147) 53,355 (1,344,622) (1,800,224) (1,615,799) 271,177

Food & Beverage (31,930) (34,869) (21,326) (10,604) (213,185) (171,689) (141,985) (71,200)

Administration 662,765 705,907 675,591 (12,826) 3,992,436 3,954,502 4,034,869 (42,433)

Information Technology (17,862) (10,895) (17,503) (359) (110,190) (79,734) (105,018) (5,172)

Programs 0 0 0 0 0 0 0 0

LINK 4,618 (585) 7,515 (2,897) 53,902 43,470 50,390 3,512

Community Services (21,922) (25,234) (27,574) 5,652 (146,265) (141,826) (162,370) 16,105

Fitness (38,510) (40,051) (44,190) 5,680 (273,284) (255,610) (282,233) 8,949

Facility Maintenance (163,325) (154,021) (180,158) 16,833 (1,014,869) (999,393) (1,074,901) 60,032

Landscape (125,926) (107,318) (117,610) (8,316) (1,022,192) (892,027) (941,039) (81,153)

Security (8,852) (5,307) (6,543) (2,309) (45,914) (37,236) (46,058) 144

Surplus / (deficit) 134,264 166,566 90,055 44,209 (124,184) (379,767) (284,144) 159,961

SUN CITY SUMMERLIN COMMUNITY ASSOCIATION, INC.

SUMMARY OF OPERATIONS

December, 2017

STATEMENT OF EARNINGS (LOSSES)

NET CONTRIBUTION MARGIN - BY BUSINESS UNIT

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PALM VALLEY PRO SHOP

Rev 98,383 98,841 83,395 14,988 692,298 633,156 639,381 52,917

COS 2,844 2,491 2,264 (580) 22,991 18,027 18,478 (4,513)

GP 95,539 96,350 81,131 14,408 669,307 615,129 620,903 48,404

Payroll 28,715 31,070 31,178 2,463 187,194 170,348 187,502 308

Utilities 1,844 2,342 2,765 921 12,528 14,969 16,440 3,912

R&M 438 2,316 670 232 2,707 7,087 4,020 1,313

Op Exp 17,564 16,173 16,805 (759) 94,250 79,727 104,074 9,824

Net 46,978 44,449 29,713 17,265 372,628 342,998 308,867 63,761

HIGHLAND FALLS PRO SHOP

Rev 103,716 90,916 76,047 27,669 646,692 547,501 551,398 95,294

COS 7,533 6,408 3,858 (3,675) 36,030 25,890 21,762 (14,268)

GP 96,183 84,508 72,189 23,994 610,662 521,611 529,636 81,026

Payroll 28,643 25,612 29,016 373 175,401 159,267 177,951 2,550

Utilities 2,166 1,792 2,565 399 13,545 13,617 15,390 1,845

R&M 1,109 688 670 (439) 3,175 3,928 4,020 845

Op Exp 16,753 14,784 16,568 (185) 92,081 72,811 103,777 11,696

Net 47,512 41,633 23,370 24,142 326,460 271,987 228,498 97,962

EAGLE CREST PRO SHOP

Rev 56,729 57,980 43,110 13,619 386,916 319,910 320,214 66,702

COS 1,042 1,082 1,107 65 8,988 7,500 8,200 (788)

GP 55,687 56,898 42,003 13,684 377,928 312,410 312,014 65,914

Payroll 17,805 16,823 20,082 2,277 119,175 103,375 125,096 5,921

Utilities 946 965 1,110 164 6,912 5,935 6,660 (252)

R&M 271 1,666 395 124 2,729 2,555 2,370 (359)

Op Exp 12,202 11,453 10,574 (1,628) 73,534 59,723 70,324 (3,210)

Net 24,463 25,991 9,842 14,621 175,577 140,823 107,564 68,014

TOTAL PRO SHOPS

Rev 258,828 247,737 202,552 56,276 1,725,906 1,500,567 1,510,993 214,913

COS 11,419 9,982 7,229 (4,190) 68,009 51,417 48,440 (19,569)

