Balance Sheet Review:
In Sewer, we have $4,142,050 total cash compared to $4,429,607 In March 2023, which is a negative variance of ($287,557).
For the Property Owners Association & Amenities, we have $4,601,325 of capital cash plus $7,985,508 of operating cash for a total of $12,586,833 POA & Amenities cash compared to $10,109,9292 in March 2023, which is a positive variance of $2,277,541.
Statement of Activities Review:
Sewer ended the month of March with a net surplus of $164,547 with a variance to budget of $23,048. Revenue was unfavorable to budget by $33,627. The negative variance is due to tap fees that are still behind budget.
Property Owners Association net operations was a positive $288,826 to a budgeted surplus of $172,327 which results in a surplus to budget of $116,499. It is difficult to predict the timing and allocation of the receipt of grant money revenue budgeted in the Police Department.
Amenities had positive variance to budget of $122,823 with a net loss of $1,096,235 compared to a budgeted net loss of $1,219,058. The decrease in restaurant sales was the large reason for the decline, however there were positive variance to budget in all the other amenity areas.
Overall POA & Amenities has a positive variances to budget of $239,322 with a net loss of $807,409 compared to a budgeted loss of $1,046,731.