PebbleCreek HOA budget summary – November 2015 YTD

The November 2015 financials continued to reflect the strong performance through the 11 months of the year. The November year-to-date revenue is 6.0% favorable to budget with all departments continuing to exceed their planned revenue targets. Strong resident support of the dining and golf facilities have contributed to these positive results.

November had 17 new home closings including six Villas for a year-to-date total of 148. Resale home closings finished at 11 for the month for a total of 231 YTD. This brings the total number of closed homes/villas to 4,461 at the end of November. Both new and resale home closings continue to exceed budget and have contributed positively to the revenue results for November.

The November YTD expenses were unfavorable to budget at 2.4% over budget. Capital expenditures were also over the original planned budget driven by the completion of the approved community renovation projects. This month an additional withdrawal of $291,443 from the Reserve was transferred to the operating account to fund these expenditures. There are several community renovation projects that have not yet been completed. Additional Reserve withdrawals may be made to fund these community renovation projects before the end of the year.

The year-to-date contribution to the Golf Infrastructure Fund (GIF) from golf fees was $103,950 and the contribution to the Reserve from HOA dues was $1,005,747. The net results show a budget surplus of $393,539 at the end of November after transfer from the Reserve funds and use of Previous Years’ Surplus.

These monthly financial budget summary reports will be provided on the PebbleCreek HOA website at www.pebblecreekhoa.org. The 2015 financial binder with a more detailed standard set of accounting financials are available to view at the Resident and Guest Services at the Eagle’s Nest Clubhouse desk.