GP 247,409 237,755 195,323 52,086 1,657,897 1,449,150 1,462,553 195,344

Payroll 75,163 73,504 80,276 5,113 481,770 432,990 490,549 8,779

Util 4,955 5,098 6,440 1,485 32,985 34,522 38,490 5,505

R&M 1,818 4,669 1,735 (83) 8,610 13,570 10,410 1,800

Op Exp 46,520 42,411 43,947 (2,573) 259,866 212,261 278,175 18,309

Net 118,952 112,074 62,925 56,028 874,665 755,808 644,929 229,737



GOLF PRO SHOPS

December, 2017

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16




PALM VALLEY GCM

Rev 0 0 0 0 0 0 0 0

COS 0 0 0 0 0 0 0 0

Payroll 58,489 74,687 59,407 918 380,256 427,826 381,424 1,168

Util 18,565 19,405 15,444 (3,121) 325,344 388,437 330,668 5,324

R&M 2,682 9,254 3,821 1,139 34,598 75,049 52,611 18,013

Op Exp 7,118 1,861 12,098 4,980 83,126 105,311 96,166 13,040

Net (86,854) (105,208) (90,770) 3,916 (823,324) (996,623) (860,869) 37,545

HIGHLAND FALLS GCM

Rev 0 0 0 0 0 0 0 0

COS 0 0 0 0 0 0 0 0

Payroll 59,019 61,491 61,399 2,380 394,702 408,944 394,928 226

Util 18,830 21,207 17,756 (1,074) 353,840 416,999 356,474 2,634

R&M 5,408 6,326 2,600 (2,808) 65,844 46,582 48,600 (17,244)

Op Exp 11,180 8,140 10,625 (555) 122,950 114,919 138,497 15,547

Net (94,437) (97,164) (92,380) (2,057) (937,336) (987,445) (938,499) 1,163

EAGLE CREST GCM

Rev 0 0 0 0 0 0 0 0

COS 0 0 0 0 0 0 0 0

Payroll 37,080 45,982 39,581 2,501 162,020 247,209 144,413 (17,607)

Util 14,953 9,693 8,282 (6,671) 185,848 209,276 178,412 (7,436)

R&M 1,854 4,345 2,540 686 29,624 30,876 36,440 6,816

Op Exp 8,566 10,743 7,519 (1,047) 81,135 84,604 102,095 20,960

Net (62,453) (70,763) (57,922) (4,531) (458,627) (571,964) (461,360) 2,733

TOTAL GOLF COURSE MAINTENANCE

Rev 0 0 0 0 0 0 0 0

COS 0 0 0 0 0 0 0 0

Payroll 164,818 182,161 173,759 8,941 1,015,695 1,083,978 1,006,549 (9,146)

Util 60,833 50,304 47,215 (13,618) 972,736 1,014,712 952,162 (20,574)

R&M 9,944 19,926 9,111 (833) 130,066 152,508 139,451 9,385

Op Exp 27,164 20,744 32,368 5,204 290,005 304,834 350,314 60,309

Net (262,760) (273,134) (262,453) (306) (2,408,502) (2,556,032) (2,448,476) 39,974



December, 2017

GOLF MAINTENANCE

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VISTA GRILLE

Rev 3,606 4,793 4,000 (394) 27,953 30,702 24,000 3,953

G Rev 0 0 0 0 0 0 0 0

COS 0 0 0 0 0 0 0 0

GP 3,606 4,793 4,000 (394) 27,953 30,702 24,000 3,953

Payroll 0 0 0 0 0 0 0 0

Util 2,049 1,293 1,295 (754) 13,720 9,702 8,400 (5,320)

R&M 0 0 0 0 0 0 0 0

Op Exp 1,313 1,130 1,535 222 7,803 6,778 9,210 1,407

Net 245 2,370 1,170 (926) 6,430 14,222 6,390 40

TAVERN AT THE FALLS

Rev 43,106 29,240 53,592 (10,486) 252,041 190,857 321,552 (69,511)

COS 17,930 11,823 23,047 5,117 103,105 76,745 142,255 39,150

GP 25,176 17,417 30,545 (5,369) 148,936 114,112 179,297 (30,361)

Payroll 39,149 36,777 39,586 437 264,563 201,408 237,516 (27,047)

Util 2,415 2,482 2,535 120 14,478 14,540 15,210 732

R&M 0 2,863 675 675 1,833 5,806 4,050 2,217

Op Exp 8,920 8,277 8,339 (581) 55,313 46,702 49,928 (5,385)

Net (25,308) (32,982) (20,590) (4,718) (187,251) (154,344) (127,407) (59,844)

SUMMIT RESTAURANT

Rev 30,887 14,307 17,699 13,188 159,672 99,611 106,194 53,478

COS 10,754 1,897 2,468 (8,286) 57,540 24,512 23,137 (34,403)

GP 20,133 12,410 15,231 4,902 102,132 75,099 83,057 19,075

Payroll 15,603 11,431 12,287 (3,316) 81,035 75,803 73,722 (7,313)

Util 1,083 1,109 1,084 1 7,960 6,472 6,504 (1,456)

R&M 1,510 0 150 (1,360) 2,586 763 900 (1,686)

Op Exp 8,804 4,127 3,616 (5,188) 42,914 23,627 22,899 (20,015)

Net (6,867) (4,258) (1,906) (4,961) (32,364) (31,567) (20,968) (11,395)

FOOD & BEVERAGE

Rev 77,599 48,340 75,291 2,308 439,666 321,169 451,746 (12,080)

COS 28,684 13,720 25,515 (3,169) 160,646 101,257 165,392 4,746

GP 48,915 34,620 49,776 (861) 279,020 219,912 286,354 (7,334)

Payroll 54,751 48,208 51,873 (2,878) 345,598 277,210 311,238 (34,360)

Util 5,547 4,884 4,914 (633) 36,158 30,714 30,114 (6,044)

R&M 1,510 2,863 825 (685) 4,419 6,569 4,950 531

Op Exp 19,036 13,534 13,490 (5,546) 106,030 77,108 82,037 (23,993)

Net (31,930) (34,869) (21,326) (10,603) (213,185) (171,689) (141,985) (71,200)



December, 2017

FOOD & BEVERAGE

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ADMINISTRATION

M Inc 789,004 748,273 789,004 0 4,622,016 4,489,637 4,622,015 1

Oth Inc 55,160 108,286 62,438 (7,278) 349,081 377,657 374,628 (25,547)

G Inc 0 0 0 0 0 0 0 0

Payroll 79,894 90,547 88,678 8,784 503,925 515,536 532,046 28,121

Op Exp 101,505 60,104 87,173 (14,332) 474,736 397,255 429,728 (45,008)

Net 662,765 705,907 675,591 (12,826) 3,992,436 3,954,502 4,034,869 (42,433)

INFORMATION TECHNOLOGY

Payroll 14,881 8,485 13,317 (1,564) 88,941 48,599 79,902 (9,039)

Op Exp 2,982 2,410 4,186 1,204 21,248 31,135 25,116 3,868

Net (17,862) (10,895) (17,503) (360) (110,190) (79,734) (105,018) (5,171)

SECURITY

R&M 1,948 1,027 900 (1,048) 6,161 3,556 5,500 (661)

Op Exp 6,903 4,281 5,643 (1,260) 39,754 33,680 40,558 804

Net (8,852) (5,308) (6,543) (2,308) (45,914) (37,235) (46,058) 143



ADMINISTRATION - IT - SECURITY

December, 2017

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PROGRAMS

Rev 0 0 0 0 0 0 0 0

COS 0 0 0 0 0 0 0 0

GP 0 0 0 0 0 0 0 0

Payroll 0 0 0 0 0 0 0 0

Op Exp 0 0 0 0 0 0 0 0

Net 0 0 0 0 0 0 0 0

LINK

Rev 55,921 35,335 42,358 13,563 283,124 245,168 257,148 25,976

COS 36,235 22,993 19,000 (17,235) 137,956 124,085 119,000 (18,956)

GP 19,686 12,342 23,358 (3,672) 145,168 121,083 138,148 7,020

Payroll 12,417 10,419 12,220 (197) 74,181 64,175 73,320 (861)

Op Exp 2,651 2,509 3,623 972 17,085 13,438 14,438 (2,647)

Net 4,618 (585) 7,515 (2,897) 53,902 43,470 50,390 3,512

COMMUNITY SERVICES

Rev 38,593 31,627 29,903 8,690 234,609 162,441 151,018 83,591

COS 44,152 23,020 19,950 (24,202) 158,479 101,253 94,700 (63,779)

GP (5,559) 8,607 9,953 (15,512) 76,130 61,188 56,318 19,812

Payroll 27,080 28,087 30,967 3,887 202,213 181,960 191,218 (10,995)

Util 0 0 0 0 0 0 0 0

Op Exp (10,718) 5,754 6,560 17,278 20,181 21,054 27,470 7,289

Net (21,922) (25,234) (27,574) 5,653 (146,265) (141,826) (162,370) 16,106



December, 2017

PROGRAMS - LINK - COMMUNITY SERVICES

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Mo Mo Mo Actual Current Prior Yr Current vsActual Actual Budget Budget Actual Actual Budget Budget

FITNESS

Rev 1,316 1,078 1,180 136 13,134 11,099 11,980 1,154

COS 0 0 0 0 1,353 1,201 1,100 (253)

GP 1,316 1,078 1,180 136 11,781 9,898 10,880 901

Payroll 33,973 35,370 39,032 5,059 247,935 233,963 254,124 6,189

R&M 0 772 800 800 4,161 3,260 4,800 639

Op Exp 5,853 4,987 5,538 (315) 32,970 28,284 34,189 1,219

Net (38,510) (40,051) (44,190) 5,680 (273,284) (255,610) (282,233) 8,948

FACILITIES MAINTENANCE

Rev 0 0 0 0 0 0 0 0

Payroll 111,210 112,645 121,666 10,456 685,404 686,350 729,996 44,592

Util 26,688 23,174 34,671 7,983 184,764 176,212 182,785 (1,979)

R&M 11,831 6,834 10,187 (1,644) 56,887 56,173 72,757 15,870

Op Exp 13,595 11,367 13,634 39 87,814 80,657 89,363 1,549

Net (163,325) (154,021) (180,158) 16,834 (1,014,869) (999,393) (1,074,901) 60,032

LANDSCAPE

Rev 0 0 0 0 0 0 0 0

Payroll 87,423 77,728 92,766 5,343 558,999 463,601 564,948 5,949

Util 20,276 15,862 12,572 (7,704) 255,610 209,815 199,432 (56,178)

R&M 2,694 1,743 1,293 (1,401) 13,819 14,976 11,758 (2,061)

Op Exp 15,533 11,985 10,979 (4,554) 193,764 203,634 164,901 (28,863)

Net (125,926) (107,318) (117,610) (8,316) (1,022,192) (892,027) (941,039) (81,153)



December, 2017

FITNESS - FACILITIES MAINTENANCE - LANDSCAPE

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DELINQUENCY REPORT

FY16 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16

Number Deliquent on Dues 105 94 90 69 74 76 84 82 74 83 77 80

Total Dollars Amount Involved 143,050.56 120,066.94 116,017.15 98,163.75 115,864.31 116,694.84 133,486.19 129,742.33 123,405.45 137,051.96 129,320.36 123,385.09

Amount of Largest Deliquent Account 8,312.01 8,347.64 8,383.42 8,419.35 8,455.43 7,331.87 7,363.25 7,312.45 7,311.02 7,344.58 8,662.29 8,696.15

Rate of Interest Charged 5.25% 5.25% 5.25% 5.25% 5.25% 5.25% 5.50% 5.50% 5.50% 5.50% 5.50% 5.50%

Write Offs 1,792.53 2,899.00 5,620.36

FINES

Number Deliquent of Fines 16 14 15 16 16 14 15 17 19 18 19 19




Accounts Not In Compliance 6 6 6 8 8 6 8 6 8 5 8 8

Write Offs 4,045.00 5,087.48


Number Deliquent on Dues 68 71 65 57 62 62 59 48 63 50 48 40




Write Offs 9.76 120.29 182.32 3,447.00 2,826.91

FINES

Number Deliquent of Fines 21 20 21 19 16 18 14 12 12 11 10 9




Accounts Not In Compliance 10 9 8 9 6 6 5 4 5 4 4 4

Write Offs 400.00 1,300.00 400.00 200.00


Number Deliquent on Dues 63 45 47 49 54 56

Total Dollars Amount Involved 61,704.16 50,559.44 53,129.86 54,432.70 58,052.22 67,840.55

Amount of Largest Deliquent Account 7,845.19 7,885.78 7,926.56 6,205.02 6,205.02 6,205.02


Write Offs

FINES

Number Deliquent of Fines 9 11 8 8 8 9

Total Dollars Amount Involved 138,261.46 141,561.46 142,505.40 145,755.40 148,355.40 151,155.40

Amount of Largest Deliquent Account 105,887.48 108,387.48 110,387.48 112,887.48 114,887.48 116,887.48


Accounts Not In Compliance 4 6 6 5 5 5

Write Offs

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FY 2015 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Total YTD

# NORA Collected 39 45 62 60 37 36 58 17 79 64 62 73 632

# NORA Refunded 3 3 8 2 2 0 7 2 2 0 4 2 35

# Net NORA Collected 36 42 54 58 35 36 51 15 77 64 58 71 597

* # Total Sales 30 42 52 48 29 30 55 16 71 61 61 75 570

Amount collected $48,842 $56,591 $77,672 $74,760 $45,771 $44,384 $72,124 $20,805 $98,477 $88,768 $85,994 $101,251 $815,439

**Amount refunded $3,747 $3,123 $10,441 $2,774 $2,636 $0 $8,322 $2,774 $2,774 $0 $5,548 $2,774 $44,913

Net Amount of NORA $45,095 $53,469 $67,231 $71,986 $43,135 $44,384 $63,802 $18,031 $95,703 $88,768 $80,446 $98,477 $770,527

Amount budgeted $29,166 $29,166 $29,166 $29,166 $29,166 $29,166 $29,166 $29,166 $29,166 $29,166 $29,166 $29,174 $350,000

Variance (negative) $15,929 $24,303 $38,065 $42,820 $13,969 $15,218 $34,636 ($11,135) $66,537 $59,602 $51,280 $69,303 $420,527

Total since inception $4,330,275 $4,383,743 $4,450,974 $4,522,960 $4,566,095 $4,610,479 $4,674,281 $4,692,312 $4,788,015 $4,876,783 $4,957,229 $5,055,706


# NORA Collected 33 77 49 41 13 64 53 43 47 40 48 72 580

# NORA Refunded 4 5 8 1 2 2 9 6 4 2 7 8 58


* # Total Sales 32 78 48 40 17 57 51 38 46 39 51 72 569


**Amount refunded $5,548 $6,935 $11,096 $1,387 $2,774 $2,774 $12,483 $8,322 $5,548 $2,774 $9,709 $11,096 $80,446


Amount budgeted $37,500 $37,500 $37,500 $37,500 $37,500 $37,500 $37,500 $37,500 $37,500 $37,500 $37,500 $37,500 $450,000

Variance (negative) $2,723 $62,364 $19,367 $17,980 ($22,243) $48,494 $23,528 $13,819 $22,141 $15,206 $19,367 $51,268 $274,014



# NORA Collected 45 64 46 51 47 51 39 43 65 53 60 62 626

# NORA Refunded 6 9 4 4 5 6 4 7 5 9 3 2 64


* # Total Sales 39 67 45 50 42 48 35 40 66 55 61 65 613


**Amount refunded $8,322 $12,483 $5,548 $5,548 $6,935 $8,322 $5,548 $9,709 $6,935 $12,483 $4,161 $2,774 $88,768


Amount budgeted $63,334 $63,334 $63,334 $63,334 $63,334 $63,334 $63,334 $63,334 $63,334 $63,334 $63,334 $63,334 $760,008

Variance (negative) ($9,241) $12,951 ($5,080) $1,855 ($5,080) ($919) ($14,789) ($13,402) $19,886 ($2,306) $11,564 $19,886 $15,325



# NORA Collected 40 46 59 53 56 61 315

# NORA Refunded 1 2 5 4 2 4 18

# Net NORA Collected 39 44 54 49 54 57 - - - - - - 297

* # Total Sales 38 46 59 53 56 59 311

Amount collected $55,489 $63,802 $81,833 $73,511 $77,672 $84,607 $0 $0 $0 $0 $0 $0 $436,914

**Amount refunded $1,387 $2,774 $6,935 $5,548 $2,774 $5,548 $0 $0 $0 $0 $0 $0 $24,966

Net Amount of NORA $54,102 $61,028 $74,898 $67,963 $74,898 $79,059 $0 $0 $0 $0 $0 $0 $411,948

Amount budgeted $60,417 $60,417 $60,417 $60,417 $60,417 $60,417 $362,502

Variance (negative) ($6,315) $611 $14,481 $7,546 $14,481 $18,642 $0 $0 $0 $0 $0 $0 $49,446


* # Total Sales may differ due to timing and certain NORA exempt sales

** Refunds were for home sold and bought in Sun City within 180 days


Analysis of Total Homes Sold in Relation to NORA's Collected

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SUN CITY SUMMERLIN COMMUNITY … Sky Meadow Ave SCSCAI Representatives Mountain Shadows...

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Transcript of SUN CITY SUMMERLIN COMMUNITY … Sky Meadow Ave SCSCAI Representatives Mountain Shadows...