By Kimberly Williams Kim@SandyPines.com

As we enter the new season of 2021, we thank you for your commitment to Sandy Pines and being timely with payments on your membership accounts. Sandy Pines sends billing statements either in the mail by paper or through email. Statements are sent on the first business day of every month to all membership accounts through email and/or mail. If you do not receive you statement by the second or third business day, please contact administration for follow-up.

Sandy Pines Board of Directors and Finance Committee members met Friday afternoon, March 19, 2021 to review and approve the November, December 2020, and January and February 2021 Financial Statements. You may find the approved financial statements on the webpage at www.sandypines.com/members/finance. The Board of Directors and Finance Committee members also listened to a presentation from the independent advisor from Charles Schwab.

Overall, the financials of Sandy Pines through February 2021 show a solid financial position leading into the 2021 season. A few highlights: February 2021 cash shows a $1.9M lower balance than prior year, however with the $992k FEMA reimbursement received the middle of March and the $700k second FEMA reimbursement to come within the next month, cash to date is $500k higher than prior year. Total Net Income as of February 2021 is approximately $132k lower than prior year, with $151k sales deposit in transit, bringing Net Income to $19k higher than prior year.

The financials for Lake Monterey Golf Course as of February 2021 has a steady cash flow up $100k from prior year and Net Income is a on target being slightly higher than prior year as a result of higher green fees and reduced expenses.

Please also see the included financial graph table for a pictorial showing the financial utilization of income from Dues/Assessments and Operations as of FYE 2020 compared to FYE 2019. Due to limitations of activities and a slower start to the FY2020 season, operational expenses were less in FY2020 than FY2019, resulting in the percentage of Annual Dues supporting operations to increase in FY2020 to 43% from 40%. This perspective shows the intent of Administration to utilize operational expenses.

If you have any questions or concerns at any time regarding your member statement or account, we are happy to assist and may be reached at 616-896-8315. We are looking forward to welcoming the Sandy Pines Community and family back for a great 2021 season.

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