Marion Moskal
The June 2015 financials continued the positive performance from the start of this year. The June year-to-date revenue is 5.7% favorable to budget with all departments exceeding their planned revenue targets. Strong resident support and dedicated efforts of all departments have been a significant factor to these positive results.
June had 17 new home closings including 7 Villas for a year-to-date total of 84 which exceeds the year to date budget of 42. Resale home closings finished at 31 for the month for a total of 154 YTD. Both new and resale home closings continue to exceed budget and have contributed positively to the revenue results for June.
The June YTD expenses were favorable to budget at 1.6% under budget. Delay of projects planned for earlier in the year along with invoice timing along with booking of planned expenditures contributed to this budget under run. Capital expenditures were also under budget due to project delays. Many of these capital projects were planned to be funded from the Reserve Fund. With the favorable budget revenue and delayed timing of project expenditures, the forecasted draw from the Reserve Fund was not required and is now planned for the second half of the year. As the year progresses the actual expenditures will catch up with the budgeted dollars and the year-to-date results will finish more aligned with the original budget.
Favorable revenue and project delays resulted in a total HOA budget surplus of $762,586 through June. This surplus was net of the $58,736 set aside in the Golf Infrastructure Fund (GIF) and $548,875 contribution to the Reserve for the first half of the year. Golf Operations contributed $398,338 to the total budget surplus.
These monthly financial budget summary reports will be provided on the PebbleCreek HOA Website @ www.pebblecreekhoa.org. The 2015 financial binder with more detailed standard set of accounting financials are available to view at the Resident and Guest Services at the Eagle’s Nest Clubhouse desk.