Marion Moskal
The April 2015 financials continued the positive results from the first quarter of this year. The April year-to-date revenue is 7.7% favorable to budget with all departments exceeding their planned revenue targets. Continued strong support of the Food & Beverage, Golf and Activities amenities by the PebbleCreek homeowners has been a significant factor to the positive results.
April had 19 new home closings including four Villas for a year-to-date total of 61 which exceeds the budget of 28. Resale home closings finished at 25 for the month for a total of 89 YTD. Both new and resale home closings continue to exceed budget and have contributed positively to the revenue results for April.
The April YTD expenses were favorable to budget at 2.1% under budget. Delay of projects planned for earlier in the year along with invoice timing and 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 on 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.
With the favorable revenue and project delays, the April financials show a total HOA budget surplus of $818,321 net of the $40,732 set aside in the Golf Infrastructure Fund (GIF) and $362,009 contribution to the Reserve. Golf Operations contributed $386,951 to the total budget surplus.
These monthly financial budget summary reports will be provided on the PebbleCreek HOA Website @ www.pebblecreekhoa.org. The 2014 financial binder with a more detailed standard set of accounting financials are available to view at the Resident & Guest Services at the Eagle’s Nest Clubhouse desk.