Re: SCSCAI JANUARY 2015 SUMMARY OF OPERATIONS

Bernie, I have come to the conclusion that this is the True Cost of Volunteer Management (free Management).  Sun City Summerlin is a self managed community by nine volunteer Board of Directors. (only Management qualifications needed is membership in a small political group)

What can be expected from an (unaudited)  Balance Sheet? Moreover SCSCAI has a very complicated financial structure because it consolidates the balance sheets of the membership funds (Dues) with for profit cash business (golf/restaurants) therefore, co-mingling assets, liabilities and ownership and not providing the accountability of Generally Accepted Auditing Standards, or GAAS to the SCSCAI membership. The Board and Management are well aware of this and refuse to address this problem, Why?

It is logical to think that this situation will continue until this mismanagement has been stopped. Accountability and the end of controlled  Communications is needed.

DAK

(702) 582-8064

On Fri, Mar 6, 2015 at 9:33 AM, Bernard Silver <silverinvegas@yahoo.com> wrote:

SCSCAI  JANUARY 2015 SUMMARY OF OPERATIONS 

The following summary relating to the operation of 2 businesses, open to the public, are

from data published by our Administration and available on www.scscai.com.

SCSCAI JANUARY 2015 SUMMARY OF OPERATIONS - JUNE 30 2014 THRU JANUARY 2015 (unaudited)

                                                            EXPENSES($)          REVENUE ($)

Golf Course & Restaurants                 3,693,373                  2,079,328

Golf Course & Restaurants         LOSS  (7 MONTHS)          1,614,045

    Prorated Loss for 12 months     2,766,934

    Prorated Loss per unit owner  =   $356   =  27.8% of $1,284  annual membership dues

                  

Number of Rounds of Golf Played  Prior Year to date............  45,869

Number of Rounds of Golf Played  Current Year to date.......   45,723

                          666666666666666666666666666666666666666666666666666666666