Marion Moskal
The October 2014 financials continue to show the strong financial revenue performance in all departments. Year to date revenues are 4.6% favorable to budget. The strong Food & Beverage and Golf revenue, along with a significant number of home closings, lead the way to the positive financial results.
October had 16 new home closings, including 12 new villas, bringing the year to date total to 110. Resale home closings finished strong at 16 for the month for a total of 186 YTD. Both new and resale home closings are exceeding the planned budget and have contributed to the positive revenue results for year.
The October YTD expenses were unfavorable to budget at 2.2% over budget. The delayed projects from earlier in the year are now being completed and have contributed to the expense budget overrun. With the completion of these planned projects, the funds from the Previous Year’s Surplus, although planned, were not required this month. However, as additional projects get completed these funds may be applied as needed. With the Eagle’s Nest Kitchen and Bar remodel project having been completed, the costs will be recognized in the capital expenditure summary next month. Reserve funds will be transferred next month to the operating budget and utilized to cover these expenditures as originally planned. Overall there is a net budget surplus of $205,862 year to date.
These monthly financial budget summary reports will be provided on the PebbleCreek HOA website at www.pebblecreekhoa.org and are also available by tuning in to Channel 22. The 2014 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.