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Sun City West posts favorable year-to-date operating and reserve returns through February
Summary
Committee heard that operating results were roughly even with budget and reserves produced investment gains, improving the fully funded balance; golf and events lagged due to weather and participation.
Director Christine Novello, chairperson of the Budget and Finance Committee and association treasurer, opened the committee’s review of the association’s February year-to-date financials on March 18.
Cliff, a staff member presenting the report, said the month’s operating revenue was slightly ahead of budget and that the association showed overall year-to-date operating favorability. "We finished out about 6,000, favorable compared to budget on the revenue side," Cliff said, and later reported that operating results were "83,000 favorable with the operating and revenue and expense favorability." He also noted an operating cash outflow of about $128,000…
